[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5003 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  2d Session
                                S. 5003

       To promote democracy in Venezuela, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 10, 2024

Mr. Risch (for himself, Mr. Bennet, Mr. Cassidy, Mr. Scott of Florida, 
 Mr. Hagerty, Mr. Sullivan, and Mr. Barrasso) introduced the following 
  bill; which was read twice and referred to the Committee on Foreign 
                               Relations

_______________________________________________________________________

                                 A BILL


 
       To promote democracy in Venezuela, 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; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Venezuela 
Advancing Liberty, Opportunity, and Rights Act of 2024'' or the ``VALOR 
Act of 2024''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Statement of policy.
Sec. 3. Appropriate congressional committees defined.
   TITLE I--DETERMINATIONS OF A DEMOCRATICALLY ELECTED GOVERNMENT IN 
                               VENEZUELA

Sec. 101. Determinations of a democratically elected government in 
                            Venezuela.
           TITLE II--PROMOTING DEMOCRATIC CHANGE IN VENEZUELA

Sec. 201. United States policy regarding participation of Venezuela in 
                            international financial institutions.
Sec. 202. United States policy regarding participation of Venezuela in 
                            the Organization of American States.
Sec. 203. Authorization of support for democratic and human rights 
                            groups and international observers.
Sec. 204. Support for the people of Venezuela.
                          TITLE III--SANCTIONS

Sec. 301. Definitions.
Sec. 302. Blocking international support for a nondemocratic government 
                            in Venezuela.
Sec. 303. Financial sanctions with respect to debt instruments of 
                            Maduro regime.
Sec. 304. Sanctions with respect to cryptocurrency and related 
                            technologies in Venezuela.
Sec. 305. Blocking property of the Government of Venezuela.
Sec. 306. Termination of sanctions.
Sec. 307. Implementation; penalties.
Sec. 308. Report on specific licenses that authorize transactions with 
                            sanctioned persons.
Sec. 309. Report on foreign persons doing business with the Maduro 
                            regime.
        TITLE IV--ASSISTANCE TO A FREE AND INDEPENDENT VENEZUELA

Sec. 401. Assistance for the people of Venezuela.
Sec. 402. Report on trade and investment relations between the United 
                            States and Venezuela.
                      TITLE V--GENERAL PROVISIONS

Sec. 501. Effect on lawful United States Government activities.
Sec. 502. Exception relating to importation of goods.

SEC. 2. STATEMENT OF POLICY.

    It is the policy of the United States--
            (1) to seek a peaceful transition to democracy in Venezuela 
        through support for the people of Venezuela, and the use of the 
        full range of diplomatic tools, including the careful 
        application of sanctions directed at the regime of Nicolas 
        Maduro and any nondemocratic successor government;
            (2) to seek the cooperation of other democratic countries 
        in supporting a transition described in paragraph (1);
            (3) to stop the evasion of United States sanctions on the 
        Maduro regime and to seek the speedy termination of any 
        remaining military, security, or technical assistance, 
        subsidies, or other forms of assistance to the Maduro regime 
        and any nondemocratic successor government from the government 
        of any other country, including the governments of the Republic 
        of Cuba, the Islamic Republic of Iran, the Russian Federation, 
        and the People's Republic of China;
            (4) to maintain sanctions on the Maduro regime so long as 
        it continues to refuse to move toward democratization and 
        greater respect for internationally recognized human rights; 
        and
            (5) to be prepared to reduce the sanctions imposed with 
        respect to Venezuela in carefully calibrated ways in response 
        to demonstrable progress toward democratization in Venezuela as 
        described in paragraph (1).

SEC. 3. APPROPRIATE CONGRESSIONAL COMMITTEES DEFINED.

    In this Act, the term ``appropriate congressional committees'' 
means--
            (1) the Committee on Foreign Relations and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate; and
            (2) the Committee on Foreign Affairs and the Committee on 
        Financial Services of the House of Representatives.

   TITLE I--DETERMINATIONS OF A DEMOCRATICALLY ELECTED GOVERNMENT IN 
                               VENEZUELA

SEC. 101. DETERMINATIONS OF A DEMOCRATICALLY ELECTED GOVERNMENT IN 
              VENEZUELA.

