S. 3685 — Introduced in Senate

II 119th CONGRESS 2d Session S. 3685 IN THE SENATE OF THE UNITED STATES January 15, 2026Mr. 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. 1. Short title This Act may be cited as the No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act. 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.