HR5344-119

What This Bill Does
This bill extends and formalizes the Kleptocracy Asset Recovery Rewards Pilot Program, renaming it the Kleptocracy Asset Recovery Rewards Program. The program pays rewards to individuals who provide information leading to the seizure or forfeiture of stolen assets hidden in the U.S. by foreign corrupt officials. The bill replaces the previous 3-year expiration with a new 7-year sunset clause.

Who Benefits and How
Whistleblowers and informants benefit from continued availability of rewards for providing tips about foreign kleptocrat assets in the United States. U.S. law enforcement agencies gain a more stable program for recovering stolen assets. The extended authorization gives potential tipsters more confidence the program will exist long enough to process their information and pay rewards.

Who Bears the Burden and How
Foreign kleptocrats and corrupt officials who hide stolen assets in the U.S. face increased risk of asset seizure as the rewards program continues to incentivize tips. No new burdens are placed on U.S. taxpayers since rewards are paid from forfeited assets, not appropriations.

Key Provisions
- Removes "Pilot" designation from the program name
- Extends program authorization from 3 years to 7 years
- Maintains existing reward structure for information leading to asset recovery
- New sunset clause begins from date of this Act's enactment