A bill to amend the International Claims Settlement Act of 1949 to provide for the determination of the validity and amounts of claims of nationals of the United States against the German Democratic Republic.

Amends the International Claims Settlement Act of 1949 to direct the Foreign Claims Settlement Commission of the United States to determine the validity and amounts of claims by United States nationals against the German Democratic Republic for losses arising from nationalization, expropriation, or other taking of property. Specifies procedures for such determinations.

Directs the Secretary of the Treasury to establish a Claims Fund and to make settlement payments certified by the Commission. Sets forth procedures and regulation for such payments.