Protecting Taxpayers from Risky Investments in Venezuela Act

This bill would bar federal funds, and any account controlled by the United States, from being used to finance, subsidize, insure, guarantee, contract for, or otherwise support oil infrastructure or the petroleum sector in Venezuela. The ban covers construction and repair of oil or gas facilities, real property purchases, insurance, loan guarantees, tax incentives, royalty relief, payments to individuals or companies, and advocacy by U.S. officials, including at international organizations. Spending that Congress explicitly authorizes by a later law would be exempt. The Secretary of State would have to report each year to certain congressional committees on related spending and certify compliance.

Full text and official record on Congress.gov

Sponsors

• Mike Levin Democrat sponsor
• 22 cosponsors