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Tax on Frozen Russian and Belarusian Assets for Ukraine Reconstruction

This act imposes a 100% tax on income (interest and dividends) from frozen assets of the Russian and Belarusian governments in the U.S. The collected funds will be directed to the newly established Ukraine Reconstruction Trust Fund, supporting rebuilding efforts, humanitarian aid, and economic development. U.S. citizens are not directly taxed, but may experience indirect effects through foreign policy and international stability.
Key points
Imposition of a 100% tax on income (interest and dividends) from frozen assets of the Russian and Belarusian governments in the United States.
Establishment of the Ukraine Reconstruction Trust Fund, to which all proceeds from this tax will be transferred.
The fund will finance reconstruction, humanitarian assistance, economic growth, and transparent governance in Ukraine.
The U.S. will diplomatically encourage other countries to transfer income from frozen Russian assets to Ukraine.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_6416
Sponsor: Rep. Doggett, Lloyd [D-TX-37]
Process start date: 2023-11-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Russian War Crimes in Ukraine Tax Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6416.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-11-15.

What are the main provisions?

Key points include:

  • Imposition of a 100% tax on income (interest and dividends) from frozen assets of the Russian and Belarusian governments in the United States.
  • Establishment of the Ukraine Reconstruction Trust Fund, to which all proceeds from this tax will be transferred.
  • The fund will finance reconstruction, humanitarian assistance, economic growth, and transparent governance in Ukraine.
  • The U.S. will diplomatically encourage other countries to transfer income from frozen Russian assets to Ukraine.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Doggett, Lloyd [D-TX-37].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 5.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy Security