Bill > S3621

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 funds appropriated or made available to any U.S. government department or agency, or any account controlled by the U.S., from being used to finance, subsidize, insure, guarantee, contract for, or otherwise support the development, maintenance, or expansion of oil or gas infrastructure in Venezuela. This includes activities like construction, repair, purchase of property, insurance costs, loan guarantees, tax incentives, royalty relief, payments to individuals or corporations, and any form of advocacy or promotion by U.S. government officials for Venezuela's oil sector, even at international forums. An exception exists if Congress explicitly authorizes such expenditures through a separate Act after this bill becomes law. Furthermore, the Secretary of State is required 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.

Government Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/3621/all-info