A bill to facilitate the adjudication of certain claims of United States nationals against Iran, to authorize the recovery of costs incurred by the United States in connection with the arbitration of claims of United States nationals against Iran, and for other purposes.
Iran Claims Act - Authorizes the U.S. Foreign Claims Settlement Commission to determine the validity of claims by U.S. nationals against Iran within: (1) the jurisdiction of the Iran-United States Claims Tribunal; or (2) the terms of an agreement for an en bloc settlement. Requires the Commission to certify to the Secretary of the Treasury any awards made. Authorizes the Secretary to make payments of the lesser of $10,000 or the principal amount of an award.
Deducts two percent of the amount of an award as reimbursement to the U.S. Government, the Federal Reserve Bank of New York, and other agencies for expenses incurred in the arbitration of the claim. Declares that such deduction shall not apply to an amount awarded for an en bloc settlement.
Authorizes the Secretary to reimburse the Federal Reserve Bank of New York for expenses incurred in the settlement or arbitration of such claims.
Subcommittee Hearings Held.
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations.
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