    (a) In General.--Upon making a determination that a democratically 
elected government is in power in Venezuela, the President shall submit 
that determination to the appropriate congressional committees.
    (b) Requirements for Determining a Democratically Elected 
Government Is in Power in Venezuela.--For the purposes of making a 
determination under subsection (a), a democratically elected government 
in Venezuela is a government that--
            (1) results from free and fair elections--
                    (A) conducted under the supervision of 
                internationally recognized election observers; and
                    (B) in which--
                            (i) all qualified candidates were allowed 
                        to participate;
                            (ii) opposition parties were permitted 
                        ample time to organize and campaign for such 
                        elections; and
                            (iii) all qualified candidates were 
                        permitted full access to the media;
            (2) is making demonstrable progress in--
                    (A) establishing an independent judiciary;
                    (B) respecting internationally recognized human 
                rights, basic civil liberties, and fundamental freedoms 
                as set forth in the Universal Declaration of Human 
                Rights, which was adopted unanimously by the United 
                Nations General Assembly and supported by Venezuela;
                    (C) allowing the establishment of independent 
                social, economic, and political associations;
                    (D) effectively guaranteeing the rights of free 
                speech and freedom of the press, including granting 
                permits to privately owned media and telecommunications 
                companies to operate in Venezuela; and
                    (E) assuring the right to private property;
            (3) does not include Nicolas Maduro or any persons--
                    (A) with respect to which sanctions have been 
                imposed by the Office of Foreign Assets Control; or
                    (B) sought by the United States Department of 
                Justice;
            (4) has lifted the order of contempt issued by the 
        Venezuelan Supreme Tribunal of Justice (TSJ) on January 11, 
        2016, against the National Assembly convened on January 6, 
        2016, including by restoring all powers of the National 
        Assembly and the immunities for deputies;
            (5) has ceased to interfere with the functioning of all 
        political parties and candidates, including by lifting all 
        judicial interventions of political parties and restrictions on 
        all presidential candidates;
            (6) has released all political prisoners and allowed for 
        investigations of Venezuelan prisons by appropriate 
        international human rights organizations;
            (7) has dissolved the Colectivos and any state security and 
        intelligence service credibly accused of committing gross 
        violations of human rights;
            (8) is taking genuine efforts to extradite or otherwise 
        render to the United States all persons sought by the United 
        States Department of Justice for crimes committed in the United 
        States;
            (9) is not providing any support to any group, in any other 
        country, that seeks the violent overthrow of the government of 
        that country;
            (10) has permitted the deployment throughout Venezuela of 
        independent and unfettered international human rights monitors; 
        and
            (11) has freed all hostages and illegally and wrongfully 
        detained United States nationals.

           TITLE II--PROMOTING DEMOCRATIC CHANGE IN VENEZUELA

SEC. 201. UNITED STATES POLICY REGARDING PARTICIPATION OF VENEZUELA IN 
              INTERNATIONAL FINANCIAL INSTITUTIONS.

    (a) In General.--The Secretary of the Treasury shall instruct the 
United States executive director of each international financial 
institution to use the voice and vote of the United States to oppose 
the seating of representatives of the regime of Nicolas Maduro or any 
nondemocratic successor government as a member of that institution.
    (b) Steps After Democratically Elected Government in Power.--On and 
after the date on which the President submits to the appropriate 
congressional committees a determination under section 101(a) that a 
democratically elected government is in power in Venezuela--
            (1) the President is encouraged to take steps to support 
        the seating of representatives of the democratically elected 
        government to represent Venezuela in each international 
        financial institution; and
            (2) the Secretary of the Treasury shall instruct the United 
        States executive director of each international financial 
        institution to oppose any assistance from the institution to 
        Venezuela that the United States Government does not assess 
        contributes to a stable foundation for a democratically elected 
        government in Venezuela.
    (c) International Financial Institution Defined.--In this section, 
the term ``international financial institution'' means each of the 
following:
            (1) The International Monetary Fund.
            (2) The International Bank for Reconstruction and 
        Development.
            (3) The International Development Association.
            (4) The International Finance Corporation.
            (5) The Multilateral Investment Guarantee Agency.
            (6) The Inter-American Development Bank.

SEC. 202. UNITED STATES POLICY REGARDING PARTICIPATION OF VENEZUELA IN 
              THE ORGANIZATION OF AMERICAN STATES.

    The President shall instruct the United States Permanent 
Representative to the Organization of American States to use the voice 
and vote of the United States to oppose any measure that would allow a 
nondemocratic government of Venezuela to participate in the 
Organization of American States until the President submits to the 
appropriate congressional committees a determination under section 
101(a) that a democratically elected government is in power in 
Venezuela.

SEC. 203. AUTHORIZATION OF SUPPORT FOR DEMOCRATIC AND HUMAN RIGHTS 
              GROUPS AND INTERNATIONAL OBSERVERS.

