(a) Short title.—This Act may be cited as the “Countering Communist China Act”.

(b) Table of contents.—The table of contents of this Act is as follows:

Congress finds the following:

If any provision of this Act, or an amendment made by this Act, or the application of such provision or amendment to any person or circumstance, is held to be invalid, the remainder of this Act, the amendments made by this Act, and the application of such provision and amendments to other persons or circumstances, shall not be affected.

(a) Short title.—This section may be cited as the “Preventing Adversaries from Developing Critical Capabilities Act”.

(b) Exercise of authorities under the international emergency economic powers act.—

(1) IN GENERAL.—The President may exercise all authorities provided under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) necessary to carry out the provisions of this section, including authorities to impose penalties under section 206 of such Act.

(2) DELEGATION.—The President may delegate the authorities described in paragraph (1) to the head of any Federal agency the President determines appropriate in order to carry out the provisions of this section.

(c) Prohibition on covered activities in covered sectors that pose particularly acute threats to united states national security.—

(1) IDENTIFICATION OF CATEGORIES OF TECHNOLOGIES AND PRODUCTS.—

(A) IN GENERAL.—Not later than one year after the date of the enactment of this Act, and annually thereafter as described in subparagraph (B), the President—

(i) shall identify categories of technologies and products in covered sectors that may pose a particularly acute threat to the national security of the United States if developed or acquired by a country of concern; and

(ii) publish a list of the categories of technologies and products identified under subparagraph (A) in the Federal Register.

(B) UPDATES.—The President shall annually review and update the list of the categories of technologies and products identified under subparagraph (A)(i) and update the Federal Register under subparagraph (A)(ii) as appropriate.

(2) PROHIBITION ON COVERED ACTIVITIES.—The President shall, on or after the date on which the initial list of categories of technologies and products is published in the Federal Register pursuant to paragraph (1)(A)(ii), prescribe, subject to public notice and comment, regulations to prohibit a United States person from engaging, directly or indirectly, in a covered activity involving a category of technologies and products on such list of categories of technologies and products in a covered sector. Such regulations should—

(A) require that a United States person take all reasonable steps to prohibit and prevent any transaction by a foreign entity under the control of the United States person that would be a prohibited transaction if engaged in by a United States person; and

(B) exclude any transaction consisting of the acquisition of an equity or other interest in an entity located outside a country of concern, where the President has determined that the government of the country in which that entity is established or has its principal place of business has in place a program for the restriction of certain activities involving countries of concern that is comparable to the provisions provided for in this Act.

(3) SENSE OF CONGRESS.—It is the sense of Congress that the covered sectors include certain categories of technologies and products that would pose a particularly acute threat to the national security of the United States if developed or acquired by a country of concern, and that the President should identify certain technologies and products in the covered sectors as categories of technologies and products in covered sectors for purposes of paragraph (1)(A).

(d) Mandatory notification of covered activities in covered sectors that may pose threats to united states national security.—

(1) IDENTIFICATION OF CATEGORIES OF TECHNOLOGIES AND PRODUCTS.—Not later than one year after the date of the enactment of this Act, the President shall—

(A) identify categories of technologies and products in covered sectors that may pose a threat to the national security of the United States if developed or acquired by a country of concern;

(B) publish a list of the categories of technologies and products identified under subparagraph (A) in the Federal Register; and

(C) annually thereafter, review the categories of technologies and products identified under subparagraph (A) and publish an updated list of the categories of technologies and products in the Federal Register under subparagraph (B) if the list identified in subparagraph (B) has changed.

(2) MANDATORY NOTIFICATION.—

(A) IN GENERAL.—Beginning on the date that is 90 days after the date on which the initial list of categories of technologies and products is published in the Federal Register pursuant to paragraph (1)(B), a United States person engaging in a covered activity involving a category identified in paragraph (1)(A), or controlling a foreign entity engaging in an activity that would be a covered activity if engaged in by a United States person, shall submit to the President a complete written notification of the activity not later than 14 days after the completion date of the activity.

(B) CIRCULATION OF NOTIFICATION.—

(i) IN GENERAL.—The President shall, upon receipt of a notification under subparagraph (A), promptly inspect the notification for completeness.

(ii) INCOMPLETE NOTIFICATION.—If a notification submitted under subparagraph (A) is incomplete, the President shall promptly inform the United States person that submits the notification that the notification is not complete and provide an explanation for relevant material respect in which the notification is not complete.

(C) IDENTIFICATION OF NON-NOTIFIED ACTIVITY.—The President shall establish a process to identify a covered activity involving a category identified under paragraph (1)(A) for which—

(i) a notification is not submitted to the President under subparagraph (A); and

(ii) information is reasonably available.

(3) CONFIDENTIALITY OF INFORMATION.—

(A) IN GENERAL.—Except as provided in subparagraph (B), any information or documentary material filed with the President pursuant to this section shall be exempt from disclosure under section 552(b)(3) of title 5, United States Code, and no such information or documentary material may be made public by any government agency or Member of Congress.

(B) EXCEPTIONS.—Subject to appropriate confidentiality and classification requirements, the exemption from disclosure provided by subparagraph (A) shall not prevent the disclosure of the following:

(i) Information relevant to any administrative or judicial action or proceeding.

(ii) Information provided to Congress or any of the appropriate congressional committees.

(iii) Information important to national security analysis or actions of the President to any domestic government entity, or to any foreign governmental entity of an ally or partner of the United States, under the direction and authorization of the President, only to the extent necessary for national security purposes.

(iv) Information that the parties have consented to be disclosed to third parties.

(e) Reporting requirements.—

(1) IN GENERAL.—Not later than one year after the date on which the regulations prescribed under subsection (f) take effect, and not less frequently than annually thereafter, the President shall submit to the appropriate congressional committees a report that—

(A) lists all notifications submitted under subsection (d)(2) during the year preceding submission of the report, disaggregated by—

(i) sector;

(ii) covered activity;

(iii) covered foreign entity; and

(iv) country of concern;

(B) an assessment of whether to amend the regulations, including whether to amend the definition of “covered sectors” to enhance national security;

(C) provides additional context and information regarding trends in the sectors, the types of covered activity, and the countries involved in those notifications, including—

(i) the location of the relevant covered foreign entities; and

(ii) the country in which the United States person or foreign entity controlled by such United States person involved in the relevant covered activity is located; and

(D) assesses the overall impact of those notifications, including recommendations for—

(i) expanding existing Federal programs to support the production or supply of covered sectors in the United States, including the potential of existing authorities to address any related national security concerns; and

(ii) the continuation, expansion, or modification of the implementation and administration of this section.

(2) FORM.—Each report required by this section shall be submitted in unclassified form, but may include a classified annex.

(3) PROHIBITION ON DISCLOSURE.—Information contained in each report required by this section may be withheld from disclosure only to the extent otherwise permitted by statute, except that all information included pursuant to paragraph (1)(A) shall be withheld from public disclosure.

(f) Requirement for regulations.—

(1) IN GENERAL.—Not later than 180 days after the date on which the initial list of categories of technologies and products have been published in the Federal Register pursuant to sections (c)(1)(A)(i) and (d)(1)(B), the President shall prescribe and finalize proposed regulations to carry out this Act.

(2) ELEMENTS.—Regulations prescribed to carry out this section shall specify—

(A) the types of activities that will be considered to be covered activities;

(B) the technologies and products in covered sectors with respect to which covered activities are prohibited under subsection (c)(2) or require a notification under subsection (d)(2); and

(C) a process by which parties can ask questions and get timely guidance as to whether a covered activity is prohibited under subsection (c)(2) or requires a notification under subsection (d)(2).

(3) REQUIREMENTS FOR CERTAIN REGULATIONS.—The President shall prescribe regulations further defining the terms used in this Act, including the terms “covered activity”, “covered foreign entity”, and “party”, to maximize the effectiveness of carrying out this Act in accordance with subchapter II of chapter 5 and chapter 7 of title 5 (commonly known as the “Administrative Procedure Act”).

(4) PUBLIC NOTICE AND COMMENT.—Regulations issued pursuant to paragraph (1) shall be subject to public notice and comment.

(5) LOW-BURDEN REGULATIONS.—In prescribing regulations under this section, the President shall, to the extent practicable, structure the regulations—

(A) to minimize the cost and complexity of compliance for affected parties;

(B) to ensure the benefits of the regulations outweigh their costs;

(C) to adopt the least burdensome alternative that achieves regulatory objectives;

(D) to prioritize transparency and stakeholder involvement in the process of prescribing the regulations; and

(E) to regularly review and streamline existing regulations promulgated pursuant to this Act to reduce redundancy and complexity.

(6) PENALTIES WITH RESPECT TO UNLAWFUL ACTS.—Regulations issued under this section shall, consistent with the authority provided by subsection (b)(1), provide for the imposition of civil penalties for violations of this section, that involve—

(A) engaging in a covered activity prohibited under subsection (c)(2) pursuant to the regulations issued under this section;

(B) failing to submit a timely notification under subsection (d)(2) with respect to a covered activity or to submit other information as required by the designated agency; or

(C) submitting a material misstatement or omitting a material fact in any information submitted in a notification under subsection (d)(2).

(7) ENFORCEMENT.—Consistent with the authority provided by subsection (b)(1), the President may direct the Attorney General to seek appropriate relief in the district courts of the United States, in order to implement and enforce this Act.

(8) CONGRESSIONAL NOTIFICATION.—The President shall submit to the appropriate congressional committees all regulations prescribed to carry out this Act not later than 30 days before such regulations are to take effect.

(g) Multilateral engagement and coordination.—

(1) IN GENERAL.—The President shall delegate the authorities and functions under this section to the Secretary of State.

(2) AUTHORITIES.—The Secretary of State, in coordination with the heads or other relevant Federal agencies, should—

(A) conduct bilateral and multilateral engagement with the governments of countries that are allies and partners of the United States to promote and increase coordination of protocols and procedures to facilitate the effective implementation of and appropriate compliance with the prohibitions and notifications pursuant to this Act;

(B) upon adoption of protocols and procedures described in subparagraph (A), work with those governments to establish mechanisms for sharing information, including trends, with respect to such activities; and

(C) work with and encourage the governments of countries that are allies and partners of the United States to develop similar mechanisms of their own.

(3) STRATEGY FOR MULTILATERAL ENGAGEMENT AND COORDINATION.—Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in coordination with the heads of other relevant Federal agencies, should—

(A) develop a strategy to work with the governments of countries that are allies and partners of the United States to develop mechanisms that are comparable to the prohibitions and notifications pursuant to this Act; and

(B) assess opportunities to provide technical assistance to those countries with respect to the development of those mechanisms.

(4) REPORT.—Not later than one year after the date of the enactment of this Act, and annually thereafter for 4 years, the Secretary of State shall submit to the appropriate congressional committees a report that includes—

(A) a discussion of any strategy developed pursuant to paragraph (3)(A), including key tools and objectives for the development of comparable mechanisms by the governments of allies and partners of the United States;

(B) a list of partner and allied countries to target for cooperation in developing their own screening programs;

(C) the status of the strategy’s implementation and outcomes; and

(D) a description of impediments to the establishment of comparable mechanisms by governments of allies and partners of the United States.

(h) Authorization of appropriations.—

(1) IN GENERAL.—There is authorized to be appropriated $25,000,000, to be derived from amounts otherwise authorized to be appropriated to the President, for each of the first two fiscal years beginning on or after the date of the enactment of this Act, to carry out this Act, including to provide outreach to industry and persons affected by this Act.

(2) HIRING AUTHORITY.—

(A) PRESIDENT.—The President may appoint, without regard to the provisions of sections 3309 through 3318 of title 5, United States Code, not more than 15 candidates directly to positions in the competitive service (as defined in section 2102 of that title).

(B) AGENCY.—The head of the Federal department or agency designated under subsection (c)(2) to hold primary responsibility for administering this Act may appoint, without regard to the provisions of sections 3309 through 3318 of title 5, United States Code, not fewer than 25 candidates directly to positions in the competitive service (as defined in section 2102 of that title) of such department or agency.

(C) PRIMARY RESPONSIBILITY.—The primary responsibility of individuals in positions authorized to be hired under this subsection shall be to administer this Act.

(i) Rule of construction.—Nothing in this Act may be construed to—

(1) restrain or deter United States activities abroad if such activities do not pose a risk to the national security of the United States; or

(2) alter or negate the authority of the President under any authority, process, regulation, investigation, enforcement measure, or review provided by or established under any other provision of Federal law, or any other authority of the President or the Congress under the Constitution of the United States.

(j) National interest waiver.—

(1) IN GENERAL.—Subject to paragraph (2), the President is authorized to exempt from any applicable prohibition or notification requirement any activity determined by the President, in consultation with the heads of relevant Federal agencies, as appropriate, to be in the national interest of the United States.

(2) CONGRESSIONAL NOTIFICATION.—The President shall—

(A) notify the appropriate congressional committees not later than 48 hours after issuing a waiver under paragraph (1); and

(B) include in such notification an identification of the national interest justifying the use of the waiver.

(k) Definitions.—In this Act:

(1) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term “appropriate congressional committees” means—

(A) the Committee on Foreign Affairs, the Committee on Financial Services, the Committee on Ways and Means, the Committee on Appropriations, and the Permanent Select Committee on Intelligence of the House of Representatives; and

(B) the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on Appropriations, and the Select Committee on Intelligence of the Senate.

(2) COUNTRY OF CONCERN.—The term “country of concern”—

(A) means—

(i) the Democratic People’s Republic of North Korea;

(ii) the People’s Republic of China, including the Hong Kong Special Administrative Region and the Macau Special Administrative Region;

(iii) the Russian Federation; and

(iv) the Islamic Republic of Iran; and

(B) includes any other country the President determines necessary to ensure a country specified in clause (i), (ii), (iii), or (iv) of subparagraph (A) is unable to circumvent the provisions of this Act and the regulations issued pursuant to this Act.

(3) COVERED ACTIVITY.—

(A) IN GENERAL.—Subject to such regulations as may be prescribed in accordance with subsection (g), and except as provided in subparagraph (B), the term “covered activity” means any activity engaged in by a United States person that involves—

(i) an acquisition by such United States person of an equity interest or contingent equity interest, or monetary capital contribution, in a covered foreign entity, directly or indirectly, by contractual commitment or otherwise, with the goal of generating income or gain;

(ii) an arrangement for an interest held by such United States person in the short- or long-term debt obligations of a covered foreign entity that includes governance rights that are characteristic of an equity investment, management, or other important rights;

(iii) the establishment of a wholly owned subsidiary in a country of concern, such as a greenfield investment, for the purpose of production, design, testing, manufacturing, fabrication, or development related to one or more covered sectors;

(iv) the establishment by such United States person of a joint venture in a country of concern or with a covered foreign entity for the purpose of production, design, testing, manufacturing, fabrication, or research, or other contractual or other commitments involving a covered foreign entity to jointly research and develop new innovation, including through the transfer of capital or intellectual property or other business proprietary information; or

(v) the acquisition by a United States person with a covered foreign entity of—

(I) operational cooperation, such as through supply or support arrangements;

(II) the right to board representation (as an observer, even if limited, or as a member) or an executive role (as may be defined through regulation) in a covered foreign entity;

(III) the ability to direct or influence such operational decisions as may be defined through such regulations;

(IV) formal governance representation in any operating affiliate, such as a portfolio company, of a covered foreign entity; or

(V) a new relationship to share or provide business services, such as financial services, marketing services, maintenance, or assembly functions; or

(vi) knowingly directing transactions by foreign persons that would constitute covered activity if engaged in by a United States person.

