CRS summary states that the bill “establishes the National Foundation for the Study of Holocaust Assets as an independent entity of the Executive branch to: (1) serve as a centralized repository for research and information about Holocaust-era assets; and (2) create tools to assist individuals and institutions to determine the ownership of Holocaust victims' assets and to enable claimants to obtain the speedy resolution of their personal property claims.”
The foundation will exist until 9/11/2011 at which time all materials from the foundation will be transferred to the U.S. Holocaust Memorial Museum.
Finally, an undesignated amount of funding is authorized to carry out the requirements of this act though no attorney fees for private claims can be used by such expenses.
See also: identical measure H.R. 3552 on 12/20/01