    (a) In General.--Notwithstanding any other provision of law (other 
than section 634A of the Foreign Assistance Act of 1961 (22 U.S.C. 
2394-1) or any comparable notification requirement contained in any Act 
making appropriations for the Department of State, foreign operations, 
and related programs), the President may provide assistance and other 
support for individuals and independent nongovernmental organizations 
to support democracy-building efforts in Venezuela, including as 
described in subsections (b) and (c).
    (b) Organization of American States Emergency Fund.--
            (1) For support of internationally recognized human rights 
        and free and fair elections.--The President shall take the 
        necessary steps to encourage the Organization of American 
        States to create a special emergency fund for the explicit 
        purpose of deploying human rights observers and individuals and 
        organizations engaged in election support and election 
        observation in Venezuela.
            (2) Voluntary contributions for fund.--The President should 
        provide not less than $5,000,000 of the voluntary contributions 
        of the United States to the Organization of American States 
        solely for the purposes of the special fund referred to in 
        paragraph (1).
    (c) Action of Other Member States.--The President should instruct 
the United States Permanent Representative to the Organization of 
American States to encourage other member states of the Organization to 
join in calling for the Government of Venezuela to allow the immediate 
deployment of independent human rights monitors of the Organization of 
American States throughout Venezuela and on-site visits to Venezuela by 
the Inter-American Commission on Human Rights.
    (d) Denial of Funds to Government of Venezuela.--In implementing 
this section, the President shall take all necessary steps to ensure 
that no funds or other assistance is provided to a nondemocratic 
government of Venezuela.

SEC. 204. SUPPORT FOR THE PEOPLE OF VENEZUELA.

    The President--
            (1) may, pursuant to General License 29 of the Office of 
        Foreign Assets Control of the Department of the Treasury, 
        provide assistance through independent nongovernmental 
        organizations to support humanitarian projects in Venezuela--
                    (A) to meet basic human needs;
                    (B) to build democracy;
                    (C) to provide education;
                    (D) for non-commercial development projects; and
                    (E) for environmental protection; and
            (2) shall establish safeguards to ensure that any 
        assistance provided pursuant to paragraph (1) is--
                    (A) not providing material benefit to the Maduro 
                regime; and
                    (B) used for the purposes for which it was intended 
                and only for the use and benefit of the people of 
                Venezuela.

                          TITLE III--SANCTIONS

SEC. 301. DEFINITIONS.

    In this title:
            (1) Entity.--The term ``entity'' means a partnership, 
        association, trust, joint venture, corporation, group, 
        subgroup, or organization.
            (2) Government of venezuela.--The term ``Government of 
        Venezuela'' includes--
                    (A) the state and Government of Venezuela;
                    (B) any political subdivision, agency, or 
                instrumentality thereof, including the Central Bank of 
                Venezuela and Petroleos de Venezuela, S.A.;
                    (C) any person owned or controlled, directly or 
                indirectly, by an entity described in subparagraph (A) 
                or (B); and
                    (D) any person that has acted or purported to act 
                directly or indirectly for or on behalf of an entity 
                described in subparagraph (A) or (B), including as a 
                member of the regime of Nicolas Maduro or any 
                nondemocratic successor government in Venezuela.
            (3) Person.--The term ``person'' means an individual or 
        entity.
            (4) United states person.--The term ``United States 
        person'' means--
                    (A) a United States citizen or alien lawfully 
                admitted for permanent residence to the United States;
                    (B) any entity organized under the laws of the 
                United States or any jurisdiction within the United 
                States (including a foreign branch of any such entity); 
                and
                    (C) any person physically located in the United 
                States.

SEC. 302. BLOCKING INTERNATIONAL SUPPORT FOR A NONDEMOCRATIC GOVERNMENT 
              IN VENEZUELA.