(B) EXCEPTIONS.—The term “covered activity” does not include—

(i) any transaction the value of which the President determines is de minimis, as defined in regulations prescribed in accordance with subsection (f);

(ii) any category of transactions that the President determines is in the national interest of the United States, as may be defined in regulations prescribed in accordance with subsection (f);

(iii) an investment in—

(I) a publicly traded security (as such term is defined in section 3(a)(10) of the Securities Exchange Act of 1934);

(II) an index fund, mutual fund, exchange-traded fund, or a similar instrument (including associated derivatives) offered by an investment company (as such term is defined in section 3(a)(1) of the Investment Company Act of 1940), or by a private investment fund; or

(III) a venture capital fund, private equity fund, fund of funds, or other pooled investment funds, as the limited partner, in each case in which the limited partner’s contribution is solely capital in a limited partnership structure and—

(aa) the limited partner cannot make managerial decisions, is not responsible for any debts beyond its investment, and does not have the ability (formally or informally) to influence or participate in the fund’s or a covered foreign entity’s decision making or operations; and

(bb) the investment is below a de minimis threshold to be determined by the President;

(iv) the acquisition of the equity or other interest owned or held by a covered foreign entity in an entity or assets located outside of a country of concern in which the United States person is acquiring all interests in the entity or assets held by covered foreign entity;

(v) an intracompany transfer of funds from a United States parent company to a subsidiary located in a country of concern;

(vi) a transaction made pursuant to a binding, uncalled capital commitment entered into before the date on which the regulations prescribed in accordance with section 6 take effect; or

(vii) any ordinary or administrative business transaction as may be defined in such regulations.

(4) COVERED FOREIGN ENTITY.—Subject to regulations prescribed in accordance with subsection (f), the term “covered foreign entity” means the following:

(A) Any entity that is incorporated in, has a principal place of business in, or is organized under the laws of a country of concern.

(B) Any entity the equity securities of which are traded in the ordinary course of business on one or more exchanges in a country of concern.

(C) Any agency or instrumentality of the government of a country of concern.

(D) Any other entity that is not a United States person and that meets such criteria as may be specified by the President in such regulations prescribed in accordance with subsection (f).

(5) COVERED SECTORS.—Subject to regulations prescribed in accordance with subsection (f), the term “covered sectors” includes sectors within the following areas:

(A) Semiconductors and microelectronics.

(B) Artificial intelligence.

(C) Quantum information science and technology.

(D) Hypersonics.

(E) High-performance computing and supercomputing.

(F) Biotechnology.

(G) Satellite communication.

(6) PARTY.—The term “party”, with respect to an activity, has the meaning given that term in regulations prescribed in accordance with subsection (g).

(7) UNITED STATES PERSON.—The term “United States person” means—

(A) an individual who is a United States citizen or an alien lawfully admitted for permanent residence to the United States; or

(B) an entity organized under the laws of the United States or of any jurisdiction within the United States, including any foreign branch of such an entity.

(a) In general.—Not later than 180 days after the date of the enactment of this Act, the President shall impose the sanctions described in subsection (e) with respect to any foreign person determined by the Secretary of the Treasury, in consultation with the Secretary of State and, as the Secretary of the Treasury determines appropriate, the Secretary of Defense, to knowingly engage in significant operations in the defense and related materiel sector or the surveillance technology sector of the economy of the People’s Republic of China.

(b) Annual determination and report.—Not less frequently than annually, the Secretary of the Treasury shall—

(1) undertake the determination described under subsection (a) with respect to foreign persons listed in the Annex to Executive Order 14032 (as amended by any revision to such Annex); and

(2) submit a report explaining the results of the determination to the appropriate congressional committees.

(c) Assessment.—For the purpose of making the determination described under subsection (a), the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, and the Secretary of Defense, shall—

(1) assess whether, under existing authorities, sanctions should be imposed with respect to the activities of—

(A) foreign persons listed on the Military End User List (Supplement No. 7 to part 744 of the Export Administration Regulations) that are located in the People’s Republic of China;

(B) foreign persons listed by the Department of Commerce on the Denied Persons List or the Entity List (Supplement No. 4 to part 744 of the Export Administration Regulations) that are located in the People’s Republic of China; or

(C) foreign persons listed pursuant to section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (10 U.S.C. 113 note); and

(2) submit a report to the appropriate congressional committees summarizing such assessment, which shall include an explanation of why the sanctions described under subsection (e) may not be applicable to foreign persons included on the lists described under paragraph (1).

(d) Consideration of certain activities.—For the purpose of making the determination described under subsection (a), the Secretary of the Treasury may, to the extent practicable, focus particular attention on foreign persons engaging in any of the following:

(1) Artificial intelligence, machine learning, autonomy, and related advances.

(2) High-performance computing, semiconductors, and advanced computer hardware and software.

(3) Quantum information science and technology.

(4) Robotics, automation, and advanced manufacturing.

(5) Advanced communications technology and immersive technology.

(6) Biotechnology, medical technology, genomics, and synthetic biology.

(7) Data storage, data management, and cybersecurity, including biometrics.

(8) Advanced materials science, including composites and 2D materials.

(e) Sanctions described.—The President shall exercise all of the powers granted to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of a foreign person if such property and interests in property—

(1) are in the United States;

(2) come within the United States; or

(3) come within the possession or control of a United States person.

(f) Implementation.—The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this section.

(g) Penalties.—The penalties set forth in section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) apply to violations of any license, order, or regulation issued under this section.

(h) Waiver.—The President may waive the application of sanctions under this section, for renewable periods of one year, if the President certifies in writing to the appropriate congressional committees that the waiver is in the national interest of the United States, with an explanation of the reasons therefor. In lieu of the imposition of such sanctions, the President shall prohibit the purchase or sale of any publicly traded securities, or any publicly traded securities that are derivative of such securities, issued by any person with respect to which sanctions were waived.

(i) Exceptions.—

(1) INTELLIGENCE AND LAW ENFORCEMENT ACTIVITIES.—Sanctions under this section shall not apply with respect to—

(A) any activity subject to the reporting requirements under title V of the National Security Act of 1947 (50 U.S.C. 3091 et seq.); or

(B) any authorized intelligence or law enforcement activities of the United States.

(2) UNITED STATES GOVERNMENT ACTIVITIES.—Nothing in this section shall prohibit transactions for the conduct of the official business of the Federal Government by employees, grantees, or contractors thereof.

(3) HUMANITARIAN ACTIVITIES.—The President may not impose sanctions under this section with respect to any person for conducting or facilitating a transaction for the sale of agricultural commodities, food, medicine, or medical devices or for the provision of humanitarian assistance.

(j) Exception relating to importation of goods.—

(1) IN GENERAL.—The authorities and requirements to impose sanctions authorized under this section shall not include the authority or requirement to impose sanctions on the importation of goods.

(2) GOOD DEFINED.—In this subsection, the term “good” means any article, natural or manmade substance, material, supply, or manufactured product, including inspection and test equipment, and excluding technical data.

(k) Definitions.—In this section—

(1) the term “appropriate congressional committees” means—

(A) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives; and

(B) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate;

(2) the term “foreign person” means an individual or entity that is not a United States person;

(3) the term “United States person” means—

(A) a United States citizen or an alien lawfully admitted for permanent residence to the United States;

(B) an entity organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an entity; or

(C) a person in the United States; and

(4) the term “knowingly” with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.

(a) Within two years of the date of enactment of this section, the provisions of title I of Public Law 106–286 (114 Stat. 880) or any other provision of law, effective on the date of the enactment of this Act—

(1) normal trade relations treatment shall not apply pursuant to section 101 of that Act to the products of the People’s Republic of China; and

(2) following the withdrawal of normal trade relations treatment, tariff rates on products of the People’s Republic of China shall revert to those set forth under Column 2 of the Tariff Act of 1930, without prejudice to any adjustments or modifications that may be made under the law, unless Congress passes China “tariff legislation” as outlined in Sec. 104.

(a) China tariff legislation.—

(1) DEFINITIONS.—In this subsection:

(A) CHINA TARIFF LEGISLATION.—The term “China tariff legislation” means only a bill of either House of Congress—

(i) the title of which is as follows: “A bill to set tariff schedules with regards to the People’s Republic of China”;

(ii) the sole matter after the short title shall be the modifications of tariffs or duties or modification of any duty or staged rate reduction of any duty set forth in Schedule XX, as defined in section 2(5) of that Act (19 U.S.C. 3501(5)), on the People’s Republic of China; and

(iii) which may not reduce tariffs, duties, or non-tariff barriers on the People’s Republic of China below levels at which such barriers were set as of January 1, 2024.

(2) INTRODUCTION.—During the period of two years from the date of enactment of this section, China tariff legislation may be introduced—

(A) in the House of Representatives, by the majority leader or the minority leader; or the Chairman or Ranking Member of the Committee on Ways and Means; and

(B) in the Senate, by the majority leader (or the majority leader’s designee) or the minority leader (or the minority leader’s designee), or the Chairman or Ranking Member of the Committee on Finance.

(C) PROCEEDING TO CONSIDERATION.—Notwithstanding Rule XXII of the Standing Rules of the Senate, it is in order at any time after the Committee on Finance reports China tariff legislation to the Senate to move to proceed to the consideration of the China tariff legislation, and all points of order against the China tariff legislation (and against consideration of the China tariff legislation) are waived. The motion to proceed is not debatable. The motion is not subject to a motion to postpone. A motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order.

(D) RULINGS OF THE CHAIR ON PROCEDURE.—Appeals from the decisions of the Chair relating to the application of the rules of the Senate, as the case may be, to the procedure relating to China tariff legislation shall be decided without debate.

(E) CONSIDERATION OF VETO MESSAGES.—Debate in the Senate of any veto message with respect to China tariff legislation, including all debatable motions and appeals in connection with the joint resolution, shall be limited to 10 hours, to be equally divided between, and controlled by, the majority leader and the minority leader or their designees.

(3) RULES OF HOUSE OF REPRESENTATIVES AND SENATE.—This subsection is enacted by Congress—

(A) as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such is deemed a part of the rules of each House, respectively, and supersedes other rules only to the extent that it is inconsistent with such rules; and

(B) with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure of that House) at any time, in the same manner, and to the same extent as in the case of any other rule of that House.

(a) Short title.—This section may be cited as the “Protecting Americans’ Retirement Savings Act” or “PARSA”.

(b) Prohibition on investment in certain entities.—Section 404(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)) is amended by adding at the end the following:

“(3) PROHIBITION ON INVESTMENT IN CERTAIN ENTITIES.—

“(A) IN GENERAL.—For purposes of paragraph (1), a fiduciary of a plan may not be considered to act solely in the interest of the participants and beneficiaries of the plan if such fiduciary does not ensure that such plan does not engage in a transaction that the fiduciary knows, or should know, will result in the plan—

“(i) acquiring an interest (as defined in section 103(h)) between the plan and a sanctioned entity or foreign adversary entity (as each such term is defined in section 103(h));

“(ii) lending money or extending credit to such an entity;

“(iii) furnishing goods, services, or facilities to such an entity; or

“(iv) transferring, directly or indirectly, to or for use by or for the benefit of such an entity—

“(I) any assets of the plan; or

“(II) any data with respect to any participant or beneficiary of the plan.

For the purposes of subclause (II), the term ‘fiduciary’ includes any person who exercises direct or indirect discretionary authority, responsibility, or control with respect to any participant beneficiary data.

“(B) CONTINUATION OF CURRENT INVESTMENTS.—In the case of a plan holding an investment in a sanctioned entity or foreign adversary entity on the date of enactment of the Protecting Americans’ Retirement Savings Act, such plan may continue to hold such investment if the fiduciary of such plan complies with the requirements of subparagraphs (I) and (J) of section 103(b)(3).

“(C) CONTRACTUALLY OBLIGATED INVESTMENTS.—In the case of a plan that has entered into a binding agreement prior to the date of enactment of the Protecting Americans’ Retirement Savings Act obligating such plan to engage in a transaction described under subparagraph (A), if the fiduciary of such plan complies with the requirements of subparagraphs (I), (J), and (K) of section 103(b)(3), such plan may fulfill the terms of such agreement until such agreement—

“(i) expires; or

“(ii) allows for termination.”.

(c) Additional disclosures for employee retirement funds.—

(1) IN GENERAL.—Section 103(b)(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1023(b)(3)) is amended—

(A) in subparagraph (H)(iv), by striking the period at the end and inserting “; and”; and

(B) by inserting at the end the following:

“(I) a separate statement of all assets in the plan that consist, in whole or in part, of an interest in a sanctioned entity, including—

“(i) the aggregate value of such assets in the plan;

“(ii) the identity of each sanctioned entity in which such plan holds an interest; and

“(iii) information identifying each list under subsection (h)(5) on which such sanctioned entity is listed, and the reasons for which an entity may be placed on such list;

“(J) a separate statement of all assets in the plan that consist, in whole or in part, of an interest in a foreign adversary entity, including—

“(i) the aggregate value of such assets in the plan;

“(ii) the specific interest, and value thereof, that such plan holds in each such foreign adversary entity;

“(iii) the name of any investment vehicle through which the plan holds such interest;

“(iv) the name of the fiduciary responsible for such investment; and

“(v) a brief statement of factors considered by the fiduciary in maintaining such investment;

“(K) a description of any ongoing agreement subject to section 404(a)(3)(C), including—

“(i) the assets involved in such agreement;

“(ii) the date on which such agreement expires;

“(iii) the date on which such commitment may be terminated; and

“(iv) such other information as the Secretary may deem appropriate.”.

(2) DEFINITIONS.—Section 103 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1023) is further amended by adding at the end the following new subsection:

“(h) Definitions.—In this section:

“(1) CONTROL.—The term ‘control’ has the meaning given in section 800.208 of title 31, Code of Federal Regulations (as in effect on the date of enactment of this Act).

“(2) EXPORT ADMINISTRATION REGULATIONS.—The term ‘Export Administration Regulations’ means the regulations set forth in subchapter C of chapter VII of title 15, Code of Federal Regulations, or successor regulations.

“(3) FOREIGN ADVERSARY.—The term ‘foreign adversary’—

“(A) has the meaning given the term ‘covered nation’ in section 4872(d) of title 10, United States Code (as in effect on the date of enactment of this Act); and

“(B) includes any Special Administrative Region of any such covered nation.

“(4) FOREIGN ADVERSARY ENTITY.—The term ‘foreign adversary entity’ means—

“(A) any official governmental body at any level in a foreign adversary;

“(B) the armed forces of a foreign adversary;

“(C) the leading political party of a foreign adversary;

“(D) a person organized under the laws of, headquartered in, or with its principal place of business in a foreign adversary; or

“(E) a person subject to the direction or control of an entity listed in subparagraphs (A) through (D).

“(5) INTEREST.—The term ‘interest’ includes any interest—

“(A) held directly or indirectly through any chain of ownership; or

“(B) held as a derivative financial instrument or other contractual arrangement with respect to such sanctioned entity, including any financial instrument or other contract which seeks to replicate any financial return with respect to a sanctioned entity or interest in such sanctioned entity.

