Section 1 Short title
This Act may be cited as the “No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act”.
No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act
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.
Sec. 2 No payment of reimbursements for qualified capital expenditures
Definitions— In this section:
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.
Person— The term person means—
any United States citizen or alien admitted for permanent residence in the United States; and
any foreign or domestic corporation, partnership, or other organization.
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.
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.