No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3685 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3685

 To prohibit appropriations of funds for the payment of reimbursements 
   for capital expenditures in the oil and gas sector, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 15, 2026

  Mr. Bennet (for himself, Mr. Welch, Mr. Kaine, Mr. Van Hollen, Mr. 
Reed, Mr. Hickenlooper, and Mr. Schiff) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To prohibit appropriations of funds for the payment of reimbursements 
   for capital expenditures in the oil and gas sector, 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 ``No Taxpayer Funds for Corporate 
Investment in Venezuelan Oil Act''.

SEC. 2. NO PAYMENT OF REIMBURSEMENTS FOR QUALIFIED CAPITAL 
              EXPENDITURES.

    (a) Definitions.--In this section:
            (1) Capital expenditure.--The term ``capital expenditure'' 
        means any amount paid for new buildings or for permanent 
        improvements or betterments made to increase the value of any 
        property or estate.
            (2) Person.--The term ``person'' means--
                    (A) any United States citizen or alien admitted for 
                permanent residence in the United States; and
                    (B) any foreign or domestic corporation, 
                partnership, or other organization.
            (3) Qualified capital expenditure.--The term ``qualified 
        capital expenditure'' means a capital expenditure made in the 
        oil and gas sector located in the Bolivarian Republic of 
        Venezuela, or a legal successor.
    (b) Prohibiting Certain Payments.--Notwithstanding any other 
provision of law, no funds may be obligated, expended, or otherwise 
made available from the Treasury of the United States or any account 
owned, controlled, or accessible by the United States or a person 
acting on behalf of the United States for the payment of reimbursements 
for qualified capital expenditures by a person.
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