“(6) SANCTIONED ENTITY.—The term ‘sanctioned entity’ means an entity listed on any of the following lists:

“(A) The Non-SDN Chinese Military-Industrial Complex Companies List (NS–CMIC List) maintained by the Office of Foreign Assets Control of the Department of the Treasury under Executive Order 14032 (86 Fed. Reg. 30145), or any successor order.

“(B) The list of Chinese military companies identified by the Secretary of Defense pursuant to section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283; 10 U.S.C. 113 note).

“(C) The Entity List maintained by the Department of Commerce and set forth in Supplement No. 4 to part 744 of the Export Administration Regulations.

“(D) The Denied Persons List maintained by the Department of Commerce and described in section 764.3(a)(2) of the Export Administration Regulations.

“(E) The Unverified List set forth in Supplement No. 6 to part 744 of the Export Administration Regulations.

“(F) The Military End User List set forth in Supplement No. 7 to part 744 of the Export Administration Regulations.

“(G) The list of companies whose equipment or services are maintained by the Federal Communications Commission under section 2(a) of the Secure and Trusted Communications Networks Act of 2019 (47 U.S.C. 1601(a)), commonly referred to as the FCC Covered list.

“(H) The Uyghur Forced Labor Prevention Act Entity List maintained by the Department of Homeland Security pursuant to Public Law 117–78.

“(I) The Withhold Release Orders and Findings List maintained by the Commissioner of U.S. Customs and Border Protection pursuant to Public Law 117–78”..”.

(3) EFFECTIVE DATE.—

(A) REGULATIONS REQUIRED.—Not more than 180 days after the enactment of this Act, the Secretary shall issue regulations implementing this section.

(B) EFFECTIVE DATE OF REGULATIONS.—The regulations issued under subparagraph (A) shall take effect not later than 1 year after the date of enactment of this Act.

(d) Negotiation of a free trade agreement with taiwan, the philippines, indonesia, thailand, malaysia, new zealand, and the united kingdom.—Subject to subsection (e), the President is authorized to enter into an agreement with Taiwan, the Philippines, Indonesia, Thailand, Malaysia, New Zealand, and the United Kingdom consistent with the policy described in subsection (e), and the provisions of section 151(c) of the Trade Act of 1974 (19 U.S.C. 2191(c)) shall apply with respect to a bill to implement such agreement.

(e) Introduction and fast track consideration of implementing bill.—

(1) INTRODUCTION IN HOUSE OF REPRESENTATIVES AND SENATE.—Whenever the President submits to Congress a bill to implement a trade agreement described in subsection (d) the bill shall be introduced (by request) in the House of Representatives and in the Senate as described in section 151(c) of the Trade Act of 1974 (19 U.S.C. 2191(c)).

(2) PERMISSIBLE CONTENT IN IMPLEMENTING LEGISLATION.—A bill to implement a trade agreement described in subsection (d) shall contain provisions that are necessary to implement the trade agreement, and shall include trade-related labor and environmental protection standards, but may not include amendments to title VII of the Tariff Act of 1930, title II of the Trade Act of 1974, or any antitrust law of the United States.

(3) APPLICABILITY OF FAST TRACK PROCEDURES.—Section 151 of the Trade Act of 1974 (19 U.S.C. 2191) is amended—

(A) in subsection (b)(1), by inserting “section 191 of the Countering Communist China Act,” after “section 282 of the Uruguay Round Agreements Act,”; and

(B) in subsection (c)(1), by inserting “section 191 of the Countering Communist China Act,” after “the Uruguay Round Agreements Act,”.

(a) Short title.—This section may be cited as the “Disclosing Investments in Foreign Adversaries Act of 2024”.

(b) Definitions.—In this section:

(1) COMMISSION.—The term “Commission” means the Securities and Exchange Commission.

(2) COUNTRY OF CONCERN.—The term “country of concern”—

(A) has the meaning given the term “covered nation” in section 4872(d) of title 10, United States Code; and

(B) includes a jurisdiction that the Commission, in consultation with the Secretary of State and the Secretary of the Treasury, determines to be subject to the political and legal control of a covered nation, as defined in section 4872(d) of title 10, United States Code.

(3) COVERED ENTITY.—The term “covered entity” means an entity or person that is required to file Form PF.

(4) EXEMPT REPORTING ADVISER.—The term “exempt reporting adviser” means an investment adviser described in section 275.204–4(a) of title 17, Code of Federal Regulations, or any successor regulation.

(5) FORM ADV.—The term “Form ADV” means the form described in section 279.1 of title 17, Code of Federal Regulations, or any successor regulation.

(6) FORM PF.—The term “Form PF” means the form described in section 279.9 of title 17, Code of Federal Regulations, or any successor regulation.

(7) PRIVATE FUND.—The term “private fund” has the meaning given the term in section 202(a) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–2(a)).

(8) PRIVATE FUND ASSETS.—The term “private fund assets” has the meaning given the term in section 275.204(b)–1 of title 17, Code of Federal Regulations, or any successor regulation.

(c) Enhanced disclosure requirements for advisers of private funds.—

(1) REQUIREMENTS.—

(A) IN GENERAL.—Not later than 1 year after the date of enactment of this Act, the Commission shall amend Form PF and Form ADV, and the rules of the Commission governing the submission of Form PF and Form ADV, to, subject to subparagraph (B), require each covered entity and each exempt reporting adviser to annually disclose when submitting Form PF or Form ADV, respectively, the total private fund assets in countries of concern attributable to the private funds advised by the covered entity or exempt reporting adviser, as applicable, which shall be broken down by the percentage of those assets in each country of concern.

(B) APPLICATION.—For the purposes of subparagraph (A), the Commission shall determine whether a private fund asset is in a country of concern based on—

(i) the amount of capital that is invested in an entity (including a subsidiary of an entity)—

(I) that has a physical presence or employees in that country of concern; or

(II) the plurality of the sales of which are from that country of concern; and

(ii) the proportion of the total assets and liabilities of an entity described in clause (i) that are located in that country of concern.

(2) REPORTING BY COMMISSION.—

(A) PUBLICLY AVAILABLE REPORTS.—

(i) IN GENERAL.—Not later than 1 year after the date on which the Commission makes the amendments required under paragraph (1), and not less frequently than annually thereafter, the Commission shall prepare and make publicly available a report containing a list of covered entities and exempt reporting advisers that, for the period covered by the report, have disclosed more than 0 private fund assets under Form PF or Form ADV (as amended pursuant to that subsection) in at least 1 country of concern, which shall be aggregated by the covered entity or exempt reporting adviser making that disclosure.

(ii) ADDITIONAL REQUIREMENTS.—Each report prepared and made available by the Commission under clause (i) shall—

(I) be aggregated by covered entity or exempt reporting adviser; and

(II) include the percentage of private fund assets disclosed by a covered entity or exempt reporting adviser, as applicable.

(B) RULE OF CONSTRUCTION.—Nothing in this subsection may be construed to permit the Commission to make available any information that appears on Form PF or Form ADV other than the information that is included on Form PF or Form ADV as a result of the requirements under paragraph (1).

(d) Exempted transactions.—

(1) IN GENERAL.—The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by inserting after section 13A (15 U.S.C. 78m–1) the following:

This Act may be cited as the “Stop Funding the CCP through A-Shares Act”.

(a) Definitions.—In this section:

(1) ACTING IN A PROFESSIONAL CAPACITY.—The term “acting in a professional capacity” includes acting as—

(A) a member (as defined in section 3(a)(3)(A) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(3)(A))) of a national securities exchange;

(B) a member (as defined in section 3(a)(3)(B) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(3)(B))) of a registered securities association; or

(C) an associated person of a member (as defined in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a))) described in subparagraph (A) or (B).

(2) ASSIGNMENT.—The term “assignment” has the meaning given the term in section 2(a) of the Investment Company Act of 1940 (15 U.S.C. 80a– 2(a)).

(3) COMMERCE.—The term “commerce” has the meaning given the term in section 4 of the Federal Trade Commission Act (15 U.S.C. 44).

(4) COVERED EXCHANGE.—The term “covered exchange” means—

(A) the Shanghai Stock Exchange (or any subsidiary of that exchange);

(B) the Shenzhen Stock Exchange (or any subsidiary of that exchange);

(C) the Beijing Stock Exchange (or any subsidiary of that exchange); or

(D) any other national exchange, or subsidiary of such an exchange, that is subject to the influence or control of the Party Committee of the China Securities Regulatory Commission, other than the Stock Exchange of Hong Kong.

(5) COVERED SECURITY.—The term “covered security” means a security that—

(A) as of the date on which a covered transaction is executed with respect to the security, is listed on a covered exchange;

(B) is derivative of a security described in subparagraph (A); or

(C) is designed to provide investment exposure to a security described in subparagraph (A).

(6) COVERED TRANSACTION.—The term “covered transaction” means a purchase, sale, or assignment.

(7) ENGAGE IN.—The term “engage in”, with respect to a transaction, means to order, approve, or otherwise perform any act in furtherance of that transaction.

(8) PURCHASE; SALE; SECURITY.—The terms “purchase”, “sale”, and “security” have the meanings given those terms in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).

(9) U.S. PERSON.—The term “U.S. person” has the meaning given the term in section 120.62 of title 22, Code of Federal Regulations, or any successor regulation.

(10) WILLFULLY.—The term “willfully”, with respect to an action, means that the action is taken voluntarily and intentionally in violation of a known legal duty.

(b) Prohibition.—

(1) IN GENERAL.—Except for the purposes of complying with paragraph (2), beginning on the date of enactment of this Act, it shall be unlawful for any U.S. person to make use of the mails or any means or instrumentality of commerce to engage in a covered transaction with respect to a covered security.

(2) DIVESTMENT REQUIRED.—Not later than 180 days after the date of enactment of this Act, each U.S. person shall divest of all covered securities held by the U.S. person.

(c) Penalties.—A U.S. person that violates, attempts to violate, conspires to violate, or causes a violation of this section shall be subject to any of the following penalties:

(1) A civil penalty in an amount not to exceed the greater of—

(A) $350,000; or

(B) an amount that is twice the amount of the covered transaction that is the basis of the violation with respect to which the penalty is imposed.

(2) With respect to a U.S. person that willfully violates, willfully attempts to violate, willfully conspires to violate, or willfully aids or abets in the commission of a violation of this section, a criminal penalty as follows:

(A) If that U.S. person is an individual not acting in a professional capacity, a fine of not more than $1,000,000, a term of imprisonment of not more than 5 years, or both.

(B) If that U.S. person is an individual acting in a professional capacity, a fine of not more than $5,000,000, a term of imprisonment of not more than 20 years, or both.

(C) (i) If that U.S. person is an organization, including any entity described in clause (ii), a fine of not more than $25,000,000.

(ii) An entity described in this clause is any of the following:

(I) An investment company, as defined in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a–3).

(II) A bank, broker, dealer, exchange, insurance company, investment banker, underwriter, savings and loan association, business development company, commodity pool, commodity pool operator, commodity trading advisor, major swap participant, swap dealer, or swap execution facility, as those terms are defined in section 2(a) of the Investment Company Act of 1940 (15 U.S.C. 80a–2(a)).

(III) An investment adviser, as defined in section 202(a) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–2(a)).

(IV) A market intermediary, as defined in section 3(c)(2)(B)(i) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(2)(B)(i)).

(V) A fund described in section 3(c)(10)(B) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(10)(B)).

(VI) A qualified pension, profit-sharing, or stock bonus plan described in section 401 of the Internal Revenue Code of 1986.

(VII) An individual retirement account, as defined in section 408(a) of the Internal Revenue Code of 1986.

(VIII) A tax credit employee stock ownership plan, as defined in section 409(a) of the Internal Revenue Code of 1986.

(a) In general.—In accordance with subsection (b), the Secretary of the Treasury, in consultation with the Secretary of Commerce, the Secretary of State, the Secretary of Defense, the Assistant to the President for National Security Affairs, and the Director of National Intelligence, shall submit to Congress a report on, for the period covered by the report—

(1) the extent of mitigation and elimination of the conditions described in section 2(b); and

(2) the extent of the occurrence of the conditions described in section 2(b) with respect to securities listed on the Stock Exchange of Hong Kong.

(b) Frequency of submission.—The Secretary of the Treasury shall submit to Congress a report described in subsection (a)—

(1) not later than 90 days after the date of enactment of this Act;

(2) not later than 180 days after the date of enactment of this Act; and

(3) once every 180 days after the date on which the Secretary submits the report required under paragraph (2) of this subsection.

(a) Definitions.—In this section:

(1) CHINESE ENTITY.—The term “Chinese entity” means an entity organized under the laws of the People’s Republic of China or otherwise subject to the jurisdiction of the Government of the People’s Republic of China.

(2) UNITED STATES PERSON.—The term “United States person” means—

(A) a United States citizen or an alien lawfully admitted for permanent residence to the United States; or

(B) an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity.

(b) Report.—Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Secretary of the Treasury shall submit to Congress a report on portfolio investments by United States persons in the People’s Republic of China, including such investments routed through a jurisdiction outside the United States.

(c) Elements.—Each report required by subsection (b) shall include an assessment of the involvement of the following in portfolio investments in the People’s Republic of China:

(1) United States persons making such investments, including an assessment of—

(A) the types of United States persons making such investments, including State pension funds; and

(B) United States persons making more than 2 percent of the total of such investments in a year.

(2) Chinese entities receiving such investments, including an assessment of—

(A) such entities in individual sectors of the economic of the People’s Republic of China, including the housing sector;

(B) any Chinese entities subject to sanctions imposed by the United States receiving such investments; and

(C) Chinese entities that receive more than $100,000,000 from such investments.

(d) Period covered.—The period covered by a report required by subsection (b) shall be—

(1) in the case of the first such report, the period beginning on January 1, 2008, and ending on the date of the report; and

(2) in the case of each subsequent such report, the 1-year period preceding submission of the report.

(a) In general.—The Secretary of the Treasury and the Securities and Exchange Commission may coordinate to carry out this Act.

(b) Coordination on imposition of criminal penalties.—For the purposes of carrying out section 3(c)(2), the Secretary of the Treasury and the Securities and Exchange Commission may coordinate with the Attorney General.

(a) Imposition of sanctions.—The President shall impose the sanctions described in subsection (b) with respect to any foreign person that the President determines knowingly commits a significant act of malign disinformation on behalf of the government of a foreign country or foreign political party that has the direct purpose or effect of influencing political, diplomatic, or educational activities in the United States for the purpose of harming—

(1) the national security or defense of the United States; or

(2) the safety and security of any United States citizen or alien lawfully admitted for permanent residence.

(b) Sanctions described.—

(1) IN GENERAL.—The sanctions described in this subsection with respect to a foreign person determined by the President to be subject to subsection (a) are the following:

(A) ASSET BLOCKING.—The President shall exercise of all powers granted to the President by the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of the foreign person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(B) INADMISSIBILITY OF CERTAIN INDIVIDUALS.—

(i) INELIGIBILITY FOR VISAS, ADMISSION, OR PAROLE.—In the case of a foreign person who is an individual, the foreign person is—

(I) inadmissible to the United States;

(II) ineligible to receive a visa or other documentation to enter the United States; and

(III) otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.).

