The American Victims of Terrorism Compensation Act directs funds to compensate U.S. citizens harmed by state-sponsored terrorism attacks. The bill establishes new funding sources for the U.S. Victims of State Sponsored Terrorism Fund, including $898.6 million from Binance Holdings Limited's criminal settlement, 100 percent of criminal penalties and fines related to state sponsors of terrorism, and 75 percent of civil penalties and fines from such cases. Additionally, the bill transfers 50 percent of excess unobligated balances from the Department of Justice and Department of Treasury forfeiture funds to the compensation fund annually beginning December 1, 2024. The legislation requires the Special Master to authorize and distribute payments to eligible claimants starting January 1, 2025, and annually thereafter, with annual reporting to Congress on fund activity and a Government Accountability Office evaluation by January 1, 2027.
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