1 | 1 | | I |
---|
2 | 2 | | 118THCONGRESS |
---|
3 | 3 | | 1 |
---|
4 | 4 | | STSESSION H. R. 499 |
---|
5 | 5 | | To amend the Securities Exchange Act of 1934 to require certain additional |
---|
6 | 6 | | annual disclosures by public companies and exchange-traded funds invest- |
---|
7 | 7 | | ing in companies with ties to the People’s Republic of China, and for |
---|
8 | 8 | | other purposes. |
---|
9 | 9 | | IN THE HOUSE OF REPRESENTATIVES |
---|
10 | 10 | | JANUARY25, 2023 |
---|
11 | 11 | | Mr. F |
---|
12 | 12 | | ALLON(for himself, Mr. ELLZEY, Mr. JACKSONof Texas, and Mr. |
---|
13 | 13 | | A |
---|
14 | 14 | | MODEI) introduced the following bill; which was referred to the Com- |
---|
15 | 15 | | mittee on Financial Services |
---|
16 | 16 | | A BILL |
---|
17 | 17 | | To amend the Securities Exchange Act of 1934 to require |
---|
18 | 18 | | certain additional annual disclosures by public companies |
---|
19 | 19 | | and exchange-traded funds investing in companies with |
---|
20 | 20 | | ties to the People’s Republic of China, and for other |
---|
21 | 21 | | purposes. |
---|
22 | 22 | | Be it enacted by the Senate and House of Representa-1 |
---|
23 | 23 | | tives of the United States of America in Congress assembled, 2 |
---|
24 | 24 | | SECTION 1. SHORT TITLE. 3 |
---|
25 | 25 | | This Act may be cited as the ‘‘Securing American 4 |
---|
26 | 26 | | Families and Enterprises from People’s Republic of China 5 |
---|
27 | 27 | | Investments Act’’ or the ‘‘SAFE from PRC Investments 6 |
---|
28 | 28 | | Act’’. 7 |
---|
29 | 29 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
30 | 30 | | pbinns on DSKJLVW7X2PROD with $$_JOB 2 |
---|
31 | 31 | | •HR 499 IH |
---|
32 | 32 | | SEC. 2. ADDITIONAL DISCLOSURES TO PROTECT AMERICAN 1 |
---|
33 | 33 | | INVESTORS AND BUSINESSES. 2 |
---|
34 | 34 | | Section 13 of the Securities Exchange Act of 1934 3 |
---|
35 | 35 | | (15 U.S.C. 78m) is amended by adding at the end the 4 |
---|
36 | 36 | | following: 5 |
---|
37 | 37 | | ‘‘(s) A |
---|
38 | 38 | | DDITIONALDISCLOSURESTOPROTECTAMER-6 |
---|
39 | 39 | | ICANINVESTORS ANDBUSINESSES.— 7 |
---|
40 | 40 | | ‘‘(1) I |
---|
41 | 41 | | N GENERAL.—Each covered issuer that is 8 |
---|
42 | 42 | | required to file an annual report under section 13(a) 9 |
---|
43 | 43 | | or 15(d) shall disclose in that report the following: 10 |
---|
44 | 44 | | ‘‘(A) Whether a senior official of the 11 |
---|
45 | 45 | | national- or provincial-level governments of the 12 |
---|
46 | 46 | | People’s Republic of China (‘PRC’) sits on the 13 |
---|
47 | 47 | | board of directors of the issuer or any sub-14 |
---|
48 | 48 | | sidiary of the issuer. 15 |
---|
49 | 49 | | ‘‘(B) Whether executive-level employees, 16 |
---|
50 | 50 | | senior directors, and board members of the 17 |
---|
51 | 51 | | issuer are members of the Communist Party of 18 |
---|
52 | 52 | | China. 19 |
---|
53 | 53 | | ‘‘(C) Whether executive-level employees, 20 |
---|
54 | 54 | | senior directors, and board members of the 21 |
---|
55 | 55 | | issuer have immediate family members that are 22 |
---|
56 | 56 | | senior officials of the Communist Party of 23 |
---|
57 | 57 | | China or the Government of the People’s Re-24 |