(ii) CURRENT VISAS REVOKED.—

(I) IN GENERAL.—In the case of a foreign person who is an individual, the visa or other documentation issued to the person shall be revoked, regardless of when such visa or other documentation is or was issued.

(II) EFFECT OF REVOCATION.—A revocation under subclause (I) shall—

(aa) take effect immediately; and

(bb) automatically cancel any other valid visa or entry documentation that is in the person’s possession.

(2) PENALTIES.—A person that violates, attempts to violate, conspires to violate, or causes a violation of any regulation, license, or order issued to carry out paragraph (1)(A) shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) to the same extent as a person that commits an unlawful act described in subsection (a) of that section.

(3) EXCEPTION TO COMPLY WITH UNITED NATIONS HEADQUARTERS AGREEMENT.—Sanctions under paragraph (1)(B) shall not apply to a foreign person who is an individual if admitting the person into the United States is necessary to permit the United States to comply with the Agreement regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, between the United Nations and the United States, or other applicable international obligations.

(c) Waiver.—The President may, for one period not to exceed one year, waive the application of sanctions imposed with respect to a foreign person under this section if the President certifies to the appropriate congressional committees not later than 15 days before such waiver is to take effect that the waiver is vital to the national security interests of the United States.

(d) Implementation authority.—The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) for purposes of carrying out this section.

(e) Regulatory authority.—

(1) IN GENERAL.—Not later than 90 days after the date of the enactment of this Act, the President shall promulgate such regulations as are necessary for the implementation of this section.

(2) NOTIFICATION TO CONGRESS.—Not less than 10 days before the promulgation of regulations under paragraph (1), the President shall notify and provide to the appropriate congressional committees the proposed regulations and an identification of the provisions of this section that the regulations are implementing.

(f) Definitions.—In this section:

(1) ADMITTED; ALIEN.—The terms “admitted” and “alien” have the meanings given those terms in section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)).

(2) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term “appropriate congressional committees” means—

(A) the Committee on Foreign Affairs, the Committee on the Judiciary, the Committee on Ways and Means, and the Committee on Financial Services of the House of Representatives; and

(B) the Committee on Foreign Relations, the Committee on the Judiciary, the Committee on Finance, and the Committee on Banking, Housing, and Urban Affairs of the Senate.

(3) FOREIGN PERSON.—The term “foreign person” means a person that is not a United States person.

(4) KNOWINGLY.—The term “knowingly”, with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.

(5) PERSON.—The term “person” means an individual or entity.

(6) PROPERTY; INTEREST IN PROPERTY.—The terms “property” and “interest in property” have the meanings given the terms “property” and “property interest”, respectively, in section 576.312 of title 31, Code of Federal Regulations, as in effect on the day before the date of the enactment of this Act.

(7) UNITED STATES PERSON.—The term “United States person” means—

(A) an individual who is a United States citizen or an alien lawfully admitted for permanent residence to the United States;

(B) an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity; or

(C) any person in the United States.

(g) Sunset.—

(1) IN GENERAL.—This section shall cease to be effective beginning on January 1, 2026.

(2) INAPPLICABILITY.—Paragraph (1) shall not apply with respect to sanctions imposed with respect to a foreign person under this section before January 1, 2026.

(a) In general.—Not later than 90 days after the date of enactment of this Act, the Secretary of State shall submit to the appropriate congressional committees a determination, including a detailed justification, on whether the United Front Work Department of the Chinese Communist Party, or any component or official thereof, meets the criteria for the application of sanctions pursuant to—

(1) section 101 of this Act;

(2) section 1263 of the Global Magnitsky Human Rights Accountability Act (subtitle F of title XII of Public Law 114–328; 22 U.S.C. 2656 note);

(3) section 6 of the Uyghur Human Rights Policy Act of 2020 (Public Law 116–145; 22 U.S.C. 6901 note); or

(4) Executive Order 13694 (50 U.S.C. 1701 note; relating to blocking property of certain persons engaged in significant malicious cyber-enabled activities).

(b) Form.—The determination required by subsection (a) shall be submitted in unclassified form but may contain a classified annex.

(c) Appropriate congressional committees defined.—In this section, the term “appropriate congressional committees” means—

(1) the Committee on Armed Services, the Committee on Foreign Affairs, the Permanent Select Committee on Intelligence, the Committee on Financial Services, and the Committee on the Judiciary of the House of Representatives; and

(2) the Committee on Armed Services, the Committee on Foreign Relations, the Select Committee on Intelligence, the Committee on Banking, Housing, and Urban Affairs, and the Committee on the Judiciary of the Senate.

Section 203 of the International Emergency Economic Powers Act (50 U.S.C. 1702) is amended—

(a) Imposition of sanctions.—Notwithstanding any other provision of law, the President is authorized to impose the sanctions described in subsection (b) with respect to any foreign person that the President determines has developed, maintains, provides, owns, or controls a mobile application or software program that—

(1) engages in the theft or unauthorized transmission of a user’s data to servers located in China; and

(2) provides to the Government of the People’s Republic of China (PRC), the Chinese Communist Party (CCP), or any person owned by or controlled by the PRC or CCP access to such data.

(b) Sanctions described.—

(1) IN GENERAL.—The sanctions described in this subsection with respect to a foreign person determined by the President to be subject to subsection (a) are the following:

(A) ASSET BLOCKING.—The President shall exercise of all powers granted to the President by the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of the foreign person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(B) INADMISSIBILITY OF CERTAIN INDIVIDUALS.—

(i) INELIGIBILITY FOR VISAS, ADMISSION, OR PAROLE.—In the case of a foreign person who is an individual, the foreign person is—

(I) inadmissible to the United States;

(II) ineligible to receive a visa or other documentation to enter the United States; and

(III) otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.).

(ii) CURRENT VISAS REVOKED.—

(I) IN GENERAL.—In the case of a foreign person who is an individual, the visa or other documentation issued to the person shall be revoked, regardless of when such visa or other documentation is or was issued.

(II) EFFECT OF REVOCATION.—A revocation under subclause (I) shall—

(aa) take effect immediately; and

(bb) automatically cancel any other valid visa or entry documentation that is in the person’s possession.

(2) PENALTIES.—The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) shall apply to a person that violates, attempts to violate, conspires to violate, or causes a violation of regulations promulgated under subsection (e) to implement this section to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of such Act.

(3) EXCEPTION TO COMPLY WITH UNITED NATIONS HEADQUARTERS AGREEMENT.—Sanctions under paragraph (1)(B) shall not apply to a foreign person who is an individual if admitting the person into the United States is necessary to permit the United States to comply with the Agreement regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, between the United Nations and the United States, or other applicable international obligations.

(c) Waiver.—The President may, on a case-by-case basis and for periods not to exceed 180 days, waive the application of sanctions imposed with respect to a foreign person under this section if the President certifies to the appropriate congressional committees not later than 15 days before such waiver is to take effect that the waiver is vital to the national security interests of the United States.

(d) Implementation authority.—The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) for purposes of carrying out this section. The exceptions to the President’s authority described in section 203(b) of the International Emergency Economic Powers Act, as shall not apply to the President’s authority to exercise authorities under this section.

(e) Regulatory authority.—

(1) IN GENERAL.—The President shall, not later than 180 days after the date of the enactment of this Act, prescribe regulations as necessary for the implementation of this Act and the amendments made by this Act.

(2) NOTIFICATION TO CONGRESS.—No later than 10 days before the prescription of regulations under subsection (1), the President shall notify the appropriate congressional committees regarding the proposed regulations and the provisions this Act and the amendments made by this Act that the regulations are implementing.

(f) Definitions.—In this section:

(1) ADMITTED; ALIEN.—The terms “admitted” and “alien” have the meanings given those terms in section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)).

(2) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term “appropriate congressional committees” means—

(A) the Committee on Foreign Affairs, the Committee on the Judiciary, the Committee on Ways and Means, and the Committee on Financial Services of the House of Representatives; and

(B) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate.

(3) FOREIGN PERSON.—The term “foreign person” means a person that is not a United States person.

(a) Determination.—Not later than 90 days after the date of the enactment of this Act, the Secretary of State shall submit to the appropriate congressional committees a determination, including a detailed justification, regarding whether WeChat and TikTok, or any component thereof, or any entity owned or controlled by WeChat, satisfies the criteria for the application of sanctions pursuant to—

(1) section 205 of this Act; or

(2) Executive Order 13694 (50 U.S.C. 1701 note; relating to blocking property of certain persons engaged in significant malicious cyber-enabled activities).

(b) Form.—The determination required by subsection (a) shall be submitted in unclassified form but may contain a classified annex.

(c) Appropriate congressional committees defined.—In this section, the term “appropriate congressional committees” means—

(1) the Committee on Armed Services, the Committee on Foreign Affairs, the Permanent Select Committee on Intelligence, the Committee on Financial Services, and the Committee on the Judiciary of the House of Representatives; and

(2) the Committee on Armed Services, the Committee on Foreign Relations, the Select Committee on Intelligence, the Committee on Banking, Housing, and Urban Affairs, and the Committee on the Judiciary of the Senate.

(a) Prohibition.—The Lobbying Disclosure Act of 1995 (2 U.S.C. 1601 et seq.) is amended by inserting after section 5 the following new section:

(b) Effective date.—The amendments made by this section shall apply with respect to lobbying contacts under the Lobbying Disclosure Act of 1995 which are made on or after the date of the enactment of this Act.

(a) Reporting requirement.—Section 6033(b) of the Internal Revenue Code of 1986 is amended by striking “and” at the end of paragraph (15), by redesignating paragraph (16) as paragraph (17) and by inserting after paragraph (15) the following new paragraph:

“(16) with respect to each government of a foreign country (within the meaning of section 1(e) of the Foreign Agents Registration Act of 1938 (22 U.S.C. 611(e))) and each foreign political party (within the meaning of section 1(f) of such Act (22 U.S.C. 611(f)) which made aggregate contributions and gifts to the organization during the year in excess of $50,000, the name of such government or political party and such aggregate amount, and”.

(b) Public disclosure.—Section 6104 of such Code is amended by adding at the end the following new subsection:

“(e) Public disclosure of certain information.—The Secretary shall make publicly available in a searchable database the following information:

“(1) The information furnished under section 6033(b)(16) of the Internal Revenue Code of 1986, as amended by this section.

“(2) The name of the organization furnishing the information described in paragraph (1).

“(3) The aggregate amount reported under such section as having been received as contributions or gifts in each year from the People’s Republic of China and (stated separately) from the Chinese Communist Party.”.

(c) Effective date.—The amendments made by this section shall apply to returns filed for taxable years beginning after the date of the enactment of this Act.

(a) Imposition of sanctions.—Notwithstanding any other provision of law, the President is authorized to impose the sanctions described in subsection (b) with respect to any foreign person the President determines—

(1) is a senior official of the CCP, including a member of the CCP Politburo; and

(2) has engaged in or provided support to or for—

(A) a malign disinformation campaign or political warfare operation against the United States;

(B) the theft of intellectual property of a United States person;

(C) threats or actions undermining the sovereignty of Taiwan; and

(D) the forced closure or destruction of churches, mosques, Buddhist temples or any other place of worship in China, or religious practice of Christians, Muslims, Buddhists or any other religious group in China.

(b) Sanctions described.—

(1) IN GENERAL.—The sanctions described in this subsection with respect to a foreign person determined by the President to be subject to subsection (a) are the following:

(A) ASSET BLOCKING.—The President shall exercise of all powers granted to the President by the International Emergency Economic Powers Act (U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of the foreign person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(B) INADMISSIBILITY OF CERTAIN INDIVIDUALS.—

(i) INELIGIBILITY FOR VISAS, ADMISSION, OR PAROLE.—Such a foreign person is—

(I) inadmissible to the United States;

(II) ineligible to receive a visa or other documentation to enter the United States; and

(III) otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.).

(ii) CURRENT VISAS REVOKED.—

(I) IN GENERAL.—The visa or other documentation issued to such a foreign person shall be revoked, regardless of when such visa or other documentation is or was issued.

(II) EFFECT OF REVOCATION.—A revocation under subclause (I) shall—

(aa) take effect immediately; and

(bb) automatically cancel any other valid visa or entry documentation that is in the person’s possession.

(2) PENALTIES.—The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 24 U.S.C. 1705) shall apply to a person that violates, attempts to violate, conspires to violate, or causes a violation of regulations promulgated under subsection (f) to implement this section to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of that Act.

(3) EXCEPTION TO COMPLY WITH UNITED NATIONS HEADQUARTERS AGREEMENT.—Sanctions under paragraph (1)(B) shall not apply to a foreign person who is an individual if admitting the person into the United States is necessary to permit the United States to comply with the Agreement regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, between the United Nations and the United States, or other applicable international obligations.

(c) Waiver.—The President may, on a case-by-case basis and for one period not to exceed one year, waive the application of sanctions imposed with respect to a foreign person under this section if the President certifies to the appropriate congressional committees not later than 15 days before such waiver is to take effect that such waiver is vital to the national security interests of the United States.

(d) Termination of sanctions.—The President may terminate the application of sanctions under this section if the President determines and reports to the appropriate congressional committees not later than 15 days before the termination takes effect that the President has determined that the foreign person no longer is involved in any of the activities described in subsection (a).

(e) Implementation authority.—The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) for purposes of carrying out this section.

(f) Regulatory authority.—

(1) IN GENERAL.—Not later than 90 days after the date of the enactment of this Act, the President shall promulgate regulations as necessary for the implementation of this section.

(2) NOTIFICATION TO CONGRESS.—Not later than 10 days before the promulgation of regulations under paragraph (1), the President shall notify and provide to the appropriate congressional committees the proposed regulations and the provisions of this section that such regulations are implementing.

(g) Sunset.—

(1) IN GENERAL.—This section shall terminate on January 1, 2026.

(2) INAPPLICABILITY.—Paragraph (1) shall not apply with respect to sanctions imposed with respect to a foreign person under this section before January 1, 2026.

(h) Definitions.—In this section:

(1) ADMITTED.—The term “admitted” has the meaning given such term in section 101(3) of the Immigration and Nationality Act (8 U.S.C. 1101(3)).

(2) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term “appropriate congressional committees” means—

(A) the Committee on Foreign Affairs, the Committee on the Judiciary, the Committee on Ways and Means, and the Committee on Financial Services of the House of Representatives; and

(B) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate.

(3) FOREIGN PERSON.—The term “foreign person” means a person that is not a national or citizen of the United States or lawfully admitted for permanent residence in the United States.

(a) Determination.—Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit to the appropriate congressional committees a determination, including a detailed justification, regarding whether any member of the Chinese Communist Party (CCP) Politburo satisfies the criteria for the application of sanctions pursuant to any of the following:

(1) Section 208 of this Act.

(2) Executive Order 13694 (50 U.S.C. 1701 note; relating to blocking property of certain persons engaged in significant malicious cyber-enabled activities).

(3) The Global Magnitsky Human Rights Accountability Act (22 U.S.C. 2656 note).

(4) The Uyghur Human Rights and Policy Act of 2020 (Public Law 116–145).

(5) The Hong Kong Human Rights and Democracy Act of 2019 (Public Law 116–76).

