To authorize the Secretary of the Treasury to pay rewards under an asset recovery rewards program to help identify and recover stolen assets linked to foreign government corruption and the proceeds of such corruption hidden behind complex financial structures in the United States and abroad.
Kleptocracy Asset Recovery Rewards Act
This bill establishes in the Department of the Treasury the Kleptocracy Asset Recovery Rewards Program. The program may provide rewards to individuals furnishing information leading to the restraining, seizure, forfeiture, or repatriation of stolen assets linked to foreign government corruption.
A person is ineligible for a reward if they are an officer or employee of a federal, state, local, or foreign government and furnish such information in the course of their official duties. A person may be ineligible if Treasury reasonably believes that such person knowingly participated in certain forms of government corruption.
The bill provides for the administration of the program, including reward payment and eligibility.
Rewards must, to the extent possible, be paid first from any recovered assets.
Treasury must obtain approval from the Department of Justice before paying a reward under this Act in a matter where there is federal criminal jurisdiction.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Unanimous Consent.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-60.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-60.
Placed on the Union Calendar, Calendar No. 38.
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H3764-3767)
DEBATE - The House proceeded with forty minutes of debate on H.R. 389.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H3764-3766)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3764-3766)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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