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House Bill 554
118th Congress(2023-2024)
Taiwan Conflict Deterrence Act of 2023
Active
Active
Passed House on Sep 9, 2024
Overview
Text
Introduced
Jan 26, 2023
Latest Action
Sep 10, 2024
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
554
Congress
118
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
French Hill
Arkansas
Democrat
Brad Sherman
California
Republican
Young Kim
California
Republican
Ann Wagner
Missouri
Democrat
Susie Lee
Nevada
Democrat
Chris Pappas
New Hampshire
Republican
Michael Lawler
New York
Democrat
Patrick Ryan
New York
Republican
Monica De La Cruz
Texas
House Votes (1)
Senate Votes (0)
checkPassed on September 9, 2024
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
Summary

Taiwan Conflict Deterrence Act of 2023

This bill requires additional reporting regarding the domestic and foreign financial activity of specified Chinese officials.

Specifically, the bill requires the Department of the Treasury, upon a determination by the President that a threat to the interests of the United States exists resulting from actions by China, to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds.

The bill also allows Treasury to prohibit significant transactions between U.S. financial institutions and these individuals.

Text (4)
Referred in Senate
September 10, 2024
Engrossed in House
September 9, 2024
Reported in House
December 1, 2023
Introduced in House
January 26, 2023
Actions (13)
09/10/2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
09/09/2024
Motion to reconsider laid on the table Agreed to without objection.
09/09/2024
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
09/09/2024
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
09/09/2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 554.
09/09/2024
Considered under suspension of the rules. (consideration: CR H5042-5046)
09/09/2024
Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
12/01/2023
Placed on the Union Calendar, Calendar No. 236.
12/01/2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.
02/28/2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.
02/28/2023
Committee Consideration and Mark-up Session Held.
01/26/2023
Referred to the House Committee on Financial Services.
01/26/2023
Introduced in House
Graphics
H.R.554 118 Taiwan Conflict Deterrence Act of 2023
How Graphics are created
Public Record
Record Updated
Nov 8, 2024 7:26:59 PM
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