(b) Form.—The determination required by subsection (a) shall be submitted in unclassified form but may contain a classified annex.

(c) Appropriate congressional committees defined.—In this section, the term “appropriate congressional committees” means—

(1) the Committee on Armed Services, the Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on the Judiciary of the House of Representatives; and

(2) the Committee on Armed Services, the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, and the Committee on the Judiciary of the Senate.

(a) In general.—No later than 180 days after the date of the enactment of this Act, the President shall impose the sanctions described in section 108 with respect to each individual specified in subsection (b).

(b) Individuals and organizations described.—The individuals specified in this subsection are the following:

(1) He Lifeng.

(2) Zhao Leji.

(3) Cai Qi.

(4) Ding Xuexiang.

(5) Li Xi.

(a) Short title.—This section may be cited as the “Sanctioning Tyrannical and Oppressive People within the Chinese Communist Party Act” or the “STOP CCP Act”.

(b) Findings.—Congress finds the following:

(1) The Hong Kong National Security Law promulgated on July 1, 2020—

(A) contravenes the Basic Law of the Hong Kong Special Administrative Region that provides in Article 23 that the Legislative Council of Hong Kong shall enact legislation related to national security;

(B) violates the People’s Republic of China’s commitments under international law, as defined by the Joint Declaration; and

(C) causes severe and irreparable damage to the “one country, two systems” principle and further erodes global confidence in the People’s Republic of China’s commitment to international law.

(2) Repression of ethnic Muslim minorities in the Xinjiang Uyghur Autonomous Region of the People’s Republic of China has been ongoing, and was formalized with the “Strike Hard Campaign against Violent Terrorism” that began in 2014.

(3) The mass internment of Uyghur and other Muslim ethnic minorities in the Xinjiang Uyghur Autonomous Region has been ongoing since April 2017.

(4) The People’s Republic of China has conducted a targeted and systemic population-control campaign against ethnic and religious minorities in the Xinjiang Uyghur Autonomous Region by imposing and implementing coercive population-control practices, including selectively enforcing birth quotas, targeting minority women who are in noncompliance with birth quotas, and subjecting women to coercive measures such as forced birth control, forced sterilization, and forced abortion.

(5) On October 6, 2020, 39 countries delivered a cross-regional joint statement to the United States Mission to the United Nations on the human rights abuses on Uyghurs and other minorities for forced birth control including sterilization.

(6) On January 19, 2021, the Department of State determined that the People’s Republic of China committed crimes against humanity and genocide against Uyghurs and other ethnic and religious minority groups in the Xinjiang Uyghur Autonomous Region, citing forced sterilizations, forced abortions, coerced marriages, and separation of Uyghur children from their families.

(7) The Department of State’s 2020 Country Reports on Human Rights Practices affirmed the genocide determination and noted coercive population control measures inflicted on ethnic and religious minority women in China, including forced injections with “drugs that cause temporary or permanent end to their menstrual cycles and fertility”.

(8) The United States ratified the United Nations Convention on the Prevention and Punishment of Genocide in 1988, recognizing that “imposing measures intended to prevent births within the group” with intent to destroy a group in whole or part is an act that constitutes genocide.

(9) Taiwan is a free and prosperous democracy of nearly 24,000,000 people and an important contributor to peace and stability around the world.

(10) Section 2(b) of the Taiwan Relations Act (Public Law 96–8; 22 U.S.C. 3301(b)) states that it is the policy of the United States—

(A) “to preserve and promote extensive, close, and friendly commercial, cultural, and other relations between the people of the United States and the people on Taiwan, as well as the people on the China mainland and all other peoples of the Western Pacific area”;

(B) “to declare that peace and stability in the area are in the political, security, and economic interests of the United States, and are matters of international concern”;

(C) “to make clear that the United States decision to establish diplomatic relations with the People’s Republic of China rests upon the expectation that the future of Taiwan will be determined by peaceful means”;

(D) “to consider any effort to determine the future of Taiwan by other than peaceful means, including by boycotts or embargoes, a threat to the peace and security of the Western Pacific area and of grave concern to the United States”; and

(E) “to provide Taiwan with arms of a defensive character”;

(F) “to maintain the capacity of the United States to resist any resort to force or other forms of coercion that would jeopardize the security, or the social or economic system, of the people on Taiwan”.

(11) Since the election of President Tsai Ing-wen as President of Taiwan in 2016, the Government of the People’s Republic of China has intensified its efforts to pressure Taiwan through diplomatic isolation and military provocations.

(12) The rapid modernization of the People’s Liberation Army and recent military maneuvers in and around the Taiwan Strait illustrate a clear threat to Taiwan’s security.

(c) Sense of congress.—It is the sense of Congress that the Chinese Communist Party, led by General Secretary Xi Jinping, has committed numerous human rights violations against the people of Hong Kong and the people of Taiwan, as well as genocide against Uyghur Muslims in the Xinjiang Uyghur Autonomous Region.

(d) Imposition of sanctions on members of the national communist party congress of the people’s republic of China.—

(1) IN GENERAL.—Not later than 30 days after the date of the enactment of this Act, the President shall impose sanctions under paragraph (2) with respect to—

(A) a person who is or was a member of any National Communist Party Congress of the People’s Republic of China; and

(B) any person who is an adult family member, including a spouse or adult family member, of a person described in subparagraph (A).

(2) SANCTIONS DESCRIBED.—

(A) IN GENERAL.—The sanctions described in this subsection are the following:

(i) BLOCKING OF PROPERTY.—The President shall exercise all of the powers granted to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of the person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(ii) ALIENS INELIGIBLE FOR VISAS, ADMISSION, OR PAROLE.—

(I) VISAS, ADMISSION, OR PAROLE.—An alien who the Secretary of State or the Secretary of Homeland Security (or a designee of one of such Secretaries) knows, or has reason to believe, has knowingly engaged in any activity described in paragraph (1) is—

(aa) inadmissible to the United States;

(bb) ineligible to receive a visa or other documentation to enter the United States; and

(cc) otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.).

(II) CURRENT VISAS REVOKED.—

(aa) IN GENERAL.—The issuing consular officer, the Secretary of State, or the Secretary of Homeland Security (or a designee of one of such Secretaries) shall, in accordance with section 221(i) of the Immigration and Nationality Act (8 U.S.C. 1201(i)), revoke any visa or other entry documentation issued to an alien described in subclause (I) regardless of when the visa or other entry documentation is issued.

(bb) EFFECT OF REVOCATION.—A revocation under item (aa) shall take effect immediately and shall automatically cancel any other valid visa or entry documentation that is in the alien’s possession.

(B) EXCEPTIONS.—

(i) UNITED NATIONS HEADQUARTERS AGREEMENT.—The sanctions described under subparagraph (A)(ii) shall not apply with respect to an alien if admitting or paroling the alien into the United States is necessary to permit the United States to comply with the Agreement regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, between the United Nations and the United States, or other applicable international obligations.

(ii) EXCEPTION FOR INTELLIGENCE, LAW ENFORCEMENT, AND NATIONAL SECURITY ACTIVITIES.—Sanctions under subparagraph (A) shall not apply to any authorized intelligence, law enforcement, or national security activities of the United States.

(iii) EXCEPTION RELATING TO IMPORTATION OF GOODS.—

(I) IN GENERAL.—Notwithstanding any other provision of this section, the authorities and requirements to impose sanctions under this section shall not include the authority or a requirement to impose sanctions on the importation of goods.

(II) GOOD DEFINED.—In this clause, the term “good” means any article, natural or man-made substance, material, supply or manufactured product, including inspection and test equipment, and excluding technical data.

(3) PENALTIES.—The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) shall apply to a person that violates, attempts to violate, conspires to violate, or causes a violation of regulations promulgated to carry out this section or the sanctions imposed pursuant to this section to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of that Act.

(4) IMPLEMENTATION AUTHORITY.—The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) for purposes of carrying out this section.

(5) REGULATORY AUTHORITY.—The President shall, not later than 30 days after the date of the enactment of this Act, promulgate regulations as necessary for the implementation of this section.

(6) WAIVER.—The President shall have the authority to waive the sanctions required by paragraph (1) for renewable periods of 30 days, if the President provides a written certification to the appropriate congressional committees, which shall also be made publicly available on a website maintained by the Federal Government, that the People’s Republic of China and the Chinese Communist Party have—

(A) ceased the genocide of the Uyghur Muslim population, including verifiably shutting down all internment camps of Uyghurs and ending the practice of facilitating or supporting Uyghur forced labor and forced sterilization;

(B) ceased all forms of threats, military exercises, and aggression toward Taiwan, including through verifiably, and for at least a period of one year, having not conducted any breach of Taiwan’s air space, territorial waters, or land mass, by any military or intelligence personnel associated with the People’s Republic of China or the Chinese Communist Party, or any agent or instrumentality thereof;

(C) ceased the undermining of the autonomy of Hong Kong, including through respecting the terms of the Sino-British Joint Declaration, and reversing all steps taken to interfere with the democratic process and governance of Hong Kong; and

(D) ceased efforts to steal the intellectual property of United States persons.

(7) SUNSET OF WAIVER AND LICENSE AUTHORITIES.—The President’s authority to issue waivers or licenses with respect to sanctions required by paragraph (1) or pursuant to sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) with regard to sanctions required by paragraph (1) shall cease to apply beginning on the date that is 2 years after the date of enactment of this Act.

(a) Huawei technologies co. ltd.—The Secretary of Commerce may not remove Huawei Technologies Co. Ltd., or its subsidiaries and affiliates, from the entity list or modify any of the licensing policies pursuant to its designation on the entity list, including the foreign direct product rule, unless the Secretary, with the concurrence of the End-User Review Committee by a unanimous vote of such Committee, certifies to the appropriate congressional committees that Huawei Technologies Co. Ltd., and its subsidiaries and affiliates—

(1) have not engaged in activities that are contrary to United States national security or foreign policy interests and are unlikely to engage in such activities in the future; and

(2) are not owned, controlled, or influenced by the Communist Party of China.

(b) Honor device co. ltd.—Not later than 180 days after the date of the enactment of this Act, the Secretary of Commerce—

(1) shall designate Honor Device Co. Ltd. for inclusion on the entity list; and

(2) shall publish a notification with respect to such designation in the Federal Register.

(c) Report.—

(1) IN GENERAL.—Not later than 30 days after the date of the enactment of this Act, and on a monthly basis thereafter, the Secretary of Commerce shall submit to the appropriate congressional committees a report that—

(A) identifies and describes all license applications received by the Department of Commerce to export, reexport, or transfer (in-country) items subject to the Export Administration Regulations to—

(i) Huawei Technologies Co. Ltd., or its subsidiaries and affiliates; or

(ii) Honor Device Co. Ltd; and

(B) identifies whether such license applications were approved or denied.

(2) FORM.—The report required by subsection (a) shall be submitted in unclassified form, but may contain a classified annex.

(d) Definitions.—In this section:

(1) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term “appropriate congressional committees” means the Committee on Foreign Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.

(2) END-USER REVIEW COMMITTEE.—The term “End-User Review Committee” means the End-User Review Committee described in Supplement No. 9 to part 748 of the Export Administration Regulations.

(3) ENTITY LIST.—The term “entity list” means the list maintained by the Bureau of Industry and Security and set forth in Supplement No. 4 to part 744 of the Export Administration Regulations.

(4) EXPORT ADMINISTRATION REGULATIONS.—The term “Export Administration Regulations” means subchapter C of chapter VII of title 15, Code of Federal Regulations.

Subsection (a) of section 108A of the Mutual Educational and Cultural Exchange Act of 1961 (22 U.S.C. 2458a(a)) is amended by adding at the end the following new paragraph:

(a) In general.—Section 8438 of title 5, United States Code, is amended by adding at the end the following:

“(i) Notwithstanding any other provision of this section, no fund established or overseen by the Board may include an investment in any security of—

“(1) an entity based in the People’s Republic of China; or

“(2) any subsidiary that is owned or operated by an entity described in paragraph (1).”.

(b) Divestiture of assets.—Not later than 30 days after the date of enactment of this Act, the Federal Retirement Thrift Investment Board established under section 8472(a) of title 5, United States Code, shall—

(1) review whether any sums in the Thrift Savings Fund are invested in violation of subsection (i) of section 8438 of that title, as added by subsection (a) of this section;

(2) if any sums are invested in the manner described in paragraph (1), divest those sums in a manner that is consistent with the legal and fiduciary duties provided under chapter 84 of that title, or any other applicable provision of law; and

(3) reinvest any sums divested under paragraph (2) in investments that do not violate subsection (i) of section 8438 of that title, as added by subsection (a) of this section.

(c) Prohibition on investment of TSP funds in entities based in the people’s republic of China through the TSP mutual fund window.—Section 8438(b)(5) of title 5, United States Code, is amended by adding at the end the following:

“(E) A mutual fund accessible through a mutual fund window authorized under this paragraph may not include an investment in any security of—

“(i) an entity based in the People’s Republic of China; or

“(ii) any subsidiary that is owned or operated by an entity described in clause (i).”.

(a) In general.—The provisions of Executive Order 13920 (85 Fed. Reg. 26595; relating to securing the United States bulk-power system (May 1, 2020)) (as in effect on May 1, 2020) are enacted into law.

(b) Publication.—In publishing this Act in slip form and in the United States Statutes at Large pursuant to section 112 of title 1, United States Code, the Archivist of the United States shall include after the date of approval at the end an appendix setting forth the text of the Executive order referred to in subsection (a) (as in effect on May 1, 2020).

(a) Inclusion in definition of covered transaction.—Section 721(a)(4) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4)) is amended—

(1) in subparagraph (A)—

(A) in clause (i), by striking “; and” and inserting a semicolon;

(B) in clause (ii), by striking the period at the end and inserting “; and”; and

(C) by adding at the end the following:

“(iii) any transaction described in subparagraph (B)(vi) proposed or pending on or after the date of the enactment of the Countering Communist China Act.”; and

(2) in subparagraph (B), by adding at the end the following:

“(vi) An investment by a foreign person that—

“(I) involves—

“(aa) the completed or planned purchase or lease by, or a concession to, the foreign person of private or public real estate in the United States; and

“(bb) the establishment of a United States business to operate a factory or other facility on that real estate; and

“(II) could result in control, including through formal or informal arrangements to act in concert, of that United States business by—

“(aa) the Government of the People’s Republic of China;

“(bb) a person owned or controlled by, or acting on behalf of, that Government;

“(cc) an entity in which that Government has, directly or indirectly, including through formal or informal arrangements to act in concert, a 5 percent or greater interest;

“(dd) an entity in which that Government has, directly or indirectly, the right or power to appoint, or approve the appointment of, any members of the board of directors, board of supervisors, or an equivalent governing body (including external directors and other individuals who perform the duties usually associated with such titles) or officers (including the president, senior vice president, executive vice president, and other individuals who perform duties normally associated with such titles) of any other entity that held, directly or indirectly, including through formal or informal arrangements to act in concert, a 5 percent or greater interest in the entity in the preceding 3 years; or

“(ee) an entity in which any members or officers described in item (dd) of any other entity holding, directly or indirectly, including through formal or informal arrangements to act in concert, a 5 percent or greater interest in the entity are members of the Chinese Communist Party or have been members of the Chinese Communist Party in the preceding 3 years.”.

