S. 3685

119 S3685 IS: No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act
 U.S. Senate
 2026-01-15
 text/xml
 EN
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 II  119th CONGRESS  2d Session  S. 3685  IN THE SENATE OF THE UNITED STATES   January 15, 2026   Mr. Bennet  (for himself,  Mr. Welch ,  Mr. Kaine ,  Mr. Van Hollen ,  Mr. Reed ,  Mr. Hickenlooper , and  Mr. Schiff ) introduced the following bill; which was read twice and referred to the  Committee on Banking, Housing, and Urban Affairs    A BILL
To prohibit appropriations of funds for the payment of reimbursements for
 capital expenditures in the oil and gas sector, and for other purposes.
1.
Short title
This Act may be cited as the   No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act  .
2.
No payment of reimbursements for qualified capital expenditures
(a)
Definitions
In this section:
(1)
Capital expenditure
The term  capital expenditure  means any amount paid for new buildings or for permanent improvements or betterments made to increase the value of any property or estate.
(2)
Person
The term  person  means—
(A)
any United States citizen or alien admitted for permanent residence in the United States; and
(B)
any foreign or domestic corporation, partnership, or other organization.
(3)
Qualified capital expenditure
The term  qualified capital expenditure  means a capital expenditure made in the oil and gas sector located in the Bolivarian Republic of Venezuela, or a legal successor.
(b)
Prohibiting certain payments
Notwithstanding any other provision of law, no funds may be obligated, expended, or otherwise made available from the Treasury of the United States or any account owned, controlled, or accessible by the United States or a person acting on behalf of the United States for the payment of reimbursements for qualified capital expenditures by a person.