    (a) Statement of Policy Regarding Venezuelan Trading Partners.--The 
President should encourage the governments of countries that conduct 
trade with Venezuela to restrict their trade and credit relations with 
Venezuela in a manner consistent with the purposes of this Act.
    (b) Sanctions Against Countries Assisting a Nondemocratic 
Government in Venezuela.--
            (1) In general.--The President may impose the following 
        sanctions with respect to any country that provides assistance 
        to the regime of Nicolas Maduro or any nondemocratic successor 
        government in Venezuela:
                    (A) The President may determine that the government 
                of such country is not eligible for nonhumanitarian 
                assistance under the Foreign Assistance Act of 1961 (22 
                U.S.C. 2151 et seq.) or assistance or sales under the 
                Arms Export Control Act (22 U.S.C. 2751 et seq.).
                    (B) The President may determine that the country is 
                not eligible, under any program, for forgiveness or 
                reduction of debt owed to the United States Government.
            (2) Termination.--The authority to impose sanctions under 
        this section shall cease to apply at such time as the President 
        submits to the appropriate congressional committees a 
        determination under section 101(a) that a democratically 
        elected government is in power in Venezuela.
    (c) Definitions.--In this section:
            (1) Assistance to venezuela.--The term ``assistance to 
        Venezuela''--
                    (A) means assistance to or for the benefit of the 
                Government of Venezuela that is provided by grant, 
                concessional sale, guaranty, or insurance, or by any 
                other means on terms more favorable than that generally 
                available in the applicable market, whether in the form 
                of a loan, lease, credit, or otherwise;
                    (B) includes--
                            (i) subsidies for exports to Venezuela;
                            (ii) favorable tariff treatment of articles 
                        that are the growth, product, or manufacture of 
                        Venezuela; and
                            (iii) an exchange, reduction, or 
                        forgiveness of debt owed by the Government of 
                        Venezuela to a foreign country in return for a 
                        grant of an equity interest in a property, 
                        investment, or operation of the Government of 
                        Venezuela (including any agency or 
                        instrumentality of the Government of Venezuela) 
                        or a national of Venezuela; and
                    (C) does not include--
                            (i) humanitarian assistance, including 
                        donations of food, made available to 
                        nongovernmental organizations or individuals in 
                        Venezuela; or
                            (ii) exports of medicines or medical 
                        supplies, instruments, or equipment.
            (2) Agency or instrumentality of the government of 
        venezuela.--The term ``agency or instrumentality of the 
        Government of Venezuela'' has the meaning given the term 
        ``agency or instrumentality of a foreign state'' in section 
        1603(b) of title 28, United States Code, except that each 
        reference in such section to ``a foreign state'' shall be 
        deemed to be a reference to ``the Government of Venezuela''.

SEC. 303. FINANCIAL SANCTIONS WITH RESPECT TO DEBT INSTRUMENTS OF 
              MADURO REGIME.

    (a) Prohibition of Certain Transactions.--
            (1) In general.--Beginning on the date of the enactment of 
        this Act, all transactions by a United States person or within 
        the United States that relate to, provide financing for, or 
        otherwise deal in debt instruments issued by, for, or on behalf 
        of Petroleos de Venezuela, S.A., or the regime of Nicolas 
        Maduro or any nondemocratic successor government in Venezuela, 
        are prohibited.
            (2) Inclusions.--The prohibition under paragraph (1) 
        includes a prohibition on--
                    (A) entering into any transaction in--
                            (i) debt instruments with a maturity of 
                        more than 90 days issued by Petroleos de 
                        Venezuela, S.A., on or after the date of the 
                        enactment of this Act;
                            (ii) debt instruments with a maturity of 
                        more than 30 days or equity issued by the 
                        Maduro regime on or after such date of 
                        enactment, other than debt instruments issued 
                        by Petroleos de Venezuela, S.A., covered by 
                        clause (i);
                            (iii) bonds issued by the Maduro regime 
                        before such date of enactment; or
                            (iv) dividend payments or other 
                        distributions of profits to the Maduro regime 
                        from any entity owned or controlled, directly 
                        or indirectly, by the Maduro regime;
                    (B) the direct or indirect purchase of securities 
                from the Maduro regime, other than--
                            (i) securities qualifying as debt 
                        instruments issued by Petroleos de Venezuela, 
                        S.A., covered by subparagraph (A)(i); and
                            (ii) securities qualifying as debt 
                        instruments issued by the Maduro regime covered 
                        by subparagraph (A)(ii);
                    (C) purchasing any debt owed to the Maduro regime, 
                including accounts receivable;
                    (D) entering into any transaction related to any 
                debt owed to the Maduro regime that is pledged as 
                collateral after May 21, 2018, including accounts 
                receivable;
                    (E) entering into any transaction involving the 
                selling, transferring, assigning, or pledging as 
                collateral by the Maduro regime of any equity interest 
                in any entity in which the Maduro regime has a 50 
                percent or greater ownership interest; and
                    (F) entering into any transaction that evades or 
                avoids, has the purpose of evading or avoiding, causes 
                a violation of, or attempts to violate any of the 
                prohibitions set forth in this subsection.
    (b) Rulemaking.--
            (1) In general.--The Secretary of the Treasury, in 
        consultation with the Secretary of State, may take such 
        actions, including prescribing rules and regulations, as are 
        necessary to implement this section.
            (2) Delegation.--The Secretary of the Treasury may 
        redelegate the authority described in paragraph (1) to other 
        officers and agencies of the United States Government.
    (c) Responsibility of Other Agencies.--All agencies of the United 
States Government shall take all appropriate measures within their 
authority to carry out the provisions of this section.

SEC. 304. SANCTIONS WITH RESPECT TO CRYPTOCURRENCY AND RELATED 
              TECHNOLOGIES IN VENEZUELA.