(b) Definition of government of people’s republic of China.—Section 721(a) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)) is amended—

(1) by redesignating paragraphs (8) through (13) as paragraphs (9) through (14), respectively; and

(2) by inserting after paragraph (7) the following:

“(7) GOVERNMENT OF PEOPLE’S REPUBLIC OF CHINA.—The term ‘Government of the People’s Republic of China’ includes the national and subnational governments within the People’s Republic of China, including any departments, agencies, or instrumentalities of such governments.”.

(c) Mandatory filing of declarations.—Section 721(b)(1)(C)(v)(IV)(bb) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(1)(C)(v)(IV)(bb)) is amended by adding at the end the following:

“(DD) GREENFIELD INVESTMENTS BY PEOPLE’S REPUBLIC OF CHINA.—The parties to a covered transaction described in subsection (a)(4)(B)(vi) shall submit a declaration described in subclause (I) with respect to the transaction.”.

(a) In general.—Section 203 of the International Emergency Economic Powers Act (50 U.S.C. 1702) is amended—

(1) in subsection (b)—

(A) in the matter preceding paragraph (1), by striking “to regulate or prohibit, directly or indirectly” and inserting “to directly regulate or prohibit”; and

(B) in the first sentence of paragraph (3)—

(i) by striking “but not limited to,”; and

(ii) by inserting “, but excluding sensitive personal data”; and

(2) by adding at the end the following:

“(d) Sensitive personal data defined.—In subsection (b)(3), the term ‘sensitive personal data’ means any of the following:

“(1) Personally identifiable information, including the following:

“(A) Financial data that could be used to analyze or determine an individual’s financial distress or hardship.

“(B) The set of data in a consumer report, as defined under section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a), unless such data is obtained from a consumer reporting agency for one or more purposes identified in subsection (a) of such section.

“(C) The set of data in an application for health insurance, long-term care insurance, professional liability insurance, mortgage insurance, or life insurance.

“(D) Data relating to the physical, mental, or psychological health condition of an individual.

“(E) Non-public electronic communications, including email, messaging, or chat communications, between or among users of a United States business’s products or services if a primary purpose of such product or service is to facilitate third-party user communications.

“(F) Geolocation data collected using positioning systems, cell phone towers, or WiFi access points such as via a mobile application, vehicle GPS, other onboard mapping tool, or wearable electronic device.

“(G) Biometric enrollment data including facial, voice, retina/iris, and palm/fingerprint templates.

“(H) Data stored and processed for generating a Federal, State, tribal, territorial, or other government identification card.

“(I) Data concerning United States Government personnel security clearance status.

“(J) The set of data in an application for a United States Government personnel security clearance or an application for employment in a position of public trust.

“(2) Genetic information, which includes the results of an individual’s genetic tests, including any related genetic sequencing data, whenever such results, in isolation or in combination with previously released or publicly available data, constitute identifiable data. Such results shall not include data derived from databases maintained by the United States Government and routinely provided to private parties for purposes of research. For purposes of this paragraph, the term ‘genetic test’ has the meaning provided in section 2791(d)(17) of the Public Health Service Act (42 U.S.C. 300gg–91(d)(17)).”.

(b) Effective date.—The amendments made by this section—

(1) take effect on the date of the enactment of this Act; and

(2) apply with respect to any exercise of the authority granted to the President under section 203 of the International Emergency Economic Powers Act on or after such date of enactment.

The Secretary of Agriculture shall take such actions as may be necessary to prohibit the purchase of agricultural land located in the United States by companies owned, in full or in part, by the People’s Republic of China. Beginning on the date of the enactment of this Act, agricultural land owned by the People’s Republic of China or companies owned, in full or in part, by the People’s Republic of China shall not be eligible for participation in programs administered by the Secretary of Agriculture.

The Director of National Intelligence shall annually submit to Congress a report on ownership structures and spending on media outlets, including in the form of paid advertorials, by entities with economic ties to Chinese state actors.

(a) In general.—The President shall take such steps as may be necessary to prohibit the awarding or renewal of any Federal contract or procurement agreement with any technology company the President determines has provided hardware or software to the Government of the People’s Republic of China or to any state-owned enterprise of China.

(b) Exception.—A technology company shall not be subject to the prohibition under subsection (a) if the company agrees to provide bulk data to the United States Government on demand.

(c) Waiver.—The President may waive the prohibition under subsection (a) on a case-by-case basis if the President certifies to Congress that such a waiver is in the national security interests of the United States.

(d) Referral.—The Chair or Ranking Member of the Committee on Foreign Affairs of the House of Representatives or the Committee on Foreign Relations of the Senate may refer to the President the identities of companies the Chair or Ranking member believes meets the definition of “technology company” for purposes of this section and should be subject to the prohibition under subsection (a).

(a) Short title.—This section may be cited as the “Establishing New Authorities for Businesses Laundering and Enabling Risks to Security Act” or the “ENABLERS Act”.

(b) Financial institution definition.—

(1) IN GENERAL.—Section 5312(a)(2) of title 31, United States Code, as amended by the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, is amended—

(A) by redesignating subparagraphs (Z) and (AA) as subparagraphs (GG) and (HH), respectively; and

(B) by inserting after subparagraph (Y) the following:

“(Z) a person engaged in the business of providing investment advice for compensation;

“(AA) a person engaged in the trade in works of art, antiques, or collectibles, including a dealer, advisor, consultant, custodian, gallery, auction house, museum, or any other person who engages as a business in the solicitation or the sale of works of art, antiques, or collectibles;

“(BB) an attorney, law firm, or notary involved in financial activity or related administrative activity on behalf of another person;

“(CC) a trust or company service provider, including—

“(i) a person involved in forming a corporation, limited liability company, trust, foundation, partnership, or other similar entity or arrangement;

“(ii) a person involved in acting as, or arranging for another person to act as, a registered agent, trustee, or nominee to be a shareholder, officer, director, secretary, partner, signatory, or other similar position in relation to a person or arrangement;

“(iii) a person involved in providing a registered office, address, or other similar service for a person or arrangement; or

“(iv) any other person providing trust or company services, as defined by the Secretary of the Treasury;

“(DD) a certified public accountant or public accounting firm;

“(EE) a person engaged in the business of public relations, marketing, communications, or other similar services in such a manner as to provide another person anonymity or deniability;

“(FF) a person engaged in the business of providing third-party payment services, including payment processing, check consolidation, cash vault services, or other similar services designated by the Secretary of the Treasury;”.

(2) RULEMAKING.—

(A) IN GENERAL.—Not later than December 31, 2023—

(i) the Secretary of the Treasury shall repeal section 103.170 of title 31, Code of Federal Regulations (relating to exemptions for certain financial institutions); and

(ii) the Secretary of the Treasury shall issue one or more rules to require all financial institutions (as defined in section 5312(a)(2) of title 31, United States Code) that have not already done so to—

(I) report suspicious transactions under section 5318(g) of title 31, United States Code;

(II) establish anti-money laundering programs under section 5318(h) of title 31, United States Code;

(III) establish due diligence policies, procedures, and controls under section 5318(i) of title 31, United States Code; and

(IV) identify and verify their account holders under section 5318(l) of title 31, United States Code.

(B) TRUST OR COMPANY SERVICE PROVIDER.—In promulgating a rule under subparagraph (A)(ii) to implement subparagraph (CC) of section 5312(a)(2) of title 31, United States Code, as added by paragraph (1), the Secretary of Treasury shall exclude from the category of covered persons—

(i) any government agency; and

(ii) any attorney or law firm that uses a paid trust or company service provider, including any paid entity formation agent, operating within the United States.

(3) EFFECTIVE DATE.—

(A) IN GENERAL.—Subparagraphs (Z) through (FF) of section 5312(a)(2) of title 31, United States Code, as added by paragraph (1), shall take effect on December 31, 2023.

(B) LIMITATION ON EXEMPTIONS.—With respect to a person described under subparagraphs (Z) through (FF) of section 5312(a)(2) of title 31, United States Code, as added by paragraph (1), the Secretary of the Treasury may not exempt such person from any requirement under subchapter II of chapter 53 of title 31, United States Code, including any delay in such application.

(C) APPLICATION OF CERTAIN PROVISIONS.—Any financial institution (as defined in section 5312(a)(2) of title 31, United States Code) that is not already required to comply with subsections (g), (h), (i), and (l) of section 5318 of title 31, United States Code, shall do so on and after June 30, 2024, whether or not a rule has been issued under paragraph (2)(A)(ii).

(c) Treasury task force and strategy.—

(1) IN GENERAL.—The Secretary of the Treasury, acting through the Director of the Financial Crimes Enforcement Network, shall establish a task force to—

(A) develop an ambitious, comprehensive, and multi-year United States Government strategy to impose anti-money laundering safeguards on all necessary gatekeeper professions;

(B) designate and authorize a Federal or State agency to enforce anti-money laundering requirements for each type of financial institution defined in section 5312(a)(2) of title 31, United States Code; and

(C) advance the regulatory rulemaking required under subsection (b)(2) of this section.

(2) GATEKEEPERS STRATEGY.—

(A) IN GENERAL.—Section 262 of the Countering America’s Adversaries Through Sanctions Act (Public Law 115–44), is amended by inserting after paragraph (10) the following:

“(11) GATEKEEPERS STRATEGY.—A description of efforts to impose anti-money laundering safeguards on all necessary gatekeeper professions, including art dealers, investment advisors, real estate professionals, lawyers, accountants, trust or company service providers, public relations professionals, dealers of luxury vehicles, money service businesses, and other similar professions.”.

(B) UPDATE CLARIFICATION.—If, before the date of the enactment of this Act, all updates to the national strategy required by section 261(b) of the Countering America’s Adversaries Through Sanctions Act (Public Law 115–44) have been completed, the President shall provide an additional update of such national strategy to the Congress containing the contents required under the amendment made by subparagraph (A).

(d) Reporting by title insurance companies.—

(1) IN GENERAL.—Not later than 90 days after the date of the enactment of this Act, the Secretary of the Treasury shall promulgate a rule requiring a domestic title insurance company to obtain, maintain, and report to the Secretary information on the beneficial owners of entities that purchase or sell residential or commercial real estate in transactions in which the domestic title insurance company is involved.

(2) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated to the Secretary such sums as may be necessary to carry out this section.

(3) DEFINITIONS.—In this subsection:

(A) BENEFICIAL OWNER.—The term “beneficial owner”, with respect to an entity, has the meaning as defined in section 5336 of subchapter II of chapter 53 of title 31, United States Code.

(B) DOMESTIC TITLE INSURANCE COMPANY.—The term “domestic title insurance company” has the meaning given that term in regulations prescribed by the Secretary.

Subsection (b) of section 36 of the State Department Basic Authorities Act of 1956 (22 U.S.C. 2708) is amended—

(a) In general.—Notwithstanding any other provision of law, no funds available to any Federal department or agency may be used to seek membership by the United States in the World Health Organization or to provide assessed or voluntary contributions to the World Health Organization until such time as the President certifies to Congress that the World Health Organization meets the conditions described in subsection (b).

(b) Conditions described.—The conditions described in this subsection are the following:

(1) The World Health Organization has adopted meaningful reforms to ensure that humanitarian assistance is not politicized and is to be provided to those with the most need.

(2) The World Health Organization is not under the control or significant malign influence of the Chinese Communist Party.

(3) The World Health Organization is not involved in a coverup of the Chinese Communist Party’s response to the COVID–19 pandemic.

(4) The World Health Organization grants observer status to Taiwan.

(5) The World Health Organization does not divert humanitarian or medical supplies to Iran, North Korea, or Syria.

(6) The World Health Organization has put in place mechanisms to increase transparency and accountability in its operations and eliminate waste, fraud, and abuse.

(a) Purposes and definitions.—Section 502 of the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (22 U.S.C. 5601) is amended—

(1) in the section heading, by adding at the end before the period the following: “AND DEFINITIONS”;

(2) by striking “The purposes” and inserting “(a) purposes.—The purposes”;

(3) in paragraph (1)—

(A) by striking “or use” and insert “use”; and

(B) by inserting “, or engage in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state” after “nationals”; and

(4) by adding at the end the following:

“(b) Definitions.—In this Act:

“(1) GROSS NEGLIGENCE.—The term ‘gross negligence’, with respect to an act or acts of a government of a foreign state, includes the government knew, or should have known, the act or acts would result in injury or damages to another foreign state or other such foreign states.

“(2) FOREIGN STATE.—The term ‘foreign state’—

“(A) (i) has the meaning given that term in subsection (a) of section 1603 of title 28, United States Code; and

“(ii) includes an ‘agency or instrumentality of a foreign state’ as that term is defined in subsection (b) of such section; and

“(B) includes an entity that is—

“(i) (I) directly or indirectly owned, controlled, or beneficially owned by, or in an official or unofficial capacity acting as an agent of or on behalf of, the government of a foreign state; or

“(II) received significant material support from the government of a foreign state; and

“(ii) engaged in providing commercial services, shipping, manufacturing, producing, or exporting.”.

(b) Determinations regarding use of chemical or biological weapons.—Section 506 of the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (22 U.S.C. 5604) is amended—

(1) in subsection (a)—

(A) by redesignating paragraph (3) as paragraph (4);

(B) by inserting after paragraph (2) the following:

“(3) ADDITIONAL DETERMINATION BY THE PRESIDENT.—

“(A) WHEN DETERMINATION REQUIRED; NATURE OF DETERMINATION.—Whenever credible information becomes available to the executive branch indicating a substantial possibility that, on or after January 1, 2020, the government of a foreign country has engaged in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state, the President shall, within 60 days after the receipt of such information by the executive branch, determine whether that government, on or after such date, has engaged in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state. Section 507 applies if the President determines that that government has so engaged in such act or acts of gross negligence.

“(B) MATTERS TO BE CONSIDERED.—In making the determination under subparagraph (A), the President shall consider the following:

“(i) All physical and circumstantial evidence available bearing on the possibility that the government in question engaged in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state.

“(ii) Whether evidence exists that such program or programs have civilian and military purposes or applications.

“(iii) Whether the government in question attempted to conceal or otherwise withhold information from other governments or international organizations regarding an act or acts of gross negligence.

“(iv) Whether, and to what extent, the government in question is compliant with its obligations under the Biological and Toxin Weapons Convention or Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction, as applicable.

“(v) Whether, and to what extent, the government in question is providing or otherwise voluntarily disclosing substantive information to relevant international organizations.”; and

(C) in paragraph (4) (as redesignated)—

(i) in the first sentence, by inserting “or (3)” after “paragraph (1)”;

(ii) in the second sentence, by inserting “under paragraph (1)” after “determination”; and

(iii) by adding at the end the following: “If the determination under paragraph (3) is that a foreign government had engaged in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state, the report shall specify the sanctions to be imposed pursuant to section 507A.”; and

(2) in subsection (b)—

(A) in paragraph (1)—

(i) by striking “whether a particular foreign government” and inserting the following: “whether—

“(A) a particular foreign government”;

(ii) by striking the period at the end and inserting “; or”; and

(iii) by adding at the end the following:

“(B) a particular foreign government, on or after January 1, 2020, has engaged in an act of acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state.”; and

(B) in paragraph (2)—

(i) in the first sentence—

(I) by striking “whether the specified government” and inserting the following: “whether—

“(A) the specified government”;

(II) by striking the period at the end and inserting “; or”; and

(III) by adding at the end the following:

“(B) the specified government, on or after January 1, 2020, has engaged in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of the government of a foreign state.”; and

(ii) in the second sentence—

(I) by inserting “or (3)(B), as applicable” after “subsection (a)(2)”; and

(II) by moving the margin of the second sentence so it has the same level of indentation as margin of the matter preceding subparagraph (A) of the first sentence.

