Protecting Taxpayers from Risky Investments in Venezuela Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7038 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 7038

 To prohibit the United States Government from funding Venezuela's oil 
                infrastructure, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 13, 2026

   Mr. Levin (for himself, Ms. Escobar, Mr. Doggett, Mr. Casten, Mr. 
 Stanton, Mr. Vargas, Mr. Min, Ms. Friedman, Mr. Liccardo, Ms. Norton, 
Ms. Matsui, Mrs. Foushee, and Mr. Ruiz) introduced the following bill; 
         which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

                                 A BILL


 
 To prohibit the United States Government from funding Venezuela's oil 
                infrastructure, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Taxpayers from Risky 
Investments in Venezuela Act''.

SEC. 2. DEFINED TERM.

    In this Act, the term ``appropriate congressional committees'' 
means--
            (1) the Committee on Foreign Relations of the Senate;
            (2) the Committee on Appropriations of the Senate;
            (3) the Committee on the Budget of the Senate;
            (4) the Committee on Foreign Affairs of the House of 
        Representatives;
            (5) the Committee on Appropriations of the House of 
        Representatives; and
            (6) the Committee on the Budget of the House of 
        Representatives.

SEC. 3. PROHIBITION ON THE USE OF FEDERAL FUNDS TO SUPPORT VENEZUELA'S 
              OIL AND PETROLEUM INFRASTRUCTURE.

    (a) Prohibition.--Except as provided in subsection (b), none of the 
funds appropriated or otherwise made available for any department or 
agency of the United States Government or for any account owned, 
controlled, or accessible by the United States, or a person acting on 
behalf of the United States, may be used to finance, subsidize, insure, 
guarantee, contract for, or otherwise support the development, 
maintenance, or expansion of oil infrastructure or the petroleum sector 
in Venezuela, including--
            (1) the construction, installation, manufacture, 
        development, modernization, repair, or permanent improvement of 
        any oil or gas infrastructure in Venezuela;
            (2) the purchase of real property, including a 
        reimbursement for any such purchase;
            (3) insurance costs, loan guarantees, tax incentives, and 
        royalty relief;
            (4) any payments made to individuals or domestic, 
        international, or multinational corporations; and
            (5) any form of advocacy, promotion, or support provided by 
        officers or employees of the United States Government for the 
        benefit of Venezuela's oil infrastructure or petroleum sector, 
        including at international financial institutions, multilateral 
        organizations, or diplomatic forums.
    (b) Exception.--The prohibition under subsection (a) shall not 
apply to any expenditure explicitly authorized by an Act of Congress 
after the date of the enactment of this Act.

SEC. 4. ANNUAL REPORT.

    Not later than 180 days after the date of the enactment of this 
Act, and annually thereafter, the Secretary of State shall submit a 
report to the appropriate congressional committees that--
            (1) describes any expenditures or activities related to 
        Venezuela's oil infrastructure or petroleum sector; and
            (2) certifies compliance with this Act.
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