---|
58 | 58 | | public of China. 25 |
---|
59 | 59 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
60 | 60 | | pbinns on DSKJLVW7X2PROD with $$_JOB 3 |
---|
61 | 61 | | •HR 499 IH |
---|
62 | 62 | | ‘‘(D) Whether the issuer has a party 1 |
---|
63 | 63 | | branch or committee as part of the issuer’s cor-2 |
---|
64 | 64 | | porate structure. 3 |
---|
65 | 65 | | ‘‘(E) With respect to the operations of the 4 |
---|
66 | 66 | | issuer located in the PRC— 5 |
---|
67 | 67 | | ‘‘(i) the amount of cash held; 6 |
---|
68 | 68 | | ‘‘(ii) any limits imposed by the Com-7 |
---|
69 | 69 | | munist Party of China or the Government 8 |
---|
70 | 70 | | of the People’s Republic of China on the 9 |
---|
71 | 71 | | ability to take such cash out of the coun-10 |
---|
72 | 72 | | try; and 11 |
---|
73 | 73 | | ‘‘(iii) disclosure of investments, assets 12 |
---|
74 | 74 | | and liabilities, technology licensed or trans-13 |
---|
75 | 75 | | ferred, and financing or debt obligations 14 |
---|
76 | 76 | | involving PRC operations or from a PRC 15 |
---|
77 | 77 | | entity. 16 |
---|
78 | 78 | | ‘‘(F) The number of times executive-level 17 |
---|
79 | 79 | | employees of the issuer interact with senior offi-18 |
---|
80 | 80 | | cials of the Communist Party of China and the 19 |
---|
81 | 81 | | costs of those meetings and any transfer of 20 |
---|
82 | 82 | | goods, money, or services between issuer’s em-21 |
---|
83 | 83 | | ployees. 22 |
---|
84 | 84 | | ‘‘(G) The amount the issuer has expended 23 |
---|
85 | 85 | | on operations in the People’s Republic of China, 24 |
---|
86 | 86 | | both in total and for the prior fiscal year. 25 |
---|
87 | 87 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
88 | 88 | | pbinns on DSKJLVW7X2PROD with $$_JOB 4 |
---|
89 | 89 | | •HR 499 IH |
---|
90 | 90 | | ‘‘(H) The amount the issuer has expended 1 |
---|
91 | 91 | | on operations in the United States, both in 2 |
---|
92 | 92 | | total and for the prior fiscal year. 3 |
---|
93 | 93 | | ‘‘(I) The amount (both in total and for the 4 |
---|
94 | 94 | | prior fiscal year) that the issuer has spent on 5 |
---|
95 | 95 | | lobbying in the United States, including— 6 |
---|
96 | 96 | | ‘‘(i) whether the issuer or any sub-7 |
---|
97 | 97 | | sidiary of the issuer has reported any sums 8 |
---|
98 | 98 | | under the Foreign Agents Registration Act 9 |
---|
99 | 99 | | of 1938; and 10 |
---|
100 | 100 | | ‘‘(ii) whether the issuer or any sub-11 |
---|
101 | 101 | | sidiary of the issuer has reported any sums 12 |
---|
102 | 102 | | under the Lobbying Disclosure Act of 13 |
---|
103 | 103 | | 1995. 14 |
---|
104 | 104 | | ‘‘(J) Whether the Public Company Ac-15 |
---|
105 | 105 | | counting Oversight Board is unable to inspect 16 |
---|
106 | 106 | | or investigate a registered public accounting 17 |
---|
107 | 107 | | firm retained by the issuer to prepare an audit 18 |
---|
108 | 108 | | report on the financial statement of the issuer. 19 |
---|
109 | 109 | | ‘‘(K) The amount of taxes and other fees 20 |
---|
110 | 110 | | the issuer paid to the Government of the Peo-21 |
---|
111 | 111 | | ple’s Republic of China on an annual basis. 22 |
---|
112 | 112 | | ‘‘(L) With respect to customer data— 23 |
