H.R. 9039: Preserving Accountability for National Assets Act of 2026

This bill, known as the Preserving Accountability for National Assets Act of 2026, proposes the creation of a fund named the Venezuela Restoration Fund, which would be established in the U.S. Treasury. The fund would consist of amounts deposited from specific forfeited assets related to individuals or entities linked to the Venezuelan regimes of Hugo Chávez or Nicolás Maduro.

Purpose of the Fund

The Venezuela Restoration Fund would serve several key purposes:

• **Strengthening democratic governance** and institutions in Venezuela.
• **Defending human rights**, including support for documenting crimes against humanity and human rights abuses in the country.
• **Supporting independent media outlets** in Venezuela to enable information sharing.
• **Combating corruption** and enhancing transparency and accountability in Venezuelan governing institutions and state-owned enterprises.

Use of the Funds

The funds collected in the Venezuela Restoration Fund would be accessible to the Secretary of State for the above-mentioned purposes without needing annual appropriations or limitations based on fiscal years. The fund could also be directed to support both governmental and nongovernmental organizations that work towards these objectives, ensuring alignment with existing U.S. foreign policy and anti-corruption initiatives.

Funding Sources

Funding for the Venezuela Restoration Fund would come specifically from any assets or funds forfeited to the U.S. that are linked to individuals or entities connected to the Venezuelan regimes in question, specifically from after the bill’s enactment date.

Reporting Requirements

The bill also includes a requirement for regular reports. At least once a year, the Secretary of the Treasury, in consultation with the Secretary of State, must report to designated congressional committees. This report would detail:

• The total amount and source of the funds deposited into the Venezuela Restoration Fund.
• A summary of how those funds have been allocated and spent.

Definition of Congressional Committees

The bill identifies the congressional committees that will receive the reports, which include:

• The Committee on Foreign Affairs of the House of Representatives.
• The Committee on Foreign Relations of the Senate.
• The Committee on Appropriations of the House of Representatives.
• The Committee on Appropriations of the Senate.

Relevant Companies

None found.