A bill to provide for the payment, out of the proceeds of gold belonging to the Government of Czechoslovakia, of certified awards of nationals of the United States against the Government of Czechoslovakia and to provide for the release of such proceeds to Czechoslovakia after all such awards and certain other debts are paid.

Summary

Requires the U.S. Foreign Claims Settlement Commission to determine the validity and amount of claims against Czechoslovakia: (1) by U.S. nationals for losses resulting from the taking by Czechoslovakia of certain property between specified dates; and (2) by any person who properly filed such a claim which was denied solely because such person was not a U.S. national on the date of the taking. Directs the Secretary of State to negotiate a lump sum agreement with Czechoslovakia providing for payment of all certified awards against Czechoslovakia. Prohibits such agreement from taking effect if Congress vetoes it or if it is not submitted within a specified time. Directs the Secretary of the Treasury to take possession of and sell all Czechoslovakia gold located in the United States if such a settlement agreement acceptable to the Congress has not been made within a specified time. Directs the Secretary of State, if such an agreement is not reached, to negotiate with Great Britain and France to obtain permission to sell Czechoslovakia gold located in Great Britain. Directs the Secretary of the Treasury to sell all such gold and invest the proceeds in safe U.S. and foreign securities for payment of the awards of U.S. nationals. Reserves for Czechoslovakia the first right, for a ten-day period, before any other purchaser to purchase any such gold offered for sale. Requires all interest and other income from such investments to be deposited into the Czechoslovakian Claims Fund for distribution to those U.S. nationals holding certified awards against Czechoslovakia. Provides for the payment to Czechoslovakia of any balance remaining from such gold sale and in such Fund after: all such awards are paid; Treasury Department expenses are recovered; and certain Czechoslovakia debts to the United States are paid. Denies jurisdiction to any court over any claim against the United States for actions taken under this Act. Authorizes appropriations for fiscal years 1982 and beyond.

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1 official file

• Introduced in House

  summary · EN · 19 March 1981

  Open at official source

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