Asset Seizure for Ukraine Reconstruction Act

Bill: 117-hr-6930
Sponsor: Rep. Malinowski, Tom [D-NJ-7]
Introduced: 2022-03-03 in the House
Policy area: International Affairs
Subjects: Computer security and identity theft
Conflicts and wars
Diplomacy, foreign officials, Americans abroad
Europe
Foreign aid and international relief
Foreign property
Government ethics and transparency, public corruption
Human rights
Internet, web applications, social media
Military assistance, sales, and agreements
Military operations and strategy
News media and reporting
Presidents and presidential powers, Vice Presidents
Reconstruction and stabilization
Refugees, asylum, displaced persons
Russia
Sanctions
Sovereignty, recognition, national governance and status
Subversive activities
Ukraine

Summary:
action_date: 2022-03-03
text: 

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.

action_date: 2022-04-27
text: 

Asset Seizure for Ukraine Reconstruction Act

 
This bill establishes a working group to determine the legal mechanisms that may be used to seize assets belonging to certain foreign persons (i.e., individuals and entities) affiliated with Russia's political leadership and addresses related issues.
 
The interagency working group must determine the constitutional mechanisms by which the President may take steps to seize and confiscate assets belonging to any sanctioned foreign person whose wealth is derived through support for or corruption related to the regime of Russian president Vladimir Putin. The working group must report to Congress on certain issues including (1) recommendations to impose additional energy-related sanctions on Russia's government, and (2) any additional authorities the President needs to take steps to seize and confiscate the assets. 
 
The President must report to Congress a determination as to whether to expand existing sanctions related to certain Russian government activities to cover additional persons. 
 


Legislative actions:
action_date: 2022-04-28
text: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
action_date: 2022-04-27
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2022-04-27
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 417 - 8 (Roll no. 130). (text: CR H4530-4531)
action_date: 2022-04-27
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 417 - 8 (Roll no. 130).
action_date: 2022-04-27
text: Considered as unfinished business. (consideration: CR H4554-4555)
action_date: 2022-04-27
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2022-04-27
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 6930.
action_date: 2022-04-27
text: Considered under suspension of the rules. (consideration: CR H4530-4532)
action_date: 2022-04-27
text: Mr. Phillips moved to suspend the rules and pass the bill, as amended.
action_date: 2022-04-05
text: Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
action_date: 2022-04-05
text: Committee Consideration and Mark-up Session Held.
action_date: 2022-03-03
text: Referred to the House Committee on Foreign Affairs.
action_date: 2022-03-03
text: Introduced in House
action_date: 2022-03-03
text: Introduced in House