A bill to provide for the adjudication and payment of certain claims against the Government of Iraq.

Declares that all nondiplomatic accounts of the Government of Iraq in the United States that have been blocked pursuant to the International Emergency Economic Powers Act shall vest in, and be liquidated by, the President. Directs the Secretary of the Treasury, upon the vesting of the accounts, to establish within the Treasury the Iraq Claims Fund for payment of private or U.S. Government claims. Requires the President to determine the validity and amounts of U.S. Government claims against the Government of Iraq. Authorizes the Foreign Claims Settlement Commission of the United States to receive and determine the validity and amounts of private claims against Iraq.