---|
113 | 113 | | ‘‘(i) who has access to such data; 24 |
---|
114 | 114 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
115 | 115 | | pbinns on DSKJLVW7X2PROD with $$_JOB 5 |
---|
116 | 116 | | •HR 499 IH |
---|
117 | 117 | | ‘‘(ii) disclosure of instances when in-1 |
---|
118 | 118 | | formation is requested, arrangements that 2 |
---|
119 | 119 | | may allow passive or continuous access, ef-3 |
---|
120 | 120 | | forts to protect such data, instances of 4 |
---|
121 | 121 | | cyber-attack, corporate or personnel dis-5 |
---|
122 | 122 | | putes that involve potential breaches, and 6 |
---|
123 | 123 | | notification of other breaches; and 7 |
---|
124 | 124 | | ‘‘(iii) whether such data is stored in 8 |
---|
125 | 125 | | the United States and, if not, the country 9 |
---|
126 | 126 | | or territory in which such data is stored. 10 |
---|
127 | 127 | | ‘‘(M) For each subsidiary of the issuer lo-11 |
---|
128 | 128 | | cated in the PRC, the information described 12 |
---|
129 | 129 | | under subparagraphs (A) through (L) with re-13 |
---|
130 | 130 | | spect to such subsidiary. 14 |
---|
131 | 131 | | ‘‘(N) If the issuer or any subsidiary of the 15 |
---|
132 | 132 | | issuer located in the PRC produces goods or 16 |
---|
133 | 133 | | services that are part of a military-civil fusion 17 |
---|
134 | 134 | | strategy, whether the issuer has consulted with 18 |
---|
135 | 135 | | the People’s Liberation Army or the Ministry of 19 |
---|
136 | 136 | | State Security with regard to industrial policy. 20 |
---|
137 | 137 | | ‘‘(2) D |
---|
138 | 138 | | EFINITIONS.—In this subsection: 21 |
---|
139 | 139 | | ‘‘(A) C |
---|
140 | 140 | | OMMUNIST PARTY OF CHINA .—The 22 |
---|
141 | 141 | | term ‘Communist Party of China’ means the 23 |
---|
142 | 142 | | ruling party of the People’s Republic of China, 24 |
---|
143 | 143 | | including— 25 |
---|
144 | 144 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
145 | 145 | | pbinns on DSKJLVW7X2PROD with $$_JOB 6 |
---|
146 | 146 | | •HR 499 IH |
---|
147 | 147 | | ‘‘(i) party bodies at the national and 1 |
---|
148 | 148 | | sub-national level; and 2 |
---|
149 | 149 | | ‘‘(ii) any agency or instrumentality of 3 |
---|
150 | 150 | | the Communist Party of China. 4 |
---|
151 | 151 | | ‘‘(B) C |
---|
152 | 152 | | OVERED ISSUER.—The term ‘cov-5 |
---|
153 | 153 | | ered issuer’ means an issuer— 6 |
---|
154 | 154 | | ‘‘(i) that is— 7 |
---|
155 | 155 | | ‘‘(I) headquartered in the PRC 8 |
---|
156 | 156 | | (including the Hong Kong and Macau 9 |
---|
157 | 157 | | Special Administrative Regions); 10 |
---|
158 | 158 | | ‘‘(II) a branch or subsidiary of 11 |
---|
159 | 159 | | an issuer headquartered in the PRC; 12 |
---|
160 | 160 | | or 13 |
---|
161 | 161 | | ‘‘(III) a variable interest entity 14 |
---|
162 | 162 | | or other type of firm structured 15 |
---|
163 | 163 | | through a series of contracts or over-16 |
---|
164 | 164 | | lapping personnel— 17 |
---|
165 | 165 | | ‘‘(aa) that are tied to core 18 |
---|
166 | 166 | | operations in the PRC; or 19 |
---|
167 | 167 | | ‘‘(bb) controlled and owned 20 |
---|
168 | 168 | | by an issuer headquartered in the 21 |
---|
