No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act

Ban on U.S. reimbursements for Venezuelan oil

If enacted, the bill would bar use of any funds from the U.S. Treasury or any account owned, controlled, or accessible by the United States (or by a person acting on its behalf) to pay reimbursements for "qualified capital expenditures" in Venezuela's oil and gas sector. It would define "capital expenditure" as money paid for new buildings or permanent improvements that raise property value. It would define "person" to include U.S. citizens, green card holders, and any domestic or foreign company, partnership, or organization. The ban would apply to projects in the Bolivarian Republic of Venezuela (or a legal successor) and would take effect upon enactment without listed exceptions or a separate reimbursement program.