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Russian War Crimes in Ukraine Tax Act

Introduced: November 15, 2023 Introduced by: Doggett, Lloyd Democratic · Texas See on congress.gov

Everywhere this bill has been 4 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 13, 2023

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 5.

Dec 13, 2023

Committee Consideration and Mark-up Session Held

Nov 15, 2023

Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Nov 15, 2023

Introduced in House

Plain-English summary Congressional Research Service

Russian War Crimes in Ukraine Tax Act

This bill imposes a 100% excise tax on certain assets of Russia and Belarus that have been frozen in connection with the invasion of Ukraine.

The bill establishes the Ukraine Reconstruction Trust Fund to hold tax revenues generated by this bill. Such revenues shall be used for the benefit of Ukraine, including reconstruction and rebuilding efforts, humanitarian assistance, and the fostering of long-term economic growth.

The Department of State must direct the U.S. Permanent Representative to the United Nations to use U.S. influence to encourage the transfer of capital gains on Russian sovereign assets to Ukraine.

What's happening now December 13, 2023

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 5.

Committees of jurisdiction 2