    (a) Prohibition of Certain Transactions.--
            (1) In general.--Beginning on the date of the enactment of 
        this Act, the following transactions are prohibited:
                    (A) Any transaction by a United States person or 
                within the United States that relates to, provides 
                financing for, or otherwise deals in any digital 
                currency, digital coin, or digital token, that was 
                issued by, for, or on behalf of the regime of Nicolas 
                Maduro or any nondemocratic successor government.
                    (B) Any transaction that evades or avoids, has the 
                purpose of evading or avoiding, causes a violation of, 
                or attempts to violate the prohibition under 
                subparagraph (A).
            (2) Applicability.--The prohibitions under paragraph (1) 
        shall apply--
                    (A) to the extent provided by statutes, or in 
                regulations, orders, directives, or licenses that may 
                be issued pursuant to this section; and
                    (B) notwithstanding any contract entered into or 
                any license or permit granted before the date of the 
                enactment of this Act.
    (b) Rulemaking.--
            (1) In general.--The Secretary of the Treasury, in 
        consultation with the Secretary of State, may take such 
        actions, including prescribing rules and regulations, as are 
        necessary to implement this section.
            (2) Delegation.--The Secretary of the Treasury may 
        redelegate the authority described in paragraph (1) to other 
        officers and agencies of the United States Government.
    (c) Responsibility of Other Agencies.--All agencies of the United 
States Government shall take all appropriate measures within their 
authority to carry out the provisions of this section.

SEC. 305. BLOCKING PROPERTY OF THE GOVERNMENT OF VENEZUELA.

    (a) Blocking of Property.--The President shall exercise all powers 
granted to the President by the International Emergency Economic Powers 
Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and 
prohibit all transactions in all property and interests in property of 
the Government of Venezuela and any person described in subsection (b) 
if such property and interests in property are in the United States, 
come within the United States, or are or come within the possession or 
control of a United States person.
    (b) Persons Described.--A person described in this subsection is 
any person determined by the Secretary of the Treasury, in consultation 
with the Secretary of State--
            (1) to have materially assisted, sponsored, or provided 
        financial, material, or technological support for, or goods or 
        services to or in support of, any person the property and 
        interests in property of which are blocked pursuant to 
        subsection (a); or
            (2) to be owned or controlled by, or to have acted or 
        purported to act for or on behalf of, directly or indirectly, 
        any person the property and interests in property of which are 
        blocked pursuant to subsection (a).
    (c) Prohibitions on Evasion.--Any transaction that evades or 
avoids, has the purpose of evading or avoiding, causes a violation of, 
or attempts to violate, the prohibition under subsection (a) is 
prohibited.
    (d) Applicability.--Subsection (a) and the prohibition under 
subsection (c) shall apply--
            (1) to the extent provided by statutes, or in regulations, 
        orders, directives, or licenses that may be issued pursuant to 
        this section; and
            (2) notwithstanding any contract entered into or any 
        license or permit granted before the date of the enactment of 
        this Act.
    (e) Rulemaking.--
            (1) In general.--The Secretary of the Treasury, in 
        consultation with the Secretary of State, may take such 
        actions, including prescribing rules and regulations, as are 
        necessary to implement this section.
            (2) Delegation.--The Secretary of the Treasury may 
        redelegate the authority described in paragraph (1) to other 
        officers and agencies of the United States Government.
    (f) Responsibility of Other Agencies.--All agencies of the United 
States Government shall take all appropriate measures within their 
authority to carry out the provisions of this section.

SEC. 306. TERMINATION OF SANCTIONS.