169 | 169 | | PRC; or 22 |
---|
170 | 170 | | ‘‘(ii) that— 23 |
---|
171 | 171 | | ‘‘(I) is domiciled in a tax haven 24 |
---|
172 | 172 | | jurisdiction or self-governing terri-25 |
---|
173 | 173 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
174 | 174 | | pbinns on DSKJLVW7X2PROD with $$_JOB 7 |
---|
175 | 175 | | •HR 499 IH |
---|
176 | 176 | | tories, including the Cayman Islands, 1 |
---|
177 | 177 | | British Virgin Islands, Bermuda, the 2 |
---|
178 | 178 | | Netherlands, Switzerland, Luxem-3 |
---|
179 | 179 | | bourg, Singapore, the United Arab 4 |
---|
180 | 180 | | Emirates, the Bahamas, Cyprus, or 5 |
---|
181 | 181 | | Mauritius; and 6 |
---|
182 | 182 | | ‘‘(II) has the majority of the 7 |
---|
183 | 183 | | issuer’s business operations taking 8 |
---|
184 | 184 | | place or the majority of the issuer’s 9 |
---|
185 | 185 | | revenue generated in mainland China. 10 |
---|
186 | 186 | | ‘‘(C) G |
---|
187 | 187 | | OVERNMENT OF THE PEOPLE ’SRE-11 |
---|
188 | 188 | | PUBLIC OF CHINA.—The term ‘Government of 12 |
---|
189 | 189 | | the People’s Republic of China’ means any of 13 |
---|
190 | 190 | | the following: 14 |
---|
191 | 191 | | ‘‘(i) Any national or sub-national gov-15 |
---|
192 | 192 | | ernmental unit of the People’s Republic of 16 |
---|
193 | 193 | | China. 17 |
---|
194 | 194 | | ‘‘(ii) Any national or sub-national leg-18 |
---|
195 | 195 | | islature of the People’s Republic of China. 19 |
---|
196 | 196 | | ‘‘(iii) Any national or sub-national 20 |
---|
197 | 197 | | People’s Political Consultative Conference 21 |
---|
198 | 198 | | of the People’s Republic of China. 22 |
---|
199 | 199 | | ‘‘(iv) Any national or sub-national ju-23 |
---|
200 | 200 | | dicial or prosecutorial body of the People’s 24 |
---|
201 | 201 | | Republic of China. 25 |
---|
202 | 202 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
203 | 203 | | pbinns on DSKJLVW7X2PROD with $$_JOB 8 |
---|
204 | 204 | | •HR 499 IH |
---|
205 | 205 | | ‘‘(v) Any national or sub-national su-1 |
---|
206 | 206 | | pervision commission of the People’s Re-2 |
---|
207 | 207 | | public of China. 3 |
---|
208 | 208 | | ‘‘(vi) Any agency or instrumentality of 4 |
---|
209 | 209 | | the People’s Republic of China. 5 |
---|
210 | 210 | | ‘‘(D) I |
---|
211 | 211 | | MMEDIATE FAMILY MEMBER .—The 6 |
---|
212 | 212 | | term ‘immediate family member’ shall include a 7 |
---|
213 | 213 | | spouse, domestic partner, mother, father, aunt, 8 |
---|
214 | 214 | | uncle, sibling, or child. 9 |
---|
215 | 215 | | ‘‘(E) M |
---|
216 | 216 | | ILITARY-CIVIL FUSION STRAT -10 |
---|
217 | 217 | | EGY.—The term ‘military-civil fusion strategy’ 11 |
---|
218 | 218 | | means the strategy of the Communist Party of 12 |
---|
219 | 219 | | China aiming to mobilize non-military resources 13 |
---|
220 | 220 | | and expertise for military application, includ-14 |
---|
221 | 221 | | ing— 15 |
---|
222 | 222 | | ‘‘(i) the development of technology, 16 |
---|
223 | 223 | | improvements in logistics, and other uses 17 |
---|
224 | 224 | | by the People’s Liberation Army; and 18 |
---|
225 | 225 | | ‘‘(ii) firms which develop and acquire 19 |
---|
226 | 226 | | advanced dual-use technology for military 20 |
