Sanctions Recovery Act of 2024

Bill: 118-s-3913
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2024-03-12
Policy area: International Affairs
Latest action: action_date: 2024-03-12
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 3913 IN THE SENATE OF THE UNITED STATES March 12, 2024 Mr. Rubio introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To authorize the Director of the Office of Foreign Assets Control of the Department of the Treasury to use a portion of the amounts seized through the enforcement of sanctions to recover the costs of such enforcement.

1. Short title This Act may be cited as the Sanctions Recovery Act of 2024 . 2. Use of portion of foreign assets seized through sanctions enforcement to recover costs (a) In general The Director of the Office of Foreign Assets Control of the Department of the Treasury may deposit into the programs account of the Office of Foreign Assets Control an amount equal to 5 percent of any foreign assets seized through the enforcement of sanctions imposed by the United States. (b) Use of amounts The Director of the Office of Foreign Assets Control may use amounts deposited into the programs account under subsection (a) for the same purposes as amounts appropriated to that account. (c) Availability Amounts deposited under subsection (a) shall be available until expended.