    (a) In General.--Upon submitting to the appropriate congressional 
committees a determination under section 101(a) that a democratically 
elected government is in power in Venezuela, the President shall take 
steps to terminate the sanctions imposed under this title.
    (b) Review of Termination of Sanctions.--
            (1) Reporting requirements.--Upon taking action under 
        subsection (a) to terminate the sanctions imposed under this 
        title, the President shall--
                    (A) immediately notify Congress of that action; and
                    (B) submit to Congress, not less frequently than 
                every 180 days thereafter for 3 years, a report on the 
                progress being made by Venezuela toward the 
                establishment of a democratically elected government.
            (2) Congressional review.--
                    (A) Joint resolution of disapproval defined.--In 
                this paragraph, the term ``joint resolution of 
                disapproval'' means a joint resolution, the sole matter 
                after the resolving clause of which is as follows: 
                ``That Congress disapproves the action of the President 
                under section 306(a) of the Venezuela Advancing 
                Liberty, Opportunity, and Rights Act of 2024 to 
                terminate the sanctions imposed under title III of that 
                Act, notice of which was submitted to the Congress on 
                ____.'', with the blank space being filled with the 
                date on which the President notified Congress with 
                respect to the action under paragraph (1)(A).
                    (B) Effect of enactment.--An action taken by the 
                President under subsection (a) shall cease to be 
                effective upon the enactment of a joint resolution of 
                disapproval with respect to that action.
                    (C) Referral to committees.--
                            (i) Senate.--A joint resolution of 
                        disapproval introduced in the Senate shall be 
                        referred to the Committee on Foreign Relations.
                            (ii) House of representatives.--A joint 
                        resolution of disapproval introduced in the 
                        House of Representatives shall be referred to 
                        the Committee on Foreign Affairs.
                    (D) Procedures.--
                            (i) Senate.--A joint resolution of 
                        disapproval shall be considered in the Senate 
                        in accordance with the provisions of section 
                        601(b) of the International Security Assistance 
                        and Arms Export Control Act of 1976 (Public Law 
                        94-329; 90 Stat. 765).
                            (ii) House of representatives.--For the 
                        purpose of expediting the consideration and 
                        enactment of a joint resolution of disapproval, 
                        a motion to proceed to the consideration of 
                        such a resolution after it has been reported by 
                        the appropriate committee under subparagraph 
                        (C) shall be treated as highly privileged in 
                        the House of Representatives.
                            (iii) Limitation.--Not more than one joint 
                        resolution of disapproval may be considered in 
                        the Senate and the House of Representatives 
                        in--
                                    (I) the 180-day period beginning on 
                                the date on which the President 
                                notifies Congress under paragraph 
                                (1)(A) with respect to action taken 
                                under subsection (a); and
                                    (II) each 180-day period 
                                thereafter.
                    (E) Rules of house of representatives and senate.--
                This paragraph is enacted by Congress--
                            (i) as an exercise of the rulemaking power 
                        of the Senate and the House of Representatives, 
                        respectively, and as such is deemed a part of 
                        the rules of each House, respectively, and 
                        supersedes other rules only to the extent that 
                        it is inconsistent with such rules; and
                            (ii) with full recognition of the 
                        constitutional right of either House to change 
                        the rules (so far as relating to the procedure 
                        of that House) at any time, in the same manner, 
                        and to the same extent as in the case of any 
                        other rule of that House.

SEC. 307. IMPLEMENTATION; PENALTIES.

    (a) Implementation; Penalties.--
            (1) Implementation.--The President may exercise all 
        authorities provided to the President under sections 203 and 
        205 of the International Emergency Economic Powers Act (50 
        U.S.C. 1702 and 1704) to carry out this title.
            (2) Penalties.--A person that violates, attempts to 
        violate, conspires to violate, or causes a violation of this 
        title or any regulation, license, or order issued to carry out 
        this title shall be subject to the penalties set forth in 
        subsections (b) and (c) of section 206 of the International 
        Emergency Economic Powers Act (50 U.S.C. 1705) to the same 
        extent as a person that commits an unlawful act described in 
        subsection (a) of that section.
            (3) Waiver.--The President may waive the application of 
        sanctions under this title with respect to a foreign person if 
        the President, not later than 10 days before the waiver is to 
        take effect, determines and certifies to the appropriate 
        congressional committees that such a waiver is in the vital 
        national security interest of the United States. The President 
        shall submit with the certification a detailed justification 
        explaining the reasons for the waiver.

SEC. 308. REPORT ON SPECIFIC LICENSES THAT AUTHORIZE TRANSACTIONS WITH 
              SANCTIONED PERSONS.

    (a) Report Required.--
            (1) In general.--Not later than 180 days after the date of 
        the enactment of this Act, and every 180 days thereafter until 
        the date that is 10 years after the date of the enactment of 
        this Act, the Secretary of the Treasury, in coordination with 
        the Secretary of State, shall submit to the appropriate 
        congressional committees a report that includes--
                    (A) a list of specific licenses issued by the 
                Secretary of the Treasury during the 180-day period 
                preceding submission of the report that authorize any 
                transaction with a person with respect to which 
                sanctions have been imposed under section 303, 304, or 
                305; and
                    (B)(i) in the case of the first report, an estimate 
                of funds the Maduro regime has accessed as a result of 
                licenses issued by the Office of Foreign Assets Control 
                since January 20, 2021; and
                    (ii) in the case of any subsequent report, an 
                estimate of the funds the Maduro regime has accessed as 
                a result of such licenses issued during the 180-day 
                period preceding submission of the report.
            (2) Elements.--The report required by paragraph (1) shall 
        include, with respect to each entity that received a specific 
        license described in that paragraph, the following information:
                    (A) The name of the entity.
                    (B) A brief description of the activity authorized 
                by the license.
                    (C) A brief justification of why the Office of 
                Foreign Assets Control granted the license.
    (b) Submission of Copies of Licenses on Request.--The Secretary of 
the Treasury shall expeditiously provide to the appropriate 
congressional committees a copy of any license identified in a report 
submitted under subsection (a) if an appropriate Member of Congress 
requests a copy of that license not later than 60 days after the report 
is submitted.
    (c) Business Confidential Information.--
            (1) In general.--The Secretary of the Treasury shall, in 
        each report required by subsection (a) and any submission under 
        subsection (b), identify any proprietary information submitted 
        by any private sector representative and mark such information 
        as ``business confidential information''.
            (2) Treatment as trade secrets.--Business confidential 
        information described in paragraph (1) shall be considered to 
        be a matter falling within the meaning of the exception for 
        trade secrets and commercial or financial information under 
        subsection (b)(4) of section 552 of title 5, United States 
        Code, and shall be exempt from disclosure under such section 
        without the express approval of the private party.
            (3) Form of report and submissions.--Each report required 
        by subsection (a) and any submission under subsection (b) shall 
        be submitted in unclassified form, but may contain a classified 
        annex.
    (d) Sunset.--The section shall have no force or effect after the 
end of the 10-year period beginning on the date of the enactment of 
this Act.

