,i #aafth ,,congress #ast ,session ,h4 ,r4 #chi ,,in ,,the ,,house ,,of ,,representatives ,january #i1 #bjai,mr4 ,lynch 7for himself1 ,mr4 ,cohen1 and ,mr4 ,budd7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to authorize the ,secretary of the ,treasury to pay rewards under an asset recovery rewards program to help identify and recover stolen assets linked to foreign government corruption and the proceeds of such corruption hidden behind complex financial structures in the ,united ,states and abroad4 #a4 ,short title 7a7 ,the ,act may be cited as the ,kleptocracy ,asset ,recovery ,rewards ,act4 #b4 ,findings2 sense of ,congress 7a7 ,findings ,congress finds the following3 7#a7 ,the ,stolen ,asset ,recovery ,initiative 7,st,a,r71 a ,world ,bank and ,united ,nations anti-money-laundering effort1 estimates that between #bj billion to #dj billion has been lost to developing countries annually through corruption4 7#b7 ,in #bjad1 more than #dhj million in corruption proceeds hidden in bank accounts around the world by former ,nigerian dictator ,sani ,abacha and his co-conspirators was forfeited through efforts by the ,department of ,justice4 7#c7 ,in #bjaj1 the ,department of ,justice established the ,kleptocracy ,asset ,recovery ,initiative1 to work in partnership with ,federal law enforcement agencies to forfeit the proceeds of foreign official corruption and1 where appropriate1 return those proceeds to benefit the people harmed by these acts of corruption and abuse of office4 7#d7 ,of the #bj billion to #dj billion lost by developing countries annually through corruption1 only about #e billion has been repatriated in the last #ae years4 7#e7 ,governments weakened by corruption and loss of assets due to corruption have fewer resources to devote to the fight against terrorism and fewer resources to devote to building strong financial1 law enforcement1 and judicial institutions to aid in the fight against the financing of terrorism4 7#f7 ,the ,united ,states has a number of effective programs to reward individuals who provide valuable information that assist in the identification1 arrest1 and conviction of criminal actors and their associates1 as well as seizure and forfeiture of illicitly derived assets and the proceeds of criminal activity4 7#g7 ,the ,internal ,revenue ,service has the ,whistleblower ,program1 which pays awards to individuals who provide specific and credible information to the ,,irs if the information results in the collection of taxes1 penalties1 interest or other amounts from noncompliant taxpayers4 7#h7 ,the ,department of ,state administers rewards programs on international terrorism1 illegal narcotics1 and transnational organized crime with the goal of bringing perpetrators to justice4 7#i7 ,none of these existing rewards programs specifically provide monetary incentives for identifying and recovering stolen assets linked solely to foreign government corruption1 as opposed to criminal prosecutions or civil or criminal forfeitures4 7#aj7 ,the recovery of stolen assets linked to foreign government corruption and the proceeds of such corruption may not always involve a ,,bsa violation or lead to a forfeiture action4 ,in such cases there would be no ability to pay rewards under existing ,treasury ,department authorities4 7#aa7 ,foreign government corruption can take many forms but typically entails government officials stealing1 misappropriating1 or illegally diverting assets and funds from their own government treasuries to enrich their personal wealth directly through embezzlement or bribes to allow government resources to be expended in ways that are not transparent and may not either be necessary or be the result of open competition4 ,corruption also includes situations where public officials take bribes to allow government resources to be expended in ways which are not transparent and may not be necessary or the result of open competition4 ,these corrupt officials often use the ,united ,states and international financial system to hide their stolen assets and the proceeds of corruption4 7#ab7 ,the individuals who come forward to expose foreign governmental corruption and kleptocracy often do so at great risk to their own safety and that of their immediate family members and face retaliation from persons who exercise foreign political or governmental power4 ,monetary rewards and the potential award of asylum can provide a necessary incentive to expose such corruption and provide a financial means to provide for their well-being and avoid retribution4 7b7 ,sense of ,congress ,it is the sense of ,congress that a ,department of the ,treasury stolen asset recovery rewards program to help identify and recover stolen assets linked to foreign government corruption and the proceeds of such corruption hidden behind complex financial structures is needed in order to-- 7#a7 intensify the global fight against corruption2 and 7#b7 serve ,united ,states efforts to identify and recover such stolen assets1 forfeit proceeds of such corruption1 and1 where appropriate and feasible1 return the stolen assets or proceeds thereof to the country harmed by the acts of corruption4 #c4 ,in general 7a7 ,department of the ,treasury ,kleptocracy ,asset ,recovery ,rewards ,program ,chapter #ig of title #ca1 ,united ,states ,code1 is amended by adding at the end the following3 #igjf4 ,department of the ,treasury ,kleptocracy ,asset ,recovery ,rewards ,program 7a7 ,establishment 7#a7 ,in general ,there is established in the ,department of the ,treasury a program to be known as the ,kleptocracy ,asset ,recovery ,rewards ,program for the payment of rewards to carry out the purposes of this section4 7#b7 ,purpose ,the rewards program shall be designed to support ,u4,s4 ,government programs and investigations aimed at restraining1 seizing1 forfeiting1 or repatriating stolen assets linked to foreign government corruption and the proceeds of such corruption4 7#c7 ,implementation ,the rewards program shall be administered by1 and at the sole discretion of1 the ,secretary of the ,treasury1 in consultation1 as appropriate1 with the ,secretary of ,state1 the ,attorney ,general1 and the heads of such other departments and agencies as the ,secretary may find appropriate4 7b7 ,rewards authorized ,in the sole discretion of the ,secretary and in consultation1 as appropriate1 with the heads of other relevant ,federal departments or agencies1 the ,secretary may pay a reward to any individual1 or to any nonprofit organization designated by such individual1 if that individual furnishes information leading to-- 7#a7 the restraining or seizure of stolen assets in an account at a ,u4,s4 financial institution 7including a ,u4,s4 branch of a foreign financial institution71 that come within the ,united ,states1 or that come within the possession or control of any ,united ,states person2 7#b7 the forfeiture of stolen assets in an account at a ,u4,s4 financial institution 7including a ,u4,s4 branch of a foreign financial institution71 that come within the ,united ,states1 or that come within the possession or control of any ,united ,states person2 or 7#c7 where appropriate1 the repatriation of stolen assets in an account at a ,u4,s4 financial institution 7including a ,u4,s4 branch of a foreign financial institution71 that come within the ,united ,states1 or that come within the possession or control of any ,united ,states person4 7c7 ,coordination 7#a7 ,procedures ,to ensure that the payment of rewards pursuant to this section does not duplicate or interfere with any other payment authorized by the ,department of ,justice or other ,federal law enforcement agencies for the obtaining of information or other evidence1 the ,secretary of the ,treasury1 in consultation with the ,secretary of ,state1 the ,attorney ,general1 and the heads of such other agencies as the ,secretary may find appropriate1 shall establish procedures for the offering1 administration1 and payment of rewards under this section1 including procedures for-- 7,a7 identifying actions with respect to which rewards will be offered2 7,b7 the receipt and analysis of data2 and 7,c7 the payment of rewards and approval of such payments4 7#b7 ,prior approval of the ,attorney ,general required ,before making a reward under this section in a matter over which there is ,federal criminal jurisdiction1 the ,secretary of the ,treasury shall obtain the written concurrence of the ,attorney ,general4 7d7 ,payment of rewards 7#a7 ,authorization of appropriations ,for the purpose of paying rewards pursuant to this section1 there is authorized to be appropriated #dej1jjj for fiscal year #bjbj4 7#b7 ,limitation on annual payments ,except as provided under paragraph 7#c71 the total amount of rewards paid pursuant to this section may not exceed #be1jjj1jjj in any calendar year4 7#c7 ,presidential authority ,the ,president may waive the limitation under paragraph 7#b7 with respect to a calendar year if the ,president provides written notice of such waiver to the ,secretary and the appropriate committees of the ,congress at least #cj days before any payment in excess of such limitation is made pursuant to this section4 7#d7 ,payment from stolen asset amounts ,in paying any reward under this section with respect to information furnished by an individual1 the ,secretary shall1 to the extent possible1 make such payments using the stolen assets recovered based on such information before using appropriated funds authorized under paragraph 7#a74 7e7 ,limitations and certification 7#a7 ,submission of information ,no award may be made under this section based on information submitted to the ,secretary unless such information is submitted under penalty of perjury4 7#b7 ,maximum amount ,no reward paid under this section may exceed #e1jjj1jjj1 except as personally authorized in writing by the ,secretary1 if the ,secretary determines that offer or payment of a reward of a greater amount is necessary in exceptional cases4 7#c7 ,approval 7,a7 ,in general ,no reward amount may be paid under this section without the written approval and certification of the ,secretary4 7,b7 ,delegation ,the ,secretary may not delegate the certification required under subparagraph 7,a7 to anyone other than an ,under ,secretary of the ,department of the ,treasury4 7#d7 ,protection measures ,if the ,secretary determines that the identity