Section 1 Short title
This Act may be cited as the “Sanctions Recovery Act of 2024”.
Sanctions Recovery Act of 2024
A BILL
To authorize the Director of the Office of Foreign Assets Control of the Department of the Treasury to use a portion of the amounts seized through the enforcement of sanctions to recover the costs of such enforcement.
Sec. 2 Use of portion of foreign assets seized through sanctions enforcement to recover costs
In general— The Director of the Office of Foreign Assets Control of the Department of the Treasury may deposit into the programs account of the Office of Foreign Assets Control an amount equal to 5 percent of any foreign assets seized through the enforcement of sanctions imposed by the United States.
Use of amounts— The Director of the Office of Foreign Assets Control may use amounts deposited into the programs account under subsection (a) for the same purposes as amounts appropriated to that account.
Availability— Amounts deposited under subsection (a) shall be available until expended.