Us Congress 2025-2026 Regular Session

Us Congress Senate Bill SB1359 Compare Versions

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

Old	New	Differences
1	1	II
2	2	119THCONGRESS
3	3	1
4	4	STSESSION S. 1359
5	5	To prohibit securities investments that finance certain companies of the Peo-
6	6	ple’s Republic of China and to expand the Non-Specially Designated
7	7	Nationals Chinese Military-Industrial Complex Companies List of the
8	8	Office of Foreign Assets Control, and for other purposes.
9	9	IN THE SENATE OF THE UNITED STATES
10	10	APRIL8, 2025
11	11	Mr. S
12	12	COTTof Florida (for himself, Mrs. BLACKBURN, and Mrs. HYDE-SMITH)
13	13	introduced the following bill; which was read twice and referred to the
14	14	Committee on Banking, Housing, and Urban Affairs
15	15	A BILL
16	16	To prohibit securities investments that finance certain com-
17	17	panies of the People’s Republic of China and to expand
18	18	the Non-Specially Designated Nationals Chinese Military-
19	19	Industrial Complex Companies List of the Office of For-
20	20	eign Assets Control, and for other purposes.
21	21	Be it enacted by the Senate and House of Representa-1
22	22	tives of the United States of America in Congress assembled, 2
23	23	SECTION 1. SHORT TITLE. 3
24	24	This Act may be cited as the ‘‘Sanction Transactions 4
25	25	Originating from Pernicious Chinese Companies and Poli-5
26	26	cies Act of 2025’’ or the ‘‘STOP CCP Act of 2025’’. 6
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29	29	•S 1359 IS
30	30	SEC. 2. DEFINITIONS. 1
31	31	In this Act: 2
32	32	(1) C
33	33	HINESE ENTITY.—The term ‘‘Chinese en-3
34	34	tity’’ means an entity organized under the laws of 4
35	35	the People’s Republic of China or otherwise subject 5
36	36	to the jurisdiction of the Government of the People’s 6
37	37	Republic of China. 7
38	38	(2) P
39	39	UBLICLY TRADED SECURITIES .—The term 8
40	40	‘‘publicly traded securities’’ includes— 9
41	41	(A) any security (as defined in section 3(a) 10
42	42	of the Securities Exchange Act of 1934 (15 11
43	43	U.S.C. 78c(a))) denominated in any currency 12
44	44	that trades on a securities exchange, or through 13
45	45	the method of trading that is commonly re-14
46	46	ferred to as ‘‘over-the-counter’’, in any jurisdic-15
47	47	tion; and 16
48	48	(B) any security that is derivative of or de-17
49	49	signed to provide investment exposure to a se-18
50	50	curity described in subparagraph (A). 19
51	51	(3) U
52	52	NITED STATES PERSON .—The term 20
53	53	‘‘United States person’’ means— 21
54	54	(A) an individual who is a United States 22
55	55	citizen or an alien lawfully admitted for perma-23
56	56	nent residence to the United States; 24
57	57	(B) an entity organized under the laws of 25
58	58	the United States or any jurisdiction within the 26
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61	61	•S 1359 IS
62	62	United States, including a foreign branch of 1
63	63	such an entity; or 2
64	64	(C) any person in the United States. 3
65	65	SEC. 3. PROHIBITION ON SECURITIES INVESTMENTS THAT 4
66	66	FINANCE CERTAIN COMPANIES OF THE PEO-5
67	67	PLE’S REPUBLIC OF CHINA. 6
68	68	The following activities by a United States person are 7
69	69	prohibited: 8
70	70	(1) The purchase or sale of any publicly traded 9
71	71	securities, or any publicly traded securities that are 10
72	72	derivative of such securities or are designed to pro-11
73	73	vide investment exposure to such securities, issued 12
74	74	by any person determined by the Secretary of the 13
75	75	Treasury, in consultation with the Secretary of 14
76	76	State, and, as the Secretary of the Treasury deems 15
77	77	appropriate, the Secretary of Defense— 16
78	78	(A) to operate or have operated in the de-17
79	79	fense and related materiel sector or the surveil-18
80	80	lance technology sector of the economy of the 19
81	81	People’s Republic of China; or 20
82	82	(B) to own or control, or to be owned or 21
