The Preserving Accountability for National Assets Act of 2023 establishes a Venezuela Restoration Fund within the U.S. Treasury to support democratic reform and human rights efforts in Venezuela. Money deposited into the fund would come from assets and money forfeited to the United States from individuals and entities connected to the Hugo Chávez and Nicolás Maduro regimes. The Secretary of State would have authority to use these funds, without time limits or need for additional congressional approval, to strengthen Venezuelan democratic institutions, defend human rights, support independent media, and combat corruption within the Maduro regime. The bill requires the Secretary of State to report annually to Congress on how much money has been deposited into the fund and how it has been spent. This fund would complement existing U.S. foreign assistance and diplomatic efforts in Venezuela.
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