1. (a) Transfer of forfeited property to forfeiture funds

   1. (1) In general Any covered forfeited property shall be deposited into the Department of the Treasury Forfeiture Fund established under section 9705 of title 31 or the Department of Justice Assets Forfeiture Fund established under section 524(c) of title 28.
   2. (2) Report required Not later than 180 days after April 24, 2024, and every 180 days thereafter, the President shall submit to the appropriate congressional committees a report on any deposits made under paragraph (1) during the 180-day period preceding submission of the report.

   3. (3) Covered forfeited property defined In this subsection, the term “covered forfeited property” means property—

      1. (A) forfeited to the United States under chapter 46 or section 1963 of title 18; and

      2. (B) that belonged to or was possessed by an individual affiliated with or connected to a transnational criminal organization subject to sanctions under—

         1. (i) this subchapter;
         2. (ii) the Fentanyl Sanctions Act (21 U.S.C. 2301 et seq.); or
         3. (iii) Executive Order 14059 (50 U.S.C. 1701 note; relating to imposing sanctions on foreign persons involved in the global illicit drug trade).
2. (b) Blocked Assets Under Terrorism Risk Insurance Act of 2002 Nothing in this subchapter may be construed to affect the treatment of blocked assets of a terrorist party described in section 201(a) of the Terrorism Risk Insurance Act of 2002 (28 U.S.C. 1610 note).

(Pub. L. 118–50, div. E, title I, § 3105, Apr. 24, 2024, 138 Stat. 938.)

Editorial Notes

References in Text

The Fentanyl Sanctions Act, referred to in subsec. (a)(3)(B)(ii), is title LXXII of div. F of Pub. L. 116–92, which is classified principally to chapter 28 (§ 2301 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2301 of this title and Tables.

Section 201(a) of the Terrorism Risk Insurance Act of 2002, referred to in subsec. (b), is section 201(a) of Pub. L. 107–297, which is set out as a note under section 1610 of Title 28, Judiciary and Judicial Procedure.