A bill to provide for making of payments to certain citizens and nationals of the United States held hostage in Iran, and for other purposes.

Conveys all right to $1,000,000,000 of the blocked Iranian assets to the United States. Establishes the Iranian Claims Fund in the U.S. Treasury to contain such assets.

Directs the Secretary of the Treasury to use such Fund to pay specified amounts to the U.S. hostages held in Iran or their legal representatives. Directs the Secretary to make payments out of any remaining amounts to: (1) the estates of those members of the uniformed services who died performing duties in response to the taking of the hostages; and (2) those Federal agencies which have incurred expenses while performing duties in response to the taking of the hostages. Directs the Secretary to convey the balance into miscellaneous receipts of the Treasury.

Declares that any payment made pursuant to this Act shall not be construed as having divested any U.S. claimant of any rights against Iran, subject to any claims agreement between Iran and the United States.