Q: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Gulf War Veterans' Iraqi Claims
Protection Act of 1999''.

SEC. 2. ADJUDICATION OF CLAIMS.

(a) Claims Against Iraq.--The United States Commission is
authorized to receive and determine the validity and amounts of any
claims by nationals of the United States against the Government of
Iraq. Such claims must be submitted to the United States Commission
within the period specified by such Commission by notice published in
the Federal Register. The United States Commission shall certify to
each claimant the amount determined by the Commission to be payable on
the claim under this Act.
(b) Decision Rules.--In deciding claims under subsection (a), the
United States Commission shall apply, in the following order--
(1) applicable substantive law, including international
law; and
(2) applicable principles of justice and equity.
(c) Priority Claims.--Before deciding any other claim against the
Government of Iraq, the United States Commission shall, to the extent
practical, decide all pending non-commercial claims of active, retired,
or reserve members of the United States Armed Forces, retired former
members of the United States Armed Forces, and other individuals
arising out of Iraq's invasion and occupation of Kuwait or out of the
1987 attack on the USS Stark.
(d) Applicability of International Claims Settlement Act.--To the
extent they are not inconsistent with the provisions of this Act, the
provisions of title I (other than section 2(c)) and title VII of the
International Claims Settlement Act of 1949 (22 U.S.C. 1621-1627 and
1645-1645o) shall apply with respect to claims under this Act.

SEC. 3. CLAIMS FUNDS.

(a) Iraq Claims Fund.--The Secretary of the Treasury is authorized
to establish in the Treasury of the United States a fund (hereafter in
this Act referred to as the ''Iraq Claims Fund'') for payment of claims
certified under section 2(a). The Secretary of the Treasury shall cover
into the Iraq Claims Fund such amounts as are allocated to such fund
pursuant to subsection (b).
(b) Allocation of Proceeds From Iraqi Asset Liquidation.--
(1) In general.--The President shall allocate funds
resulting from the liquidation of assets pursuant to section 4
in the manner the President determines appropriate between the
Iraq Claims Fund and such other accounts as are appropriate for
the payment of claims of the United States Government against
Iraq, subject to the limitation in paragraph (2).
(2) Limitation.--The amount allocated pursuant to this
subsection for payment of claims of the United States
Government against Iraq may not exceed the amount which bears
the same relation to the amount allocated to the Iraq Claims
Fund pursuant to this subsection as the sum of all certified
claims of the United States Government against Iraq bears to
the sum of all claims certified under section 2(a). As used in
this paragraph, the term ''certified claims of the United
States Government against Iraq'' means those claims of the
United States Government against Iraq which are determined by
the Secretary of State to be outside the jurisdiction of the
United Nations Commission and which are determined to be valid,
and whose amount has been certified, under such procedures as
the President may establish.

SEC. 4. AUTHORITY TO VEST IRAQI ASSETS.

The President is authorized to vest and liquidate as much of the
assets of the Government of Iraq in the United States that have been
blocked pursuant to the International Emergency Economic Powers Act (50
U.S.C. 1701 et seq.) as may be necessary to satisfy claims under
section 2(a), claims of the United States Government against Iraq which
are determined by the Secretary of State to be outside the jurisdiction
of the United Nations Commission, and administrative expenses under
section 5.

SEC. 5. REIMBURSEMENT FOR ADMINISTRATIVE EXPENSES.

(a) Deduction.--In order to reimburse the United States Government
for its expenses in administering this Act, the Secretary of the
Treasury shall deduct 1.5 percent of any amount covered into the Iraq
Claims Fund to satisfy claims under this Act.
(b) Deductions Treated as Miscellaneous Receipts.--Amounts deducted
pursuant to subsection (a) shall be deposited in the Treasury of the
United States as miscellaneous receipts.

SEC. 6. PAYMENTS.

