S.1180 - Libyan Assets for Humanitarian Relief Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Johnson, Tim [D-SD] (Introduced 06/13/2011)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||06/13/2011 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.1180 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (06/13/2011)
Libyan Assets for Humanitarian Relief Act of 2011 - Amends the International Emergency Economic Powers Act to authorize the President to: (1) confiscate and vest funds and other property of the government of Libya that are subject to U.S. jurisdiction, and (2) liquidate or sell any of such property. Limits the amount of funds that may be taken.
Requires that confiscated and vested funds be deposited in an account for confiscated property (as required to be established by this Act).
Authorizes the President to transfer account funds to: (1) executive agencies or other persons to be used for humanitarian relief for the people of Libya, and (2) a U.S.-recognized successor government of Libya.
Prohibits fund transfers for weapons purchases or to organizations or persons involved in terrorism or human rights violations.
Sets forth provisions regarding: (1) congressional notification, (2) reporting and recordkeeping, (3) confiscation of property, and (4) judicial review.
Defines "government of Libya" as the government of Libya on the date of enactment of this Act, including any agency or instrumentality of that government, any entity controlled by that government, and the Central Bank of Libya, while excluding any successor government of Libya.