83	83	controlled by, directly or indirectly, a person de-22
84	84	scribed in subparagraph (A). 23
85	85	(2) The execution, support, or servicing of a 24
86	86	purchase or sale described in paragraph (1). 25
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89	89	•S 1359 IS
90	90	(3) Any transaction that evades or avoids, has 1
91	91	the purpose of evading or avoiding, causes a viola-2
92	92	tion of, or attempts to violate the prohibition under 3
93	93	paragraph (1). 4
94	94	(4) Any conspiracy formed to violate the prohi-5
95	95	bition under paragraph (1). 6
96	96	SEC. 4. EXPANSION OF NON-SPECIALLY DESIGNATED NA-7
97	97	TIONALS CHINESE MILITARY-INDUSTRIAL 8
98	98	COMPLEX COMPANIES LIST. 9
99	99	Not later than 180 days after the date of the enact-10
100	100	ment of this Act, the Secretary of the Treasury shall pre-11
101	101	scribe regulations to expand the Non-Specially Designated 12
102	102	Nationals Chinese Military-Industrial Complex Companies 13
103	103	List (commonly referred to as the ‘‘NS–CMIC List’’) of 14
104	104	the Office of Foreign Assets Control to include— 15
105	105	(1) any entity engaged in supporting the Chi-16
106	106	nese military-industrial complex; 17
107	107	(2) any entity that is owned or controlled by an 18
108	108	entity described in paragraph (1); 19
109	109	(3) any entity that is formed from a spin-off, 20
110	110	merger or acquisition, or sale of a business unit in-21
111	111	volving an entity described in paragraph (1) or is 22
112	112	otherwise a successor to such an entity; and 23
113	113	(4) any entity that provides financial services 24
114	114	for an entity described in paragraph (1), (2), or (3). 25
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117	117	•S 1359 IS
118	118	SEC. 5. CLOSING SANCTIONS LOOPHOLES. 1
119	119	(a) I
120	120	NGENERAL.—If sanctions are imposed with re-2
121	121	spect to a Chinese entity under any statute or executive 3
122	122	order described in subsection (b), sanctions shall be im-4
123	123	posed with respect to the Chinese entity under each other 5
124	124	applicable statute and executive order described in sub-6
125	125	section (b) unless— 7
126	126	(1) the President waives the imposition of such 8
127	127	sanctions; or 9
128	128	(2) a waiver provided for under such other stat-10
129	129	ute or executive order applies. 11
130	130	(b) S
131	131	TATUTES AND EXECUTIVEORDERSDE-12
132	132	SCRIBED.—A statute or executive order described in this 13
133	133	subsection is a statute or executive order that provides for 14
134	134	the imposition of sanctions. 15
135	135	(c) N
136	136	ATIONALSECURITYWAIVER.— 16
137	137	(1) I
138	138	N GENERAL.—The President may waive 17
139	139	the application of any sanction imposed with respect 18
140	140	to any person under subsection (a) if the President 19
141	141	determines and certifies to Congress that such a 20
142	142	waiver is important to the national security interests 21
143	143	of the United States. 22
144	144	(2) N
145	145	OTIFICATION OF AND REPORT TO CON -23
146	146	GRESS.—If the President decides to exercise the 24
147	147	waiver authority provided under paragraph (1), the 25
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150	150	•S 1359 IS
151	151	President shall, not less than 20 days before the 1
152	152	waiver takes effect, submit to Congress a report— 2
153	153	(A) notifying Congress of the decision to 3
154	154	exercise the waiver authority; and 4
155	155	(B) fully articulating the rationale and cir-5
156	156	cumstances that led to the decision. 6
157	157	(d) T
158	158	ERMINATION OFSANCTIONSTOBEREPORTED 7
159	159	TOCONGRESS.—Not later than 20 days after the termi-8
160	160	nation of any sanction under subsection (a), the President 9
161	161	shall promptly submit to Congress a report on that termi-10
162	162	nation and the reasons for the termination. 11
163	163	Æ
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