(a) In General.--The United States Commission shall certify to the
Secretary of the Treasury each award made pursuant to section 2. The
Secretary of the Treasury shall make payment, out of the Iraq Claims
Fund, in the following order of priority to the extent funds are
available in such fund:
(1) Payment of $10,000 or the principal amount of the
award, whichever is less.
(2) For each claim that has priority under section 2(c),
payment of an additional $90,000 toward the unpaid balance of
the principal amount of the award.
(3) Payments from time to time in ratable proportions on
account of the unpaid balance of the principal amounts of all
awards according to the proportions which the unpaid balance of
such awards bear to the total amount in the Iraq Claims Fund
that is available for distribution at the time such payments
are made.
(4) After payment has been made of the principal amounts of
all such awards, pro rata payments on account of accrued
interest on such awards as bear interest.
(b) Unsatisfied Claims.--Payment of any award made pursuant to this
Act shall not extinguish any unsatisfied claim, or be construed to have
divested any claimant, or the United States on his or her behalf, of
any rights against the Government of Iraq with respect to any
unsatisfied claim.

SEC. 7. AUTHORITY TO TRANSFER RECORDS.

The head of any Executive agency may transfer or otherwise make
available to the United States Commission such records and documents
relating to claims authorized to be determined under this Act as may be
required by the United States Commission in carrying out its functions
under this Act.

SEC. 8. STATUTE OF LIMITATIONS; DISPOSITION OF UNUSED FUNDS.

(a) Statute of Limitations.--Any demand or claim for payment on
account of an award that is certified under this Act shall be barred on
and after the date that is one year after the date of publication of
the notice required by subsection (b).
(b) Publication of Notice.--
(1) In general.--At the end of the 9-year period specified
in paragraph (2), the Secretary of the Treasury shall publish a
notice in the Federal Register detailing the statute of
limitations provided for in subsection (a) and identifying the
claim numbers of, and the names of the claimants holding,
unpaid certified claims.
(2) Publication date.--The notice required by paragraph (1)
shall be published 9 years after the last date on which the
Secretary of the Treasury covers into the Iraq Claims Fund
amounts allocated to that fund pursuant to section 3(b).
(c) Disposition of Unused Funds.--
(1) Disposition.--At the end of the 2-year period beginning
on the publication date of the notice required by subsection
(b), the Secretary of the Treasury shall dispose of all unused
funds described in paragraph (2) by depositing in the Treasury
of the United States as miscellaneous receipts any such funds
that are not used for payments of certified claims under this
Act.
(2) Unused funds.--The unused funds referred to in
paragraph (1) are any remaining balance in the Iraq Claims
Fund.

SEC. 9. DEFINITIONS.

As used in this Act:
(1) Executive agency.--The term ''Executive agency'' has
the meaning given that term by section 105 of title 5, United
States Code.
(2) Government of iraq.--The term ''Government of Iraq''
includes agencies, instrumentalities, and entities controlled
by that government (including public sector enterprises).
(3) United nations commission.--The term ''United Nations
Commission'' means the United Nations Compensation Commission
established pursuant to United Nations Security Council
Resolution 687 (1991).
(4) United states commission.--The term ''United States
Commission'' means the Foreign Claims Settlement Commission of
the United States.
A:
Authorizes the Secretary of the Treasury to establish in the Treasury an Iraq Claims Fund for the payment of such claims. Authorizes the President, subject to specified limitations, to vest and liquidate Iraqi Government assets in the United States that have been blocked pursuant to the International Emergency Economic Powers Act, and allocate the proceeds to the Fund to satisfy claims against the Government of Iraq by U.S. nationals, as well as claims of the U.S. Government that are outside the jurisdiction of the United Nations Compensation Commission. Provides for the reimbursement to the U.S. Government of expenses incurred in administering this Act. Establishes an order of priority for payment of claims.
Directs the U.S. Commission to certify to the Secretary each award made under this Act. Sets forth a ten-year statute of limitations on any demand or claim for the payment of such an award.