H.R. 7819

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7819 Introduced in House (IH)]

<DOC>

119th CONGRESS
2d Session
H. R. 7819

To require the Comptroller General of the United States to conduct an 
audit of a United States and Venezuela energy deal, and for other 
purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

March 5, 2026

Mr. Casten (for himself and Mr. Castro of Texas) introduced the 
following bill; which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

A BILL

To require the Comptroller General of the United States to conduct an 
audit of a United States and Venezuela energy deal, and for other 
purposes.

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 ``Venezuela Oil Proceeds Transparency 
Act''.

SEC. 2. FINDINGS.

Congress finds that--
(1) on January 6, 2026, President Trump announced a United 
States-Venezuela energy deal under which the United States will 
market and sell Venezuelan oil and deposit proceeds into 
``U.S.-controlled'' accounts;
(2) according to the fact sheet of the Department of Energy 
issued on January 7, 2026, on the United States-Venezuela 
energy deal--
(A) the Federal Government has engaged commodity 
marketers and banks to execute and provide financial 
support for the crude oil and crude products sales;
(B) all proceeds from the sale of Venezuelan crude 
oil and oil products will first settle in United 
States-controlled accounts at foreign banks ``to 
guarantee the legitimacy and integrity of the ultimate 
distribution of proceeds''; and
(C) the funds will be disbursed ``for the benefit 
of the American people and the Venezuelan people at the 
discretion of the U.S. government'' and will continue 
indefinitely;
(3) under the United States-Venezuela energy deal, the 
United States is selectively rolling back sanctions to enable 
the transport and sale of Venezuelan crude and oil products to 
global markets, and the Office of Foreign Assets Control of the 
Department of the Treasury is also issuing new licenses for 
certain companies to import and export Venezuelan oil; and
(4) during testimony to the Committee on Foreign Relations 
of the Senate on January 28, 2026, Secretary of State Marco 
Rubio said there were plans for an ``audit process'' to review 
expenditures from an account in Qatar set up under the United 
States-Venezuela energy deal, but Secretary Rubio added that 
``We haven't finalized what that audit process would be.''.

SEC. 3. GAO AUDIT.

(a) In General.--Not later than 30 days after the date of enactment 
of this Act, the Comptroller General of the United States (referred to 
in this section as the ``Comptroller General'') shall initiate an audit 
of the United States-Venezuela energy deal announced on January 6, 
2026, including the activities of the Department of State, the 
Department of Energy, the Department of the Treasury, and any other 
Federal Government agencies, employees, or contractors or entities 
funded by the United States involved in implementing the deal.
(b) Interim Briefing.--Not later than 30 days after the date on 
which the audit required under subsection (a) is completed, the 
Comptroller General shall provide to the chair and ranking member of 
each committee and subcommittee of jurisdiction in the House of 
Representatives and the Senate a briefing on preliminary findings, 
scope, and any identified risks of fraud, abuse, or conflicts of 
interest identified while conducting the audit.
(c) Notice of Noncompliance.--In carrying out this section, the 
Comptroller General shall notify the chair and ranking member of each 
committee and subcommittee of jurisdiction in the House of 
Representatives and the Senate as soon as practicable if the 
Comptroller General determines that access to information has been 
unreasonably delayed or denied by any Federal department, agency, 
employee, or contractor or entity funded by the United States involved 
in implementing the United States-Venezuela energy deal described in 
subsection (a).
(d) Report.--
(1) In general.--Not later than 90 days after the date on 
which the audit required under subsection (a) is completed, the 
Comptroller General shall--
(A) submit to Congress a report on that audit, 
which shall include--
(i) a detailed description of the findings 
and conclusions of the Comptroller General with 
respect to the audit that is the subject of the 
report; and
(ii) recommendations for legislative or 
administrative action, as the Comptroller 
General determines to be appropriate; and
(B) make the report available to--
(i) the Speaker of the House of 
Representatives;
(ii) the majority and minority leaders of 
the House of Representatives;
(iii) the majority and minority leaders of 
the Senate;
(iv) the chair and ranking member of each 
committee and subcommittee of jurisdiction in 
the House of Representatives and the Senate; 
and
(v) any Member of Congress who requests the 
report.
(2) Form.--The report required under paragraph (1) shall be 
submitted in unclassified form, but may include a classified 
annex.
<all>