of the recipient of a reward or of the members of the recipient's immediate family must be protected1 the ,secretary shall take such measures in connection with the payment of the reward as the ,secretary considers necessary to effect such protection4 7#e7 ,forms of reward payment ,the ,secretary may make a reward under this section in the form of a monetary payment4 7f7 ,ineligibility1 reduction in1 or denial of reward 7#a7 ,officer and employees ,an officer or employee of any entity of ,federal1 ,state1 or local government or of a foreign government who1 while in the performance of official duties1 furnishes information described under subsection 7b7 shall not be eligible for a reward under this section4 7#b7 ,participating individuals ,if the claim for a reward is brought by an individual who planned1 initiated1 directly participated in1 or facilitated the actions that led to assets of a foreign state or governmental entity being stolen1 misappropriated1 or illegally diverted or to the payment of bribes or other foreign governmental corruption1 the ,secretary may appropriately reduce such award4 ,if such individual is convicted of criminal conduct arising from the role described in the preceding sentence1 the ,secretary shall deny any reward4 7g7 ,determinations of ,secretary ,a determination made by the ,secretary under this section shall be final and conclusive and shall not be subject to judicial review4 7h7 ,report 7#a7 ,in general ,within #ahj days of the enactment of this section1 and annually thereafter1 the ,secretary shall issue a report to the appropriate committees of the ,congress-- 7,a7 detailing to the greatest extent possible the amount1 location1 and ownership or beneficial ownership of any stolen assets that1 on or after the date of the enactment of this section1 come within the ,united ,states or that come within the possession or control of any ,united ,states person1 including any foreign branch2 7,b7 discussing efforts being undertaken to identify more such stolen assets and their owners or beneficial owners2 and 7,c7 including a discussion of the interactions of the ,department of the ,treasury with the international financial institutions 7as defined in section #agja7;c77#b7 of the ,international ,financial ,institutions ,act7 to identify the amount1 location1 and ownership1 or beneficial ownership1 of stolen assets held in financial institutions outside the ,united ,states4 7#b7 ,exception for ongoing investigations ,the report issued under paragraph 7#a7 shall not include information related to ongoing investigations4 7i7 ,definitions ,for purposes of this section3 7#a7 ,appropriate committees of the ,congress ,the term appropriate committees of the ,congress means the ,committees on ,financial ,services1 ,foreign ,affairs1 and the ,judiciary of the ,house of ,representatives and the ,committees on ,banking1 ,housing1 and ,urban ,affairs1 ,foreign ,relations1 and the ,judiciary of the ,senate4 7#b7 ,financial asset ,the term #8financial asset' means any funds1 investments1 or ownership interests1 as defined by the ,secretary1 that on or after the date of the enactment of this section come within the ,united ,states or that come within the possession or control of any ,united ,states person1 including through a ,u4,s4 branch of a foreign financial institution4 7#c7 ,foreign government corruption ,the term foreign government corruption includes bribery of a foreign public official1 or the misappropriation1 theft1 or embezzlement of public funds or property by or for the benefit of a foreign public official4 7#d7 ,foreign public official ,the term foreign public official includes any person who occupies a public office by virtue of having been elected1 appointed1 or employed1 including any military1 civilian1 special1 honorary1 temporary1 or uncompensated official4 7#e7 ,immediate family member ,the term immediate family member1 with respect to an individual1 has the meaning given the term member of the immediate family under section #cf7k7 of the ,state ,department ,basic ,authorities ,act of #aief 7#bb ,u4,s4,c4 #bgjh7k774 7#f7 ,rewards program ,the term rewards program means the program established in subsection 7a77#a7 of this section4 7#g7 ,secretary ,the term ,secretary means the ,secretary of the ,treasury4 7#h7 ,stolen assets ,the term stolen assets means financial assets within the jurisdiction of the ,united ,states1 constituting1 derived from1 or traceable to1 any proceeds obtained directly or indirectly from foreign government corruption4 4 7b7 ,report on disposition of recovered assets ,within #ahj days of the enactment of this ,act1 the ,secretary of the ,treasury shall issue a report to the appropriate committees of ,congress 7as defined under section #igjf7;i7 of title #ca1 ,united ,states ,code7 describing policy choices for disposition of stolen assets recovered pursuant to section #igjf of title #ca1 ,united ,states ,code4 7c7 ,table of contents amendment ,the table of contents for chapter #ig of title #ca1 ,united ,states ,code1 is amended by adding at the end the following3 #igjf4 ,department of the ,treasury ,kleptocracy ,asset ,recovery ,rewards ,program4 4