---|
227 | 227 | | purposes. 21 |
---|
228 | 228 | | ‘‘(F) PRC.—The term ‘PRC’ means the 22 |
---|
229 | 229 | | People’s Republic of China. 23 |
---|
230 | 230 | | ‘‘(G) S |
---|
231 | 231 | | ENIOR OFFICIAL.—The term ‘senior 24 |
---|
232 | 232 | | official’, when used in connection with the Gov-25 |
---|
233 | 233 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
234 | 234 | | pbinns on DSKJLVW7X2PROD with $$_JOB 9 |
---|
235 | 235 | | •HR 499 IH |
---|
236 | 236 | | ernment of the People’s Republic of China or 1 |
---|
237 | 237 | | the Communist Party of China, means— 2 |
---|
238 | 238 | | ‘‘(i) an official with the rank of a dep-3 |
---|
239 | 239 | | uty at the provincial or ministerial level 4 |
---|
240 | 240 | | (shengbu ji fu zhi) or higher; or 5 |
---|
241 | 241 | | ‘‘(ii) a chief at the bureau level (tingju 6 |
---|
242 | 242 | | ji zheng zhi) or higher. 7 |
---|
243 | 243 | | ‘‘(H) V |
---|
244 | 244 | | ARIABLE INTEREST ENTITY .—The 8 |
---|
245 | 245 | | term ‘variable interest entity’ means an entity 9 |
---|
246 | 246 | | where an investor has a controlling interest that 10 |
---|
247 | 247 | | is not based on holding the majority of voting 11 |
---|
248 | 248 | | rights.’’. 12 |
---|
249 | 249 | | SEC. 3. DISCLOSURES BY EXCHANGE TRADED FUNDS IN-13 |
---|
250 | 250 | | VESTING IN CHINESE COMPANIES. 14 |
---|
251 | 251 | | Section 13 of the Securities Exchange Act of 1934 15 |
---|
252 | 252 | | (15 U.S.C. 78m), as amended by section 2, is further 16 |
---|
253 | 253 | | amended by adding at the end the following: 17 |
---|
254 | 254 | | ‘‘(t) D |
---|
255 | 255 | | ISCLOSURES BYEXCHANGETRADEDFUNDS 18 |
---|
256 | 256 | | I |
---|
257 | 257 | | NVESTING INCHINESECOMPANIES.— 19 |
---|
258 | 258 | | ‘‘(1) I |
---|
259 | 259 | | N GENERAL.—Each exchange traded fund 20 |
---|
260 | 260 | | required to file an annual report under section 13(a) 21 |
---|
261 | 261 | | or 15(d) shall, if the fund invested in the securities 22 |
---|
262 | 262 | | of any PRC company during the reporting period, 23 |
---|
263 | 263 | | include in such report the following, with respect to 24 |
---|
264 | 264 | | each such PRC company: 25 |
---|
265 | 265 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
266 | 266 | | pbinns on DSKJLVW7X2PROD with $$_JOB 10 |
---|
267 | 267 | | •HR 499 IH |
---|
268 | 268 | | ‘‘(A) Who owns the company, including 1 |
---|
269 | 269 | | whether the company is owned by the Govern-2 |
---|
270 | 270 | | ment of the People’s Republic of China or a 3 |
---|
271 | 271 | | PRC state-controlled entity. 4 |
---|
272 | 272 | | ‘‘(B) Whether the company operates a 5 |
---|
273 | 273 | | Communist Party of China branch or com-6 |
---|
274 | 274 | | mittee within the company’s corporate struc-7 |
---|
275 | 275 | | ture. 8 |
---|
276 | 276 | | ‘‘(C) Whether the company has any con-9 |
---|
277 | 277 | | tractual agreements with the Government of the 10 |
---|
278 | 278 | | People’s Republic of China or the Communist 11 |
---|
279 | 279 | | Party of China or any agency or instrumen-12 |
---|
280 | 280 | | tality of either. 13 |
---|
281 | 281 | | ‘‘(D) Whether the company has partici-14 |
---|
282 | 282 | | pated in the PRC’s industrial policies or has 15 |
