Introduced in Senate — S. 3685

119th CONGRESS

2d Session

S. 3685

IN THE SENATE OF THE UNITED STATES

January 15, 2026

Mr. 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.

Section 1. Short title

This Act may be cited as the No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act.

Sec. 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.