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Sanctions Enforcement Funding: Using 5% of Seized Assets for Operational Costs

This bill authorizes the government agency responsible for enforcing sanctions (OFAC) to retain 5% of the value of seized foreign assets. These funds will be used specifically to cover the operational costs associated with carrying out sanctions enforcement activities. The goal is to make the sanctions enforcement process more self-sustaining, reducing reliance on general taxpayer funds for these specific expenses.
Key points
The OFAC agency is authorized to deposit 5% of seized foreign assets into its programs account.
These funds will be used exclusively to recover the costs of enforcing sanctions imposed by the United States.
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Expired
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Additional Information
Print number: 118_S_3913
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2024-03-12
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Sanctions Recovery Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3913.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-12.

What are the main provisions?

Key points include:

  • The OFAC agency is authorized to deposit 5% of seized foreign assets into its programs account.
  • These funds will be used exclusively to recover the costs of enforcing sanctions imposed by the United States.
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 Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Security Economy