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Securing Compensation and Annual Payments for US Victims of State-Sponsored Terrorism.

This Act ensures consistent and substantial compensation for US victims of state-sponsored terrorism by securing major new funding sources for the Victims Fund. It mandates the transfer of large criminal fines, including funds from the Binance case, and portions of excess balances from government forfeiture funds. This establishes a reliable, annual payment schedule for eligible claimants starting in 2025.
Key points
Establishes mandatory annual compensation payments for terrorism victims starting January 1, 2025.
Directs significant new funds, including the $898 million fine from the Binance case, into the Victims of State Sponsored Terrorism Fund.
Requires that all future criminal fines and 75% of civil fines related to state sponsors of terrorism be deposited into the Fund.
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Status:
Expired
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Additional Information
Print number: 118_HR_8419
Sponsor: Rep. Lawler, Michael [R-NY-17]
Process start date: 2024-05-16