Us Congress 2023-2024 Regular Session

Us Congress House Bill HB465 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	118THCONGRESS
3	3	1
4	4	STSESSION H. R. 465
5	5	To amend the Foreign Assistance Act of 1961 to improve the protection
6	6	of United States investors against certain prejudicial actions taken by
7	7	the government of a foreign country.
8	8	IN THE HOUSE OF REPRESENTATIVES
9	9	JANUARY24, 2023
10	10	Mr. G
11	11	OSARintroduced the following bill; which was referred to the Committee
12	12	on Foreign Affairs
13	13	A BILL
14	14	To amend the Foreign Assistance Act of 1961 to improve
15	15	the protection of United States investors against certain
16	16	prejudicial actions taken by the government of a foreign
17	17	country.
18	18	Be it enacted by the Senate and House of Representa-1
19	19	tives of the United States of America in Congress assembled, 2
20	20	SECTION 1. SHORT TITLE. 3
21	21	This Act may be cited as the ‘‘Protect U.S. Invest-4
22	22	ments Act of 2023’’. 5
23	23	SEC. 2. PROTECTION OF UNITED STATES INVESTORS. 6
24	24	Section 620(e) of the Foreign Assistance Act of 1961 7
25	25	(22 U.S.C. 2370(e)) is amended— 8
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28	28	•HR 465 IH
29	29	(1) in paragraph (1)— 1
30	30	(A) in subparagraph (B), by inserting ‘‘, 2
31	31	including by failing to meet, confer, or engage 3
32	32	in good faith consultations and negotiations 4
33	33	through a duly authorized representative with 5
34	34	any such United States citizen or corporation, 6
35	35	partnership, or association, as contemplated by 7
36	36	any governing investment treaty, such as Arti-8
37	37	cle 10.15 of the Dominican Republic-Central 9
38	38	America-United States Free Trade Agreement, 10
39	39	not later than 30 days after having been served 11
40	40	a written request for such treaty consultations 12
41	41	or negotiations, separately or in connection with 13
42	42	a notice of intent to arbitrate’’ after ‘‘citizens’’; 14
43	43	and 15
44	44	(B) by adding at the end the following new 16
45	45	sentence: ‘‘For purposes of this subsection and 17
46	46	in addition to any other forms otherwise pro-18
47	47	vided for by law, the term ‘assistance’ includes 19
48	48	any direct or indirect transfer, grant, loan, or 20
49	49	guarantee, which is subject to appropriation by 21
50	50	Congress, to the government of any foreign 22
51	51	country, but does not include assistance pri-23
52	52	marily supporting United States law enforce-24
53	53	ment or national security interests.’’; and 25
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56	56	•HR 465 IH
57	57	(2) by adding at the end the following new 1
58	58	paragraphs: 2
59	59	‘‘(3) A United States citizen or corporation, partner-3
60	60	ship, or association, whose investment comes within the 4
61	61	scope of paragraph (1) shall have— 5
62	62	‘‘(A) the right to petition the Foreign Claims 6
63	63	Settlement Commission of the United States, or its 7
64	64	successor, to render an advisory report to the Presi-8
65	65	dent, not later than 120 days after service of such 9
66	66	petition, regarding the merits of enforcing this sub-10
67	67	section with respect to the alleged treatment of said 11
68	68	investment by the identified foreign country; and 12
69	69	‘‘(B) in the event that the Foreign Claims Set-13
70	70	tlement Commission of the United States, or its suc-14
71	71	cessor, shall fail to timely render such advisory re-15
72	72	port, to file an action in the nature of a mandamus 16
73	73	to compel the suspension of assistance under this 17
74	74	subsection as to the identified foreign country, as re-18
75	75	ferred to in subparagraph (A) in any court of com-19
76	76	petent jurisdiction. 20
77	77	‘‘(4) Any public official of the government of any for-21
78	78	eign country who has materially assisted in any prejudicial 22
79	79	action relative to an investment in that country by any 23
80	80	United States citizen or corporation, partnership or asso-24
81	81	ciation, whose investment comes within the scope of para-25
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84	84	•HR 465 IH
85	85	graph (1), may not be provided any immigration status 1
86	86	or issued a visa under the immigration laws (as such term 2
87	87	is defined in section 101 of the Immigration and Nation-3
88	88	ality Act), or be admitted to the United States, until such 4
89	89	prejudicial action is rescinded, reversed, permanently en-5
90	90	joined, or fully remediated. 6
91	91	‘‘(5) Any public official of the government of any for-7
92	92	eign country who has materially assisted in any prejudicial 8
93	93	action relative to an investment in that country by any 9
94	94	United States citizen or corporation, partnership or asso-10
95	95	ciation, whose investment comes within the scope of para-11
96	96	graph (1), shall be denied remittances by every financial 12
97	97	institution located in the United States until such preju-13
98	98	dicial action is rescinded, reversed, permanently enjoined, 14
99	99	or fully remediated.’’. 15
100	100	SEC. 3. EFFECTIVE DATE. 16
101	101	The amendments made by section 2 shall take effect 17
102	102	on the date of the enactment of this Act and shall apply 18
103	103	with respect to any controversy arising before, on, or after 19
104	104	such date that involves an investment within the scope of 20
105	105	section 620(e)(1) of the Foreign Assistance Act of 1961 21
106	106	(22 U.S.C. 2370(e)(1)). 22
107	107	Æ
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