(c) Sanctions against foreign states with respect to chemical or biological programs.—The Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (22 U.S.C. 5601 et seq.) is amended by inserting after section 507 the following:

(a) In general.—Not later than 180 days after the date of the enactment of this Act, the President shall determine whether reasonable grounds exist for concluding that the Government of the People’s Republic of China meets the criteria for engaging in an act or acts of gross negligence with respect to a chemical or biological program owned, controlled, or directed by, or subject to the jurisdiction of that government under section 506(a)(3) of the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991, as amended by section 3 of this Act.

(b) Report required.—

(1) IN GENERAL.—Not later than 30 days after making a determination under subsection (a), the President shall submit to the appropriate congressional committees a report that includes the reasons for the determination.

(2) FORM.—A report required by paragraph (1) shall be submitted in unclassified form but may include a classified annex.

(a) In general.—The President shall, not later than 180 days after the date of the enactment of this Act, prescribe regulations as necessary for the implementation of sections 212 and 213 of this Act and the amendments made by this Act.

(b) Notification to congress.—Not later than 10 days before the prescription of regulations under subsection (a), the President shall notify the appropriate congressional committees regarding the proposed regulations and the provisions of this Act and the amendments made by this Act that the regulations are implementing.

In this Act, the term “appropriate congressional committees” means—

Notwithstanding any other provision of law, none of the activities authorized for the National Science Foundation and National Institutes of Health may include, conduct, or support any research—

Part I of title 18, United States Code, is amended by inserting after chapter 51 the following:

The table of chapters for part I of title 18, United States Code, is amended by inserting after the item relating to chapter 51 the following:

(a) In general.—The Foreign Agents Registration Act of 1938, as amended (22 U.S.C. 611 et seq.) is amended by inserting after section 3 the following:

(b) Conforming amendments.—

(1) REPEAL OF EXEMPTION.—Section 3 of such Act (22 U.S.C. 613) is amended—

(A) in subsection (d)(1), by striking “in private” and inserting “except as provided in section 3A(a), in private”; and

(B) in subsection (h), by striking “Any agent” and inserting “Except as provided in section 3A(b), any agent”.

(2) TIMING OF FILING OF REGISTRATION STATEMENTS.—Section 2(b) of such Act (22 U.S.C. 612(b)) is amended in the first sentence by striking “six months succeeding such filing” and inserting “six months succeeding such filing (except as provided in section 3A(b)(2))”.

(c) Effective date.—The amendments made by this Act shall take effect 180 days after the date of enactment of this Act.

This Act may be cited as the “Protecting America’s Agricultural Land from Foreign Harm Act of 2023”.

In this Act:

(a) In general.—Notwithstanding any other provision of law, the President shall take such actions as may be necessary to prohibit the purchase or lease by covered persons of—

(1) public agricultural land that is owned by the United States and administered by the head of any Federal department or agency, including the Secretary, the Secretary of the Interior, and the Secretary of Defense; or

(2) private agricultural land located in the United States.

(b) Implementation.—The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out subsection (a).

(c) Penalties.—A person that knowingly violates, attempts to violate, conspires to violate, or causes a violation of subsection (a) or any regulation, license, or order issued to carry out that subsection shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) to the same extent as a person that commits an unlawful act described in subsection (a) of that section.

(d) Rule of construction.—Nothing in this section may be construed—

(1) to prohibit or otherwise affect the purchase or lease of public or private agricultural land described in subsection (a) by any person other than a covered person;

(2) to prohibit or otherwise affect the use of public or private agricultural land described in subsection (a) that is transferred to or acquired by a person other than a covered person from a covered person; or

(3) to require a covered person that owns or leases public or private agricultural land described in subsection (a) as of the date of enactment of this Act to sell that land.

(a) In general.—Except as provided in subsection (b), notwithstanding any other provision of the law, the President shall take such actions as may be necessary to prohibit participation in Department of Agriculture programs by covered persons that have full or partial ownership of agricultural land in the United States or lease agricultural land in the United States.

(b) Exclusions.—Subsection (a) shall not apply to participation in any program—

(1) relating to—

(A) food inspection or any other food safety regulatory requirements; or

(B) health and labor safety of individuals; or

(2) administered by the Farm Service Agency, with respect to the administration of this Act or the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501 et seq.).

(c) Proof of citizenship.—To participate in a Department of Agriculture program described in subsection (b) (except for a program under this Act or the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501 et seq.)), a person described in subparagraph (A) of section 2(2) that is a person described in subparagraph (B) of that section shall submit to the Secretary proof that the person is described in subparagraph (B) of that section.

(a) Inclusion of security interests and leases in reporting requirements.—

(1) IN GENERAL.—Section 9 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3508) is amended—

(A) by redesignating paragraphs (4) through (6) as paragraphs (5) through (7), respectively; and

(B) by inserting after paragraph (3) the following:

“(4) the term ‘interest’ includes—

“(A) a security interest; and

“(B) a lease, without regard to the duration of the lease;”.

(2) CONFORMING AMENDMENT.—Section 2 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501) is amended by striking “, other than a security interest,” each place it appears.

(b) Civil penalty.—Section 3 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3502) is amended—

(1) in subsection (b), by striking “exceed 25 percent” and inserting “be less than 15 percent, or exceed 30 percent,”; and

(2) by adding at the end the following:

“(c) Liens.—On imposing a penalty under subsection (a), the Secretary shall ensure that a lien is placed on the agricultural land with respect to which the violation occurred, which shall be released only on payment of the penalty.”.

(c) Transparency.—

(1) IN GENERAL.—Section 7 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3506) is amended to read as follows:

(2) DEADLINE FOR DATABASE ESTABLISHMENT.—Section 773 of division A of the Consolidated Appropriations Act, 2023 (Public Law 117– 328), is amended, in the first proviso, by striking “3 years” and inserting “2 years”.

(d) Definition of foreign person.—Section 9(3) of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3508(3)) is amended—

(1) in subparagraph (C)(ii)(IV), by striking “and” at the end;

(2) in subparagraph (D), by inserting “and” after the semicolon; and

(3) by adding at the end the following:

“(E) any person, other than an individual or a government, that issues equity securities that are primarily traded on a foreign securities exchange within—

“(i) Iran;

“(ii) North Korea;

“(iii) the People’s Republic of China; or

“(iv) the Russian Federation;”.

(a) Report from the secretary on foreign ownership of agricultural land in the united states.—

(1) IN GENERAL.—Not later than 1 year after the date of enactment of this Act, and once every 2 years thereafter, the Secretary shall submit to Congress a report describing—

(A) the risks and benefits, as determined by the Secretary, that are associated with foreign ownership or lease of agricultural land in rural areas (as defined in section 520 of the Housing Act of 1949 (42 U.S.C. 1490));

(B) the intended and unintended misrepresentation of foreign land ownership in the annual reports prepared by the Secretary describing foreign holdings of agricultural land due to inaccurate reporting of foreign holdings of agricultural land;

(C) the specific work that the Secretary has undertaken to monitor erroneous reporting required by the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501 et seq.) that would result in a violation or civil penalty; and

(D) the role of State and local government authorities in tracking foreign ownership of agricultural land in the United States.

(2) PROTECTION OF INFORMATION.—In carrying out paragraph (1), the Secretary shall establish a plan to ensure the protection of personally identifiable information.

(b) Report from the director of national intelligence on foreign ownership of agricultural land in the united states.—

(1) IN GENERAL.—Not later than 1 year after the date of enactment of this Act, and once every 2 years thereafter, the Director of National Intelligence shall submit to the congressional recipients described in paragraph (2) a report describing—

(A) an analysis of foreign malign influence (as defined in section 119C(e) of the National Security Act of 1947 (50 U.S.C. 3059(e))) by covered persons that have foreign ownership in the United States agriculture industry; and

(B) the primary motives, as determined by the Director of National Intelligence, of foreign investors to acquire agricultural land.

(2) CONGRESSIONAL RECIPIENTS DESCRIBED.—The report under paragraph (1) shall be submitted to—

(A) the Committee on Banking, Housing, and Urban Affairs of the Senate;

(B) the Committee on Agriculture, Nutrition, and Forestry of the Senate;

(C) the Select Committee on Intelligence of the Senate;

(D) the Committee on Foreign Relations of the Senate;

(E) the Committee on Financial Services of the House of Representatives;

(F) the Committee on Agriculture of the House of Representatives;

(G) the Permanent Select Committee on Intelligence of the House of Representatives;

(H) the Committee on Foreign Affairs of the House of Representatives;

(I) the majority leader of the Senate;

(J) the minority leader of the Senate;

(K) the Speaker of the House of Representatives; and

(L) the minority leader of the House of Representatives.

(3) CLASSIFICATION.—The report under paragraph (1) shall be submitted in an unclassified form, but may include a classified annex.

(c) Government accountability office report.—Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report describing—

(1) a review of resources, staffing, and expertise for carrying out the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501 et seq.), and enforcement issues limiting the effectiveness of that Act; and

(2) any recommended necessary changes to that Act.

(a) Report to congress.—Not later than 180 days after the date of the enactment of this Act, the Secretary of Health and Human Services (in this section referred to as the “Secretary”), acting through the Commissioner of Food and Drugs, shall submit to Congress a report on barriers, including regulatory inefficiencies, to domestic manufacturing of active pharmaceutical ingredients, finished drug products, and devices that are—

(1) imported from outside of the United States; and

(2) critical to the public health during a public health emergency declared by the Secretary under section 319 of the Public Health Service Act (42 U.S.C. 247(d).

(b) Content.—Such report shall—

(1) identify factors that limit the manufacturing of active pharmaceutical ingredients, finished drug products, and devices described in subsection (a); and

(2) recommend specific strategies to overcome the challenges identified under paragraph (1).

(c) Implementation.—The Secretary may, to the extent appropriate, implement the strategies recommended under subsection (b)(2).

(d) Definition.—In this section, the term “active pharmaceutical ingredient” has the meaning given to such term in section 744A of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 379j–41).

(a) Accelerated depreciation for nonresidential real property.—Section 168 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:

“(n) Accelerated depreciation for nonresidential real property acquired in connection with the relocation of manufacturing to the united states.—

“(1) TREATMENT AS 20-YEAR PROPERTY.—For purposes of this section, qualified nonresidential real property shall be treated as 20-year property.

“(2) APPLICATION OF BONUS DEPRECIATION.—For application of bonus depreciation to qualified nonresidential real property, see subsection (k).

“(3) QUALIFIED NONRESIDENTIAL REAL PROPERTY.—For purposes of this subsection, the term ‘qualified nonresidential real property’ means nonresidential real property placed in service in the United States by a qualified manufacturer if such property is acquired by such qualified manufacturer in connection with a qualified relocation of manufacturing.

“(4) QUALIFIED MANUFACTURER.—For purposes of this subsection, the term ‘qualified manufacturer’ means any person engaged in the trade or business of manufacturing any tangible personal property.

“(5) QUALIFIED RELOCATION OF MANUFACTURING.—For purposes of this subsection—

“(A) IN GENERAL.—The term ‘qualified relocation of manufacturing’ means, with respect to any qualified manufacturer, the relocation of the manufacturing of any tangible personal property from a foreign country to the United States.

“(B) RELOCATION OF PROPERTY NOT REQUIRED.—For purposes of subparagraph (A), manufacturing shall not fail to be treated as relocated merely because property used in such manufacturing was not relocated.

“(C) RELOCATION OF NOT LESS THAN EQUIVALENT PRODUCTIVE CAPACITY REQUIRED.—For purposes of subparagraph (A), manufacturing shall not be treated as relocated unless the property manufactured in the United States is substantially identical to the property previously manufactured in a foreign country and the increase in the units of production of such property in the United States by the qualified manufacturer is not less than the reduction in the units of production of such property in such foreign country by such qualified manufacturer.

“(6) APPLICATION TO POSSESSIONS OF THE UNITED STATES.—For purposes of this subsection, the term ‘United States’ includes any possession of the United States.”.

(b) Exclusion of gain on disposition of property in connection with qualified relocation of manufacturing.—

(1) IN GENERAL.—Part III of subchapter B of chapter 1 of such Code is amended by inserting after section 139I the following new section:

(2) CLERICAL AMENDMENT.—The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 139I the following new item:

“Sec. 139J. Exclusion of gain on disposition of property in connection with qualified relocation of manufacturing.”.

(c) Effective dates.—

(1) ACCELERATED DEPRECIATION.—The amendment made by subsection (a) shall apply to property placed in service after the date of the enactment of this Act.

(2) EXCLUSION OF GAIN.—The amendments made by subsection (b) shall apply to sales and exchanges after the date of the enactment of this Act.

(a) In general.—Paragraph (6) of section 168(k) of the Internal Revenue Code of 1986 is amended to read as follows:

“(6) APPLICABLE PERCENTAGE.—For purposes of this subsection, the term ‘applicable percentage’ means, in the case of property placed in service (or, in the case of a specified plant described in paragraph (5), a plant which is planted or grafted) after September 27, 2017, 100 percent.”.

(b) Conforming amendments.—

(1) Section 168(k) of the Internal Revenue Code of 1986 is amended—

(A) in paragraph (2)—

(i) in subparagraph (A)—

(I) in clause (i)(V), by inserting “and” at the end;

(II) in clause (ii), by striking “clause (ii) of subparagraph (E), and” and inserting “clause (i) of subparagraph (E).”; and

(III) by striking clause (iii);

(ii) in subparagraph (B)—

(I) in clause (i)—

(aa) by striking subclauses (II) and (III); and

(bb) by redesignating subclauses (IV) through (VI) as subclauses (II) through (IV), respectively;

(II) by striking clause (ii); and

(III) by redesignating clauses (iii) and (iv) as clauses (ii) and (iii), respectively;

(iii) in subparagraph (C)—

(I) in clause (i), by striking “and subclauses (II) and (III) of subparagraph (B)(i)”; and

(II) in clause (ii), by striking “subparagraph (B)(iii)” and inserting “subparagraph (B)(ii)”; and

(iv) in subparagraph (E)—

(I) by striking clause (i); and

(II) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and

(B) in paragraph (5)(A), by striking “planted before January 1, 2027, or is grafted before such date to a plant that has already been planted,” and inserting “planted or grafted”.

(2) Section 460(c)(6)(B) of such Code is amended by striking “which” and all that follows through the period and inserting “which has a recovery period of 7 years or less.”.

(c) Effective date.—The amendments made by this section shall take effect as if included in section 13201 of Public Law 115–97.

Section 102(b) of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (19 U.S.C. 4201(b)) is amended by adding at the end the following:

Section 103 of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (19 U.S.C. 4202) is amended—

(a) Statement of policy.—Section 2(b) of the Defense Production Act of 1950 (50 U.S.C. 4502) is amended—

(1) by redesignating paragraphs (3) through (8) as paragraphs (4) through (9), respectively; and

(2) by inserting after paragraph (2) the following:

“(3) authorities under this Act should be used when appropriate to ensure the availability of medical materials essential to national defense, including through measures designed to secure the drug supply chain, and taking into consideration the importance of United States competitiveness, scientific leadership and cooperation, and innovative capacity;”.