---|
283 | 283 | | military or public security contracts. 16 |
---|
284 | 284 | | ‘‘(E) Whether any funding, direction, or 17 |
---|
285 | 285 | | other forms of control over the company are ex-18 |
---|
286 | 286 | | ercised by the Government of the People’s Re-19 |
---|
287 | 287 | | public of China or the Communist Party of 20 |
---|
288 | 288 | | China. 21 |
---|
289 | 289 | | ‘‘(F) Whether executive-level employees 22 |
---|
290 | 290 | | and board members of the company have imme-23 |
---|
291 | 291 | | diate family members who are senior officials of 24 |
---|
292 | 292 | | the Communist Party of China or the Govern-25 |
---|
293 | 293 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
294 | 294 | | pbinns on DSKJLVW7X2PROD with $$_JOB 11 |
---|
295 | 295 | | •HR 499 IH |
---|
296 | 296 | | ment of the People’s Republic of China or are 1 |
---|
297 | 297 | | themselves senior officials of the Communist 2 |
---|
298 | 298 | | Party of China or the Government of the Peo-3 |
---|
299 | 299 | | ple’s Republic of China. 4 |
---|
300 | 300 | | ‘‘(G) Whether the company is part of (in-5 |
---|
301 | 301 | | cluding by reason of being a branch or sub-6 |
---|
302 | 302 | | sidiary) or tied to (through a series of contracts 7 |
---|
303 | 303 | | or parallel corporate incorporations) firms or 8 |
---|
304 | 304 | | individuals sanctioned, restricted, or identified 9 |
---|
305 | 305 | | as tied to the People’s Liberation Army by the 10 |
---|
306 | 306 | | United States Government, including under— 11 |
---|
307 | 307 | | ‘‘(i) the Military End User List main-12 |
---|
308 | 308 | | tained by the Bureau of Industry and Se-13 |
---|
309 | 309 | | curity of the Department of Commerce; 14 |
---|
310 | 310 | | ‘‘(ii) the Non-SDN Chinese Military- 15 |
---|
311 | 311 | | Industrial Complex Companies List; 16 |
---|
312 | 312 | | ‘‘(iii) the Unverified List maintained 17 |
---|
313 | 313 | | by the Secretary of Commerce; 18 |
---|
314 | 314 | | ‘‘(iv) the List maintained by the Fed-19 |
---|
315 | 315 | | eral Communications Commission of equip-20 |
---|
316 | 316 | | ment and services covered by section 2 of 21 |
---|
317 | 317 | | the Secure and Trusted Communications 22 |
---|
318 | 318 | | Networks Act of 2019 (47 U.S.C. 1601); 23 |
---|
319 | 319 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00011 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
320 | 320 | | pbinns on DSKJLVW7X2PROD with $$_JOB 12 |
---|
321 | 321 | | •HR 499 IH |
---|
322 | 322 | | ‘‘(v) the Uyghur Forced Labor Pre-1 |
---|
323 | 323 | | vention Act Entity List maintained by the 2 |
---|
324 | 324 | | Department of Homeland Security; 3 |
---|
325 | 325 | | ‘‘(vi) the list of covered issuers subject 4 |
---|
326 | 326 | | to a prohibition under section 104 of the 5 |
---|
327 | 327 | | Sarbanes-Oxley Act of 2002 (15 U.S.C. 6 |
---|
328 | 328 | | 7214) maintained by the Securities and 7 |
---|
329 | 329 | | Exchange Commission; and 8 |
---|
330 | 330 | | ‘‘(vii) the Withhold Release Orders 9 |
---|
331 | 331 | | and Findings List maintained by the Com-10 |
---|
332 | 332 | | missioner of U.S. Customs and Border 11 |
---|
333 | 333 | | Protection. 12 |
---|
