§1641a Claims Funds

Summary

The Treasury Secretary must create five claims funds inside the U.S. Treasury named Bulgarian, Hungarian, Rumanian, Italian, and Soviet. Money tied to Bulgaria, Hungary, or Romania that is deposited into the Treasury under section 1631a(a)–(b) must go into the matching fund. The Italian fund must receive $5,000,000 paid by Italy under Article II of the Memorandum of Understanding. The Soviet fund must receive money the United States collected under the Litvinov Assignment, including postal funds owed before November 16, 1933. Before any payments from these funds, the Treasury must take 5 percent from each fund to reimburse the U.S. government for expenses the Commission and the Treasury Department incur in running this claims program, and put that 5 percent into miscellaneous receipts. Any sums paid later by Bulgaria or Romania under settlement agreements go into their funds, and sums paid by Hungary under the U.S.-Hungarian Claims Agreement of March 6, 1973 go into the Hungarian fund.