American Victims of Terrorism Compensation Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The American Victims of Terrorism Compensation Act amends the Justice for United States Victims of State Sponsored Terrorism Act to improve the funding and distribution of compensation to victims of state-sponsored terrorism. Specifically, it directs the transfer of forfeited assets from Binance and the Department of Justice, establishes a process for depositing funds from Treasury and Justice Forfeiture Funds into the Victims Fund, and clarifies the timeline for distributing payments. The bill also aims to ensure consistent and meaningful distributions from the Victims Fund and provides for annual reporting on its activities.
Key provisions
- Transfers forfeited assets from Binance Holdings Limited and the Department of Justice into the Victims Fund.
- Directs the deposit of funds from the Department of Justice Assets Forfeiture Fund and the Department of the Treasury Forfeiture Fund into the Victims Fund.
- Establishes a deadline for distributing fifth-round payments to eligible claimants.
- Requires the Special Master to report on the Fund's activity annually, including details on deposits, disbursements, and outstanding claims.
- Mandates a GAO report on available forfeited funds exceeding $10 million.
- Authorizes the use of up to 10 Department of Justice personnel to assist the Special Master.
- Directs the deposit of remaining lump sum catch-up payment reserve fund amounts into the Victims Fund.
- Clarifies the timing for distributing supplemental fifth-round payments.
Who is affected
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Sponsors
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7 on record
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