[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7086 Introduced in House (IH)]
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117th CONGRESS
2d Session
H. R. 7086
To amend section 981 of title 18, United States Code, to subject
property attributable to certain sanctioned individuals to forfeiture
to the United States.
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IN THE HOUSE OF REPRESENTATIVES
March 15, 2022
Mr. Cohen (for himself, Mr. Wilson of South Carolina, Mr. Malinowski,
and Ms. Salazar) introduced the following bill; which was referred to
the Committee on the Judiciary, and in addition to the Committee on
Foreign Affairs, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
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A BILL
To amend section 981 of title 18, United States Code, to subject
property attributable to certain sanctioned individuals to forfeiture
to the United States.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Oligarch Asset Forfeiture Act''.
SEC. 2. FORFEITURE OF ASSETS.
Section 981(a)(1)(G) of title 18, United States Code, is amended--
(1) in clause (iii) by striking ``or'' at the end;
(2) in clause (iv) by striking the period at the end and
inserting ``; or''; and
(3) by adding at the end the following:
``(v) of any foreign individual or entity
beneficially owned by, or attributed to, a foreign
individual sanctioned under Executive Order 14024 (86
Fed. Reg. 20249; relating to blocking property with
respect to specified harmful foreign activities of the
Government of the Russian Federation), Executive Order
13661 (79 Fed. Reg. 15535; relating to blocking
property of additional persons contributing to the
situation in Ukraine), Executive Order 13662 (79 Fed.
Reg. 16169; relating to blocking property of additional
persons contributing to the situation in Ukraine),
section 222 of the Countering America's Adversaries
Through Sanctions Act (22 U.S.C. 9522), or the Sergei
Magnitsky Rule of Law Accountability Act of 2012 (22
U.S.C. 5811 note).''.
SEC. 3. EXPIRATION AND USE OF ASSETS.
(a) Expiration.--
(1) Certification.--The President shall submit to Congress
a certification indicating when the war of aggression initiated
by the Russian Federation in February 2022 against Ukraine has
concluded, as determined by the President.
(2) Sunset.--Effective on the date on which the President
submits the certification described in paragraph (1), section
981(a)(1)(G) of title 18, United States Code, is amended--
(A) in clause (iii), by adding ``or'' at the end;
(B) in clause (iv), by striking ``; or'' and
inserting a period; and
(C) by striking clause (v).
(b) Use of Assets.--The Federal Government--
(1) may sell an asset seized under clause (v) of section
981(a)(1)(G) of title 18, United States Code; and
(2) notwithstanding section 524(c)(4) of title 28, United
States Code, at the discretion of the President, may use the
proceeds of the sale of an asset described in paragraph (1) of
this subsection--
(A) for humanitarian assistance for Ukrainian
refugees; or
(B) for rebuilding Ukraine once hostilities have
ceased.
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