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Never Forget the Victims of Terrorism: Joseph D. Mistrulli and Alan Kleinberg USVSST Fund Solvency Act
To expand the temporary borrowing authority and mandatory distribution for the United States Victims of State Sponsored Terrorism Fund.
Summary
- Authorizes the Secretary of the Treasury to loan $3 billion per year to the United States Victims of State Sponsored Terrorism Fund for fiscal years 2027, 2028, and 2029.
- Requires the full amount of each year's loan to be distributed to victims annually, with no amounts retained or carried forward.
- Establishes that borrowed amounts bear interest at the market rate for comparable Treasury obligations and are available without further appropriation.
- Directs that borrowed amounts be repaid from criminal and civil fines and forfeitures involving state sponsors of terrorism after the Fund terminates.
- Expires the borrowing authority on September 30, 2029, though borrowed funds remain available until expended.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Gillen, Laura [D-NY-4] (D-NY)
2 cosponsors
Actions (2)
- Jul 21, 2026 Referred to the House Committee on the Judiciary. · house
- Jul 21, 2026 Introduced in House
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
July 21, 2026
Ms. Gillen (for herself and Ms. Malliotakis) introduced the following bill; which was referred to the Committee on the Judiciary
A BILL
To expand the temporary borrowing authority and mandatory distribution for the United States Victims of State Sponsored Terrorism Fund.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Never Forget the Victims of Terrorism: Joseph D. Mistrulli and Alan Kleinberg USVSST Fund Solvency Act”.
SEC. 2. TEMPORARY BORROWING AUTHORITY AND MANDATORY DISTRIBUTION FOR THE UNITED STATES VICTIMS OF STATE SPONSORED TERRORISM FUND.
Section 404 of the Justice for United States Victims of State Sponsored Terrorism Act (34 U.S.C. 20144) is amended by adding at the end the following:
“(l) Temporary Borrowing and Mandatory Distribution Authority.—
“(1) Mandatory annual borrowing.—For each of fiscal years 2027, 2028, and 2029, the Secretary of the Treasury shall loan to the Fund $3,000,000,000, which shall be deposited into the Fund not later than 30 days after the beginning of each such fiscal year.
“(2) Mandatory inclusion in annual payment.—
“(A) Inclusion.—The full amount borrowed under paragraph (1) for each fiscal year shall be included in the annual payment required under subsection (d) and shall be distributed as part of that annual payment.
“(B) Limitation.—Amounts borrowed under this subsection shall not be reserved, retained, or carried forward for any payment other than the annual payment required under subsection (d).
“(3) Terms of borrowing.—Amounts borrowed under this subsection—
“(A) shall be available without further appropriation;
“(B) shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity; and
“(C) upon the termination of the Fund, the amounts borrowed under this subsection, including interest, shall be repaid solely from criminal and civil fines, penalties, and forfeitures involving a state sponsor of terrorism that, after such expiration, are directed to the Secretary of the Treasury for the purpose of such repayment.
“(4) Budgetary treatment.—Amounts borrowed under this subsection shall be treated as direct spending authority and shall not be scored as new appropriations.
“(5) Sunset.—The authority provided under this subsection shall expire on September 30, 2029, except that amounts borrowed before that date shall remain available until expended and shall remain subject to repayment under paragraph
(3)(C).”. <all>
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