Internet Application I.D. Act Internet Application Integrity and Disclosure Act
Impact
The legislation seeks to amend current federal privacy regulations by imposing additional disclosure requirements specifically pertaining to the ownership and control of digital platforms. With the growing scrutiny on foreign ownership of technology firms, especially those associated with China, this bill reflects a broader trend to regulate technological entities to protect consumer information and national security. However, it opens up discussions on the fine line between necessary transparency and creating barriers for foreign investments or business operations in the U.S.
Summary
House Bill 784, also known as the Internet Application Integrity and Disclosure Act, mandates that any internet website or mobile application that is owned, wholly or partially, by the Chinese Communist Party or by a non-state-owned entity based in the People's Republic of China must disclose this ownership to users. This legislation is aimed at enhancing transparency and safeguarding American users from potential risks associated with applications that may have ties to the Chinese government, particularly in terms of data privacy and security.
Sentiment
The sentiment surrounding HB 784 appears to be largely supportive from those concerned about national security and data integrity. Lawmakers advocating for the bill argue it is essential to protect Americans from potential surveillance or data misuse by foreign entities. However, critics fear that this bill could lead to discrimination against foreign companies and may also result in unintended consequences that stifle competition and innovation within the tech sector.
Contention
A notable point of contention within the discussions of HB 784 revolves around the implications this bill may have on the U.S. relationship with China and the impact on technology commerce. Some members express concerns regarding the bill branding all Chinese-owned apps as a potential threat, which may hinder fair competition and hurt consumers who rely on such applications. Additionally, questions of enforcement mechanisms by the Federal Trade Commission and potential ramifications for companies who fail to comply are also pivotal challenges that need to be addressed in the context of this legislation.
Securing American Families and Enterprises from People's Republic of China Investments Act or the SAFE from PRC Investments Act This bill requires certain issuers of securities and funds traded on an exchange to report on connections to China or the Communist Party of China. In particular, an issuer with specified connections to China must annually disclose a variety of details, including whether executive-level employees, senior directors, or board members are members of the Communist Party of China; interactions with the party; expenditures in China; expenditures in the United States regarding operations and lobbying activities; and the ability of the Public Company Accounting Oversight Board to audit the issuer. Additionally, an exchange-traded fund that invests in a Chinese company must annually disclose about that company ownership information, party involvement, whether the company participates in specified Chinese policies or activities, any ties to U.S.-sanctioned individuals, and the types of products or services produced by the company.
ANTI-SOCIAL CCP Act Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party Act