This legislation mandates that the Secretary of State develop and submit a comprehensive strategy to Congress within 180 days of enactment, aimed at supporting a democratic transition in the Bolivarian Republic of Venezuela. This strategy is designed to outline the United States' approach to fostering democracy and stability in the region. The required strategy must include several key elements, such as a description of diplomatic efforts, a plan to prioritize the release of arbitrarily detained individuals, and efforts to curb foreign authoritarian influence from countries like Cuba, Russia, Iran, and China within Venezuela's government and security services. It also necessitates a plan for using U.S. foreign assistance for humanitarian aid, democracy programming, and strengthening basic services, alongside efforts to support Venezuelan civil society, including independent media and human rights defenders. Following the initial submission, the Secretary is required to provide annual reports for two years detailing progress and recommending changes to the strategy. Furthermore, semi-annual congressional consultations are mandated to ensure ongoing oversight and collaboration regarding the strategy's implementation.