Bill > HR7038

This bill, titled the "Protecting Taxpayers from Risky Investments in Venezuela Act," aims to prevent the United States government from financially supporting Venezuela's oil and petroleum industry. It explicitly prohibits any federal funds from being used for activities such as financing, insuring, guaranteeing, contracting for, or otherwise supporting the development, maintenance, or expansion of Venezuela's oil infrastructure. This includes construction, repairs, property purchases, insurance costs, loan guarantees, tax incentives, royalty relief, payments to individuals or corporations, and any government advocacy for Venezuela's oil sector, even in international forums. An exception is made only if Congress explicitly authorizes such expenditures through a new Act. Furthermore, the bill requires the Secretary of State to submit an annual report to specific congressional committees, detailing any related expenditures or activities and certifying compliance with the Act. The "appropriate congressional committees" are defined as key committees in both the Senate and House of Representatives that oversee foreign relations, appropriations, and the budget.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/7038/all-info