S.Amdt. 3649

1. Adds SEC. __. JUSTICE FOR FORMER AMERICAN HOSTAGES IN IRAN wherever appropriate

   Adds a section

   Inserted: SEC. __. JUSTICE FOR FORMER AMERICAN HOSTAGES IN IRAN.

   Inserted: (a) Findings.--Congress finds that--

   Inserted: (1) on November 4, 1979, the Iranian militants seized the United States Embassy in Tehran, Iran, and held 52 Americans hostage for 444 days until their negotiated release on January 20, 1981;

   Inserted: (2) on January 19, 1981, the United States Department of State entered into a series of agreements with Iran that came to be known as the Algiers Accords. The accords established the United States-Iran Claims Tribunal to adjudicate United States and Iranian commercial claims. The Accords, however, precluded the 52 American hostages or their families from bringing suit against Iran for their seizure, detention, torture, and injuries;

   Inserted: (3) on December 29, 2000, the 52 American hostages and their spouses and children filed suit in the United States District Court for the District of Columbia, pursuant to the Antiterrorism and Effective Death Penalty Act of 1996 (Public Law 104-132);

   Inserted: (4) on August 6, 2001, the District Court entered a default judgment against Iran after certifying the case as a class action;

   Inserted: (5) the United States Department of State intervened in the case of the former American hostages and their families, and successfully moved to vacate the decision against Iran by invoking the Algiers Accords;

   Inserted: (6) the former American Hostages and their families have been denied the rights given every other American citizen to prosecute their claims against a state sponsor of terrorism pursuant to the Antiterrorism and Effective Death Penalty Act of 1996; and

   Inserted: (7) a common fund should be established to recognize these American heroes.

   Inserted: (b) Common Fund for Hostages.--

   Inserted: (1) In general.--Not later than 90 days after the date of the enactment of this Act, the Secretary of the Treasury, in consultation with the Secretary of State, shall commence payments to a common fund to be established and administered by the certified class representatives for the former American hostages in Iran and their survivors (as identified in case number 1:00CV03110 (EGS) of the United States District Court for the District of Columbia).

   Inserted: (2) Administration.--The common fund shall--

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   Inserted: (A) be administered to pay claims to the Americans held hostage in Iran and to members of their families, and the estates of those hostages and family members who have since died, who were identified as class members in case number 1:00CV03110 (EGS) of the United States District Court for the District of Columbia; and

   Inserted: (B) be administered for the purpose of satisfying such claims, as approved by the certified class representatives identified in that case number.

   Inserted: (c) Funding.--Payments to the common fund under subsection (b) shall be derived from the liquidation of blocked assets (as defined in section 201(d)(2) of the Terrorism Risk Insurance Act of 2002 (Public Law 107-297; 28 U.S.C. 1610 note) with respect to Iran, and from amounts in the Iran Foreign Military Sales Fund account within the Foreign Military Sales Fund. The Secretary of the Treasury may use the interest in the Iran Foreign Military Sales Fund account, the principal in the account, or liquidate assets for purposes of this subsection.

   Inserted: (d) Amount.--The Secretary of the Treasury shall make payments into the fund in amounts equal to--

   Inserted: (1) for each former hostage identified as a class member under subsection (b)(1), $1,000 for each day of captivity;

   Inserted: (2) for each spouse and child identified as a class member under subsection (b)(1), $500 for each day of captivity of the former hostages; and

   Inserted: (3) interest on each amount under paragraph (1) and (2), calculated at the historical daily prime rate, as published by the Board of Governors of the Federal Reserve System, for the period from the date of the release of the hostages until the date of payment under this section.

   Inserted: (e) Taxes.--Payments to the former American hostages and their family members pursuant to this section shall be exempt from Federal taxes.

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   Original wording

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As printed