(b) Strengthening domestic capability.—Section 107 of the Defense Production Act of 1950 (50 U.S.C. 4517) is amended—

(1) in subsection (a), by inserting “(including medical materials)” after “materials”; and

(2) in subsection (b)(1), by inserting “(including medical materials such as drugs, devices, and biological products to diagnose, cure, mitigate, treat, or prevent disease that are essential to national defense)” after “essential materials”.

(c) Strategy on securing supply chains for medical materials.—Title I of the Defense Production Act of 1950 (50 U.S.C. 4511 et seq.) is amended by adding at the end the following:

(a) In general.—Section 303 of the Defense Production Act of 1950 (50 U.S.C. 4533) is amended by adding at the end the following:

“(h) Investment in supply chain security.—

“(1) IN GENERAL.—In addition to other authorities in this title, the President may make available to an eligible entity described in paragraph (2) payments to increase the security of supply chains and supply chain activities, if the President certifies to Congress not less than 30 days before making such a payment that the payment is critical to meet national defense requirements of the United States.

“(2) ELIGIBLE ENTITY.—An eligible entity described in this paragraph is an entity that—

“(A) is organized under the laws of the United States or any jurisdiction within the United States; and

“(B) produces—

“(i) one or more critical components;

“(ii) critical technology; or

“(iii) one or more products or raw materials for the security of supply chains or supply chain activities.

“(3) DEFINITIONS.—In this subsection, the terms ‘supply chain’ and ‘supply chain activities’ have the meanings given those terms by the President by regulation.”.

(b) Regulations.—

(1) IN GENERAL.—Not later than 90 days after the date of the enactment of this Act, the President shall prescribe regulations setting forth definitions for the terms “supply chain” and “supply chain activities” for the purposes of section 303(h) of the Defense Production Act of 1950 (50 U.S.C. 4533(h)), as added by subsection (a).

(2) SCOPE OF DEFINITIONS.—The definitions required by paragraph (1)—

(A) shall encompass—

(i) the organization, people, activities, information, and resources involved in the delivery and operation of a product or service used by the Government; or

(ii) critical infrastructure as defined in Presidential Policy Directive 21 (February 12, 2013; relating to critical infrastructure security and resilience); and

(B) may include variations as determined necessary and appropriate by the President for purposes of national defense.

(a) Definition of covered project.—Section 41001(6)(A) of the FAST Act (42 U.S.C. 4370(m)(6)(A)) is amended—

(1) in clause (i)(III), by striking “; or” and inserting a semicolon;

(2) in clause (ii)(II), by striking the period and inserting “; or”; and

(3) by adding at the end the following:

“(iii) is related to the extraction, recovery, or processing from coal, coal waste, coal processing waste, pre- or post-combustion coal byproducts, or acid mine drainage from coal mines of one of the following materials:

“(I) Critical minerals (as such term is defined in section 7002 of the Energy Act of 2020).

“(II) Rare earth elements.

“(III) Microfine carbon or carbon from coal.”.

(b) Report.—Not later than 6 months after the date of enactment of this Act, the Secretary of the Interior shall submit to the Committees on Energy and Natural Resources and Commerce, Science, and Transportation of the Senate and the Committees on Transportation and Infrastructure, Natural Resources, and Energy and Commerce of the House of Representatives a report evaluating the timeliness of implementation of reforms of the permitting process required as a result of the amendments made by this Act on the following:

(1) The economic and national security of the United States.

(2) Domestic production and supply of critical minerals, rare earths, and microfine carbon or carbon from coal.

(a) In general.—Paragraph (6) of section 168(k) of the Internal Revenue Code of 1986 is amended to read as follows:

“(6) APPLICABLE PERCENTAGE.—For purposes of this subsection, the term ‘applicable percentage’ means, in the case of property placed in service (or, in the case of a specified plant described in paragraph (5), a plant which is planted or grafted) after September 27, 2017, 100 percent.”.

(b) Conforming amendments.—

(1) Section 168(k) of the Internal Revenue Code of 1986 is amended—

(A) in paragraph (2)—

(i) in subparagraph (A)—

(I) in clause (i)(V), by inserting “and” at the end;

(II) in clause (ii), by striking “clause (ii) of subparagraph (E), and” and inserting “clause (i) of subparagraph (E).”; and

(III) by striking clause (iii);

(ii) in subparagraph (B)—

(I) in clause (i)—

(aa) by striking subclauses (II) and (III); and

(bb) by redesignating subclauses (IV) through (VI) as subclauses (II) through (IV), respectively;

(II) by striking clause (ii); and

(III) by redesignating clauses (iii) and (iv) as clauses (ii) and (iii), respectively;

(iii) in subparagraph (C)—

(I) in clause (i), by striking “and subclauses (II) and (III) of subparagraph (B)(i)”; and

(II) in clause (ii), by striking “subparagraph (B)(iii)” and inserting “subparagraph (B)(ii)”; and

(iv) in subparagraph (E)—

(I) by striking clause (i); and

(II) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and

(B) in paragraph (5)(A), by striking “planted before January 1, 2027, or is grafted before such date to a plant that has already been planted,” and inserting “planted or grafted”.

(2) Section 460(c)(6)(B) of such Code is amended by striking “which” and all that follows through the period and inserting “which has a recovery period of 7 years or less.”.

(c) Effective date.—The amendments made by this section shall take effect as if included in section 13201 of Public Law 115–97.

(a) In general.—Section 174 of the Internal Revenue Code of 1986 is amended to read as follows:

(b) Clerical amendment.—The table of sections for part VI of subchapter B of chapter 1 of such Code is amended by striking the item relating to section 174 and inserting the following new item:

“Sec. 174. Research and experimental expenditures.”.

(c) Conforming amendments.—

(1) Section 41(d)(1)(A) of such Code is amended by striking “specified research or experimental expenditures under section 174” and inserting “expenses under section 174”.

(2) Section 280C(c) of such Code is amended to read as follows:

“(c) Credit for increasing research activities.—

“(1) IN GENERAL.—No deduction shall be allowed for that portion of the qualified research expenses (as defined in section 41(b)) or basic research expenses (as defined in section 41(e)(2)) otherwise allowable as a deduction for the taxable year which is equal to the amount of the credit determined for such taxable year under section 41(a).

“(2) SIMILAR RULE WHERE TAXPAYER CAPITALIZES RATHER THAN DEDUCTS EXPENSES.—If—

“(A) the amount of the credit determined for the taxable year under section 41(a)(1), exceeds

“(B) the amount allowable as a deduction for such taxable year for qualified research expenses or basic research expenses (determined without regard to paragraph (1)),

the amount chargeable to capital account for the taxable year for such expenses shall be reduced by the amount of such excess.

“(3) ELECTION OF REDUCED CREDIT.—

“(A) IN GENERAL.—In the case of any taxable year for which an election is made under this paragraph—

“(i) paragraphs (1) and (2) shall not apply, and

“(ii) the amount of the credit under section 41(a) shall be the amount determined under subparagraph (B).

“(B) AMOUNT OF REDUCED CREDIT.—The amount of credit determined under this subparagraph for any taxable year shall be the amount equal to the excess of—

“(i) the amount of credit determined under section 41(a) without regard to this paragraph, over

“(ii) the product of—

“(I) the amount described in clause (i), and

“(II) the rate of tax under section 11(b).

“(C) ELECTION.—An election under this paragraph for any taxable year shall be made not later than the time for filing the return of tax for such year (including extensions), shall be made on such return, and shall be made in such manner as the Secretary may prescribe. Such an election, once made, shall be irrevocable.

“(4) CONTROLLED GROUPS.—Paragraph (3) of subsection (b) shall apply for purposes of this subsection.”.

(d) Effective date.—The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2021.

(a) Repeal.—The Executive order relating to the revocation of certain Executive orders concerning Federal regulation, signed on January 20, 2021, is hereby rescinded.

(b) Codification of executive orders.—The following Executive orders shall have the force and effect of law:

(1) Executive Order 13771 (82 Fed. Reg. 12866; relating to reducing regulation and controlling regulatory costs).

(2) Executive Order 13777 (82 Fed. Reg. 12285; relating to enforcing the regulatory reform agenda).

(3) Executive Order 13891 (84 Fed. Reg. 55235; relating to improving agency guidance documents).

(4) Executive Order 13892 (84 Fed. Reg. 55239; relating to transparency in administrative enforcement and adjudication).

(5) Executive Order 13893 (84 Fed. Reg. 55487; relating to accountability for administrative actions).

(a) Section 127(b)(2) of the Internal Revenue Code of 1986 is amended to read as follows:

“(2) MAXIMUM EXCLUSION.—

“(A) IN GENERAL.—If but for this paragraph, this section would exclude from gross income more than the maximum amount of educational assistance furnished to an individual during a calendar year, this section shall apply only to the maximum amount of such assistance so furnished.

“(B) MAXIMUM AMOUNT.—For purposes of subparagraph (B), the term ‘maximum amount’ means, for any calendar year, an amount equal to the applicable dollar amount for elective deferrals described in section 402(g)(1)(B) (as such amount is adjusted for inflation for such calendar year).”.

(b) Effective date.—The amendment made by this section shall apply to educational assistance furnished in taxable years beginning after December 31, 2020.

(a) In general.—Section 174 of the Internal Revenue Code of 1986 is amended to read as follows:

(b) Clerical amendment.—The table of sections for part VI of subchapter B of chapter 1 of such Code is amended by striking the item relating to section 174 and inserting the following new item:

“Sec. 174. Research and experimental expenditures.”.

(c) Conforming amendments.—

(1) Section 41(d)(1)(A) of such Code is amended by striking “specified research or experimental expenditures under section 174” and inserting “expenses under section 174”.

(2) Section 280C(c) of such Code is amended to read as follows:

“(c) Credit for increasing research activities.—

“(1) IN GENERAL.—No deduction shall be allowed for that portion of the qualified research expenses (as defined in section 41(b)) or basic research expenses (as defined in section 41(e)(2)) otherwise allowable as a deduction for the taxable year which is equal to the amount of the credit determined for such taxable year under section 41(a).

“(2) SIMILAR RULE WHERE TAXPAYER CAPITALIZES RATHER THAN DEDUCTS EXPENSES.—If—

“(A) the amount of the credit determined for the taxable year under section 41(a)(1), exceeds

“(B) the amount allowable as a deduction for such taxable year for qualified research expenses or basic research expenses (determined without regard to paragraph (1)),

the amount chargeable to capital account for the taxable year for such expenses shall be reduced by the amount of such excess.

“(3) ELECTION OF REDUCED CREDIT.—

“(A) IN GENERAL.—In the case of any taxable year for which an election is made under this paragraph—

“(i) paragraphs (1) and (2) shall not apply, and

“(ii) the amount of the credit under section 41(a) shall be the amount determined under subparagraph (B).

“(B) AMOUNT OF REDUCED CREDIT.—The amount of credit determined under this subparagraph for any taxable year shall be the amount equal to the excess of—

“(i) the amount of credit determined under section 41(a) without regard to this paragraph, over

“(ii) the product of—

“(I) the amount described in clause (i), and

“(II) the rate of tax under section 11(b).

“(C) ELECTION.—An election under this paragraph for any taxable year shall be made not later than the time for filing the return of tax for such year (including extensions), shall be made on such return, and shall be made in such manner as the Secretary may prescribe. Such an election, once made, shall be irrevocable.

“(4) CONTROLLED GROUPS.—Paragraph (3) of subsection (b) shall apply for purposes of this subsection.”.

(d) Effective date.—The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2021.

(a) Funding restricted.—An institution of higher education or other post-secondary educational institution shall not be eligible to receive Federal funds (except funds under title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.) or other Department of Education funds that are provided directly to students) if such institution:

(1) has a contractual partnership in effect with an entity that is owned or controlled, directly or indirectly, by the Government of the People’s Republic of China;

(2) has a contractual partnership in effect with an entity that is organized under the laws of the People’s Republic of China; or

(3) employs a CCP-funded instructor.

(b) Restoring eligibility.—An institution ineligible to receive Federal funds under subsection (a) may reestablish eligibility by—

(1) in the case of a contractual partnership with an entity described in subsection (a)(1) or (a)(2):

(A) disclosing to the Secretary of Education all contractual partnerships with the applicable entity from the previous 10 years; and

(B) providing to the Secretary of Education sufficient evidence that such partnerships have been terminated; or

(2) in the case of the employment of a CCP-funded instructor as described in subsection (a)(3), by demonstrating, to the satisfaction of the Secretary of Education, that the institution no longer employs a CCP-funded instructor.

(c) CCP-Funded instructor defined.—In this section, the term “CCP-funded instructor” means a professor, teacher, or any other individual who—

(1) provides instruction directly to the students of an institution of higher education; and

(2) received funds, directly or indirectly, from the Chinese Communist Party while employed by such institution.

(d) Effective date.—The restrictions under this section shall take effect 180 days after the date of the enactment of this Act.

(a) Limitation on exemption.—Section 3(e) of the Foreign Agents Registration Act of 1938 (22 U.S.C. 613(e)) is amended by striking the semicolon at the end and inserting the following: “, but only if the activities do not promote the political agenda of a government of a foreign country;”.

(b) Effective date.—The amendment made by subsection (a) shall apply with respect to activities carried out on or after the date of the enactment of this Act.

With respect to a principal nonimmigrant exchange visitor admitted into the United States in the J–1 classification under section 101(a)(15)(J) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15)(J)) in order to study, the Secretary of State shall take such action as may be necessary to ensure that the applicable program sponsor is required to use the Student and Exchange Visitor Information System to report any change to the nonimmigrant’s primary field of study. In carrying out this section, the Secretary of State shall take into account the record keeping and reporting requirements of the Secretary of Homeland Security with regard to nonimmigrants admitted into the United States in the F–1 and M–1 classifications under subparagraphs (F) and (M) of section 101(a)(15) of such Act (8 U.S.C. 1101(a)(15)).

(a) In general.—With respect to a principal nonimmigrant admitted into the United States in the J–1 classification under section 101(a)(15)(J) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15)(J)), in the F–1 classification under section 101(a)(15)(F) of such Act, or in the M–1 classification under section 101(a)(15)(M) of such Act, the Secretary of State and the Secretary of Homeland Security shall take such action as may be necessary to ensure that the applicable program sponsor or academic or nonacademic institution is required to use the Student and Exchange Visitor Information System to report when the nonimmigrant is participating in a research program funded in whole or in part through a grant, contract, or other similar form of support provided by the Federal Government, as well as program identification information.

(b) Notifications.—

(1) SECRETARY.—In the case of a nonimmigrant described in subsection (a), the Secretary of Homeland Security shall notify the appropriate program manager at an Executive agency (as defined in section 105 of title 5, United States Code) if and when the Secretary obtains information that the nonimmigrant is participating in a research program funded in whole or in part through a grant, contract, or other similar form of support provided by such agency prior to the commencement of that nonimmigrant’s participation and not later than 21 days after authorizing such participation.

(2) SPONSOR OR INSTITUTION.—In the case of a nonimmigrