H.R.389 - Kleptocracy Asset Recovery Rewards Act116th Congress (2019-2020) |
|Sponsor:||Rep. Lynch, Stephen F. [D-MA-8] (Introduced 01/09/2019)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Meetings:||03/26/19 2:00PM 03/13/19 2:00PM|
|Committee Reports:||H. Rept. 116-60|
|Latest Action:||Senate - 05/15/2019 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.389 — 116th Congress (2019-2020)All Information (Except Text)
Passed House (05/14/2019)
Kleptocracy Asset Recovery Rewards Act
This bill establishes in the Department of the Treasury the Kleptocracy Asset Recovery Rewards Program. The program may provide rewards to individuals furnishing information leading to the restraining, seizure, forfeiture, or repatriation of stolen assets linked to foreign government corruption.
A person is ineligible for a reward if they are an officer or employee of a federal, state, local, or foreign government and furnish such information in the course of their official duties. A person may be ineligible if Treasury reasonably believes that such person knowingly participated in certain forms of government corruption.
The bill provides for the administration of the program, including reward payment and eligibility.
Rewards must, to the extent possible, be paid first from any recovered assets.
Treasury must obtain approval from the Department of Justice before paying a reward under this Act in a matter where there is federal criminal jurisdiction.