American Victims of Terrorism Compensation Act

Timely Compensation for Victims: The bill requires that fifth-round payments authorized by the Special Master on or before January 1, 2025, be distributed to eligible claimants by March 14, 2025, or as soon as information is received (Section 2(a)(1)).

Increased Funding via Asset Transfers: Large sums of money are directed to the Fund, including $898,619,225 and an additional $1,912,031,763 related to Binance Holdings Limited proceedings (Section 2(a)(2)(C)(i)(aa)).

Consistent Annual Distributions: The Act mandates that the Special Master or Attorney General authorize additional payments on January 1 of each year to include all qualifying amounts received by any agency (Section 4).

Expanded Revenue Streams: The bill allows for the deposit of funds and net proceeds from property forfeited in proceedings involving or relating to actions of a state sponsor of terrorism (Section 3(a)(1)).

Enhanced Accountability and Transparency: The Special Master must submit an annual report to Congress detailing the balance, deposits, and disbursements of the Fund, which must be published on the Fund's website (Section 5(a)(iv)).

Regular Oversight through GAO Reports: The Comptroller General is required to submit a report by January 1, 2027, and every three years thereafter, to evaluate the administration and sufficiency of the Fund (Section 5(a)(vi)).

Diversion of Funds to Crime Victims Fund: A sum of $1,505,475,575 from specific proceedings is required to be deposited into the Crime Victims Fund instead of the Victims of State Sponsored Terrorism Fund (Section 2(a)(2)(C)(i)(II)).

Administrative Costs Deducted from the Fund: The Special Master may use up to 10 full-time equivalent Department of Justice personnel, and all associated administrative costs must be paid directly from the Fund (Section 6).