334 | 334 | | ‘‘(H) The types of products and services 13 |
---|
335 | 335 | | offered by the company. 14 |
---|
336 | 336 | | ‘‘(I) Whether the company has a contract 15 |
---|
337 | 337 | | with the United States Department of Defense. 16 |
---|
338 | 338 | | ‘‘(J) Whether the company produces a 17 |
---|
339 | 339 | | product or service that is used in the produc-18 |
---|
340 | 340 | | tion of aircraft, spacecraft, semiconductor chips 19 |
---|
341 | 341 | | and equipment, batteries or battery compo-20 |
---|
342 | 342 | | nents, facial recognition technology, artificial 21 |
---|
343 | 343 | | intelligence, telecommunications technology, en-22 |
---|
344 | 344 | | ergy production equipment, advanced medical 23 |
---|
345 | 345 | | devices, or pharmaceuticals or any such prod-24 |
---|
346 | 346 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
347 | 347 | | pbinns on DSKJLVW7X2PROD with $$_JOB 13 |
---|
348 | 348 | | •HR 499 IH |
---|
349 | 349 | | ucts related to the national technology and in-1 |
---|
350 | 350 | | dustrial base in the United States. 2 |
---|
351 | 351 | | ‘‘(K) Whether the company produces goods 3 |
---|
352 | 352 | | that would violate U.S. environmental law or 4 |
---|
353 | 353 | | U.S. civil liberties law if the goods were pro-5 |
---|
354 | 354 | | duced or used in the United States. 6 |
---|
355 | 355 | | ‘‘(L) Any business activities conducted by 7 |
---|
356 | 356 | | the company— 8 |
---|
357 | 357 | | ‘‘(i) with a privately held firm involved 9 |
---|
358 | 358 | | in China’s industrial, technology, and mili-10 |
---|
359 | 359 | | tary modernization efforts based in the 11 |
---|
360 | 360 | | People’s Republic of China; or 12 |
---|
361 | 361 | | ‘‘(ii) with a Chinese state-controlled 13 |
---|
362 | 362 | | entity. 14 |
---|
363 | 363 | | ‘‘(M) Whether the company has ever had 15 |
---|
364 | 364 | | an audit of the same type and quality as typi-16 |
---|
365 | 365 | | cally used by an issuer of publicly traded securi-17 |
---|
366 | 366 | | ties. 18 |
---|
367 | 367 | | ‘‘(2) D |
---|
368 | 368 | | EFINITIONS.—In this subsection: 19 |
---|
369 | 369 | | ‘‘(A) E |
---|
370 | 370 | | XCHANGE TRADED FUND .—The 20 |
---|
371 | 371 | | term ‘exchange traded fund’ has the meaning 21 |
---|
372 | 372 | | given that term under section 270.6c–11 of title 22 |
---|
373 | 373 | | 17, Code of Federal Regulations. 23 |
---|
374 | 374 | | ‘‘(B) O |
---|
375 | 375 | | THER DEFINITIONS .—The terms 24 |
---|
376 | 376 | | ‘Communist Party of China’, ‘Government of 25 |
---|
377 | 377 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00013 Fmt 6652 Sfmt 6201 E:\BILLS\H499.IH H499 |
---|
378 | 378 | | pbinns on DSKJLVW7X2PROD with $$_JOB 14 |
---|
379 | 379 | | •HR 499 IH |
---|
380 | 380 | | the People’s Republic of China’, ‘immediate 1 |
---|
381 | 381 | | family member’, and ‘PRC’ have the meaning 2 |
---|
382 | 382 | | given those terms, respectively, under sub-3 |
---|
383 | 383 | | section (s)(2).’’. 4 |
---|
384 | 384 | | Æ |
---|
385 | 385 | | VerDate Sep 11 2014 03:45 Mar 09, 2023 Jkt 039200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6301 E:\BILLS\H499.IH H499 |
---|
386 | 386 | | pbinns on DSKJLVW7X2PROD with $$_JOB |
---|