SEC. 309. REPORT ON FOREIGN PERSONS DOING BUSINESS WITH THE MADURO 
              REGIME.

    Not later than 180 days after the date of the enactment of this 
Act, the Secretary of State, in consultation with the heads of other 
relevant Federal agencies, shall submit to the appropriate 
congressional committees a report that identifies any foreign person 
that--
            (1) engages in or has engaged in a significant transaction 
        or transactions, or any other dealings with, or has provided 
        material support to or for--
                    (A) the Government of Venezuela;
                    (B) any person the President determines to be 
                knowingly responsible for or complicit in, or 
                responsible for ordering, controlling, or otherwise 
                directing, or to have participated in, directly or 
                indirectly--
                            (i) actions or policies that significantly 
                        undermine democratic processes or institutions 
                        in Venezuela;
                            (ii) significant acts of violence or 
                        conduct that constitute serious human rights 
                        abuse, including against persons involved in 
                        antigovernment protests in Venezuela on or 
                        after February 1, 2014;
                            (iii) actions that prohibit, limit, or 
                        penalize the exercise of freedom of expression 
                        or peaceful assembly in Venezuela; or
                            (iv) significant public corruption by 
                        senior officials within the Government of 
                        Venezuela; or
                    (C) any entity that has, or whose members have, 
                engaged in any activity described in subparagraph (B);
            (2) operates in the mining, financial, energy, shipping, or 
        shipbuilding sector of the economy of Venezuela;
            (3) operates in the ports, free trade zones, or special 
        economic zones of Venezuela;
            (4) is owned or controlled by a foreign person described in 
        paragraph (1), (2), or (3); or
            (5) has knowingly materially assisted, sponsored, or 
        provided significant financial, material, or technological 
        support for, or goods or services in support of, a foreign 
        person described in paragraph (1), (2), or (3).

        TITLE IV--ASSISTANCE TO A FREE AND INDEPENDENT VENEZUELA

SEC. 401. ASSISTANCE FOR THE PEOPLE OF VENEZUELA.

