Never Forget the Victims of Terrorism: Joseph D. Mistrulli and Alan Kleinberg USVSST Fund Solvency Act
Sponsored By: Representative Gillen, Laura [D-NY-4]
Introduced
Summary
$3.0 billion annual Treasury loans to the US Victims of State-Sponsored Terrorism Fund for FY2027–2029. The bill would require the Secretary of the Treasury to loan $3.0 billion each year to the Fund and deposit it within 30 days of the fiscal year start. Interest on each loan would be set by the Secretary using comparable Treasury yields.
Show full summary
- Victims and the Fund: Ensures the Fund receives $3.0 billion per year for fiscal years 2027, 2028, and 2029 and requires those amounts to be distributed as part of the Fund's annual payment.
- Treasury: Directs the Secretary to make the loans promptly each year and to set interest rates based on average market yields for comparable Treasury obligations.
- Federal budget and accounting: Treats the borrowed amounts as direct spending authority and specifies they shall not be scored as new appropriations.
- Repayment and timing: The loan authority expires September 30, 2029, but amounts borrowed before that date remain available until spent and must be repaid, including interest, solely from criminal and civil fines, penalties, and forfeitures tied to state sponsors of terrorism.
*Would establish $9.0 billion in Treasury loan authority over FY2027–2029 treated as direct mandatory spending, with repayment required from fines and forfeitures.*
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Three-year Treasury loans to Victims Fund
This bill would require the Treasury Secretary to loan $3 billion to the United States Victims of State Sponsored Terrorism Fund in each of fiscal years 2027, 2028, and 2029. Each loan would be deposited into the Fund within 30 days after the start of the fiscal year and must be included in and distributed as part of that year's mandatory annual payment. The loans would be available without further appropriation and would bear interest at a rate the Secretary sets based on comparable Treasury obligations. The temporary loan authority would expire on September 30, 2029; if the Fund ends, repayment of the loans and interest would come only from criminal and civil fines, penalties, and forfeitures tied to a state sponsor of terrorism that are directed to the Treasury.
Sponsors & CoSponsors
Sponsor
Gillen, Laura [D-NY-4]
NY • D
Cosponsors
Rep. Malliotakis, Nicole [R-NY-11]
NY • R
Sponsored 7/21/2026
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 7/23/2026
Rep. Gottheimer, Josh [D-NJ-5]
NJ • D
Sponsored 7/30/2026
Rep. Hunt, Wesley [R-TX-38]
TX • R
Sponsored 7/30/2026
Rep. Goldman, Daniel S. [D-NY-10]
NY • D
Sponsored 8/3/2026
Rep. Latimer, George [D-NY-16]
NY • D
Sponsored 8/17/2026
Rep. Weber, Randy K. Sr. [R-TX-14]
TX • R
Sponsored 8/24/2026
Rep. Van Drew, Jefferson [R-NJ-2]
NJ • R
Sponsored 8/27/2026
Rep. Smith, Christopher H. [R-NJ-4]
NJ • R
Sponsored 8/31/2026
Rep. Langworthy, Nicholas A. [R-NY-23]
NY • R
Sponsored 9/1/2026
Rep. LaLota, Nick [R-NY-1]
NY • R
Sponsored 9/2/2026
Rep. Thompson, Glenn [R-PA-15]
PA • R
Sponsored 9/2/2026
Rep. Suozzi, Thomas R. [D-NY-3]
NY • D
Sponsored 9/4/2026
Roll Call Votes
No roll call votes available for this bill.
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