Title: Asset Seizure for Ukraine Reconstruction Act
Policy area: International Affairs

Summary:
Asset Seizure for Ukraine Reconstruction Act
This bill authorizes the President to, subject to certain conditions, seize assets belonging to a foreign person whose wealth is derived in part through political support for or corruption linked to Russian President Vladimir Putin.
Specifically, for two years starting from this bill's enactment, the President may seize such assets if (1) Russia remains engaged in a conflict of territorial conquest in Ukraine; (2) the President has imposed sanctions on the owner of the assets for reasons related to corruption, human rights violations, malign influence, or conflicts in Ukraine; and (3) the assets are valued at over $5 million.
Such seized assets may be liquidated, and the resulting funds may only be used for specified purposes, including (1) the post-conflict reconstruction of Ukraine, (2) humanitarian assistance and refugee support for the Ukrainian people, (3) weapons for Ukraine's uniformed military forces, and (4) humanitarian and development assistance for the Russian people.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6930 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 6930

   To authorize the confiscation of assets subject to United States 
    jurisdiction of certain foreign persons, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 3, 2022

    Mr. Malinowski (for himself, Mr. Wilson of South Carolina, Ms. 
  Spanberger, Mr. Meijer, Mr. Cohen, Mr. Banks, Ms. Wild, Mrs. Kim of 
California, Mr. Kildee, and Mr. Curtis) introduced the following bill; 
         which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

                                 A BILL


 
   To authorize the confiscation of assets subject to United States 
    jurisdiction of certain foreign persons, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Asset Seizure for Ukraine 
Reconstruction Act''.

SEC. 2. PRESIDENTIAL AUTHORITIES WITH RESPECT TO THE CONFLICT IN 
              UKRAINE.

    (a) In General.--The President upon determination that Russia 
remains engaged in a conflict of territorial conquest in Ukraine, may, 
by means of instructions, licenses, or other regulations as may be 
promulgated, confiscate any property or accounts subject to the 
jurisdiction of the United States and valued over $5,000,000 of any 
foreign person described in subsection (b). All rights, title, and 
interest in any property so confiscated shall vest, upon the terms 
directed by the President, in such agency or person as the President 
may designate from time to time, and upon such terms and conditions as 
the President may prescribe. Such interest or property may be held, 
used, administered, liquidated, or sold, by such agency or person and 
such designated agency or person may perform any and all acts incident 
to the accomplishment or furtherance of these purposes.
    (b) Foreign Person Described.--A foreign person described in this 
subsection is a foreign person--
            (1) whose wealth, according to credible information, is 
        derived in part through corruption linked to or political 
        support for the regime of Russian President Vladimir Putin; and
            (2) with respect to which the President has imposed 
        sanctions relating to corruption, human rights violations, 
        Russian malign influence, or conflicts in Ukraine.
    (c) Use of Liquidated Funds.--Any funds derived from liquidation or 
sales pursuant to subsection (a) shall be used solely for the benefit 
of the people of Ukraine, for the following purposes:
            (1) Post-conflict reconstruction in Ukraine.
            (2) Humanitarian assistance.
            (3) Weapons for the uniformed military forces of the 
        elected Government of Ukraine.
            (4) Provisions to support refugees and refugee resettlement 
        in neighboring countries and in the United States.
            (5) Technology items and services to ensure the free flow 
        of information to the Ukrainian people in Ukraine, including 
        items to counter internet censorship by Russian authorities, to 
        circumvent efforts to shut down internet or communication 
        services by Russian authorities, to bolster cybersecurity 
        capabilities of Ukrainian Government or non-governmental 
        organizations.
            (6) Humanitarian and development assistance for the Russian 
        people, including democracy and human rights programming and 
        monitoring.
    (d) Sunset.--The authority provided by subsection (a) shall 
terminate on the date that is 2 years after the date of the enactment 
of this Act.
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