On March 19, 2012,the U.S. House of Representatives passed the Foreign Cultural Exchange Jurisdictional Immunity Clarification Act. This legislation, introduced by Judiciary Committee member Rep. Steve Chabot (R-OH) and co-sponsored by Rep. John Conyers (D-MI), Rep. Lamar Smith (R-TX), and Rep. Steve Cohen (D-TX), seeks to protect foreign artwork on loan to American museums by clarifying a part of the Foreign Sovereign Immunities Act (FSIA). Next stop, the Senate.

Source: http://thehill.com/blogs/floor-action/house/216649-house-to-protect-foreign-artwork-except-artwork-stolen-by-nazis

For a more detailed analysis of the bill, read http://culturalheritagelawyer.blogspot.com/2012/03/us-house-passes-foreign-cultural.html.