Asset Seizure for Ukraine Reconstruction Act
Summary
Asset Seizure for Ukraine Reconstruction Act This bill authorizes the President to confiscate the property of certain foreign persons (i.e., individuals or entities) that derive wealth through political support for or corruption linked to Russian President Vladimir Putin. The President may also liquidate the confiscated property and use the resulting funds to provide assistance to Ukraine. Specifically, upon a declaration of a national emergency relating to Russia's invasion of Ukraine, the President may confiscate the property of such a person if (1) the property is valued at more than $2 million; and (2) the person is subject to U.S. sanctions relating to corruption, human rights violations, Russia's malign influence, or conflicts in Ukraine.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2022
Committee Review
Floor Vote
President
Introduced Mar 15, 2022
Last action Mar 15, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Mar 15, 2022
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Mar 15, 2022
Introduced
Introduced in Senate
upper
1 primary · 5 co-sponsors
Sponsors
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