No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act

Key Points

• Would block the U.S. government from using federal funds to reimburse anyone for certain oil and gas investment costs in Venezuela.
• Covers “capital expenditures,” meaning big long-term spending like new buildings or permanent upgrades meant to increase a property’s value.
• Applies broadly to people and organizations, including U.S. citizens, permanent residents, and U.S. or foreign companies and partnerships.
• Would apply not just to the Treasury, but also to any U.S.-controlled account, and to payments made by someone acting for the U.S. government.
• Practical effect: U.S. taxpayers wouldn’t help cover companies’ long-term oil and gas buildouts in Venezuela, even indirectly through reimbursements.