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BOLIVAR Act

Source: Congress.gov  ·  1,085 words in original text
This bill stops the U.S. government from signing contracts with companies or people that do significant business with the Venezuelan government that the U.S. does not recognize as legitimate. The law is called the "BOLIVAR Act" and applies for three years after it becomes law.
Federal government agencies that buy goods and services, companies and individuals doing business with unrecognized Venezuelan government officials, and the Secretary of State who enforces these rules.
• Federal agencies cannot contract with any person that knowingly does significant business with an unrecognized Venezuelan government authority, with the Secretary of State's agreement (Sec. 2(a)) • The Secretary of State can allow contracts if they provide humanitarian aid, disaster relief, life-saving measures, noncombatant evacuations, or serve U.S. national security interests (Sec. 2(b)(1)) • Contracts supporting U.S. government activities in Venezuela, including maintaining U.S. government facilities and offices there, are allowed (Sec. 2(b)(2) and (d)) • The Secretary of State must notify Congress about any contracts approved under the exceptions (Sec. 2(b)(3)) • The Secretary of State can waive these rules if it serves the national interest of the United States (Sec. 2(e))
Starting when this law takes effect, U.S. government agencies must check whether companies they want to hire do business with the unrecognized Venezuelan government. If they do, the agency cannot sign a contract with them unless an exception applies.
• Business operations means doing any kind of commerce including buying, developing, owning, selling, leasing or operating equipment, facilities, property, products or services (Sec. 2(f)(2)) • Person includes individuals, corporations, companies, partnerships, trusts and other organizations, plus any parent company, subsidiary or related entity (Sec. 2(f)(5)) • Executive agency means the agencies defined in section 133 of title 41, United States Code (Sec. 2(f)(3))
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.