    (a) Plan for Providing Assistance.--
            (1) Development of plan.--
                    (A) In general.--The President shall develop a plan 
                for providing assistance to Venezuela under a 
                democratically elected government.
                    (B) Strategy for distribution.--The plan developed 
                under subparagraph (A) shall include a strategy for 
                distributing assistance under the plan.
            (2) Types of assistance.--Assistance to Venezuela under a 
        democratically elected government provided pursuant to the plan 
        developed under paragraph (1) may include--
                    (A) such food, medicine, medical supplies and 
                equipment, and assistance to meet emergency energy 
                needs, as is necessary to meet the basic human needs of 
                the people of Venezuela;
                    (B) assistance under--
                            (i) chapter 1 of part I of the Foreign 
                        Assistance Act of 1961 (22 U.S.C. 2151 et seq.) 
                        (relating to development assistance); and
                            (ii) chapter 4 of part II of that Act (22 
                        U.S.C. 2346 et seq.) (relating to the economic 
                        support fund);
                    (C) assistance under the Food for Peace Act (7 
                U.S.C. 1691 et seq.);
                    (D) financing, guarantees, and other forms of 
                assistance provided by the Export-Import Bank of the 
                United States;
                    (E) assistance provided by the Trade and 
                Development Agency; and
                    (F) Peace Corps programs.
            (3) Distribution.--Assistance under the plan developed 
        under paragraph (1) shall be provided through relevant United 
        States Federal departments and agencies and nongovernmental 
        organizations and private and voluntary organizations, whether 
        within or outside the United States, including humanitarian, 
        educational, labor, and private sector organizations.
            (4) Communication with people of venezuela.--The President 
        shall take the necessary steps to communicate to the people of 
        Venezuela the plan for assistance developed under paragraph 
        (1).
            (5) Report to congress.--Not later than 90 days after the 
        date of the enactment of this Act, the President shall submit 
        to the appropriate congressional committees a report describing 
        in detail the plan developed under paragraph (1).
    (b) Implementation of Plan; Reports to Congress.--
            (1) Implementation of plan.--Upon submitting to the 
        appropriate congressional committees a determination under 
        section 101(a) that a democratically elected government is in 
        power in Venezuela, the President shall commence the delivery 
        and distribution of assistance to the democratically elected 
        government under the plan developed under subsection (a).
            (2) Annual reports to congress.--Not later than 60 days 
        after the end of each fiscal year, the President shall submit 
        to the appropriate congressional committees a report on the 
        assistance provided under the plan developed under subsection 
        (a), including--
                    (A) a description of each type of assistance and 
                the amounts expended for such assistance during the 
                preceding fiscal year; and
                    (B) a description of the assistance to be provided 
                under the plan in the fiscal year in which the report 
                is submitted.
    (c) Coordinating Official.--The Secretary of State shall designate 
a coordinating official of the Department of State who shall be 
responsible for--
            (1) implementing the strategy for distributing assistance 
        described in subsection (a)(1)(B);
            (2) ensuring the speedy and efficient distribution of such 
        assistance; and
            (3) ensuring coordination among, and appropriate oversight 
        by, the agencies of the United States that provide assistance 
        described in subsection (a)(2), including resolving any 
        disputes among such agencies.
    (d) Reprogramming.--Any changes in the assistance to be provided 
under the plan developed under subsection (a) may not be made unless 
the Secretary of State notifies the appropriate congressional 
committees at least 15 days in advance in accordance with the 
procedures applicable to reprogramming notifications under section 634A 
of the Foreign Assistance Act of 1961 (22 U.S.C. 2394-1).
    (e) Funding Limitation.--Assistance may be provided under this 
section only if amounts are authorized to be appropriated, and are 
appropriated, to provide such assistance.
    (f) International Efforts.--The President shall take the necessary 
steps--
            (1) to seek to obtain the agreement of other countries and 
        of international financial institutions and multilateral 
        organizations to provide to a democratically elected government 
        in Venezuela assistance comparable to that provided by the 
        United States under this section; and
            (2) to work with such countries, institutions, and 
        organizations to coordinate all such assistance programs.

SEC. 402. REPORT ON TRADE AND INVESTMENT RELATIONS BETWEEN THE UNITED 
              STATES AND VENEZUELA.

    (a) Report to Congress.--Upon submitting to the appropriate 
congressional committees a determination under section 101(a) that a 
democratically elected government is in power in Venezuela, the 
President shall submit to the Committee on Ways and Means of the House 
of Representatives, the Committee on Finance of the Senate, and the 
appropriate congressional committees a report that describes--
            (1) acts, policies, and practices that constitute 
        significant barriers to, or distortions of, United States trade 
        in goods or services or foreign direct investment with respect 
        to Venezuela; and
            (2) policy objectives of the United States regarding trade 
        relations with a democratically elected government in 
        Venezuela, and the reasons for such objectives, including 
        possible reciprocal extension of nondiscriminatory trade 
        treatment (most-favored-nation treatment).
    (b) Consultation.--With respect to the policy objectives described 
in subsection (a), the President shall--
            (1) consult with the Committee on Ways and Means of the 
        House of Representatives, the Committee on Finance of the 
        Senate, and the appropriate congressional committees; and
            (2) seek advice from the appropriate advisory committees 
        established under section 135 of the Trade Act of 1974 (19 
        U.S.C. 2155).

                      TITLE V--GENERAL PROVISIONS

SEC. 501. EFFECT ON LAWFUL UNITED STATES GOVERNMENT ACTIVITIES.

    Nothing in this Act prohibits any lawfully authorized 
investigative, protective, or intelligence activity of a law 
enforcement agency, or of an intelligence agency, of the United States.

SEC. 502. EXCEPTION RELATING TO IMPORTATION OF GOODS.

    (a) In General.--Notwithstanding any other provision of this Act, 
the authorities and requirements to impose sanctions under this Act 
shall not include the authority or a requirement to impose sanctions on 
the importation of goods.
    (b) Good Defined.--In this section, the term ``good'' means any 
article, natural or manmade substance, material, supply or manufactured 
product, including inspection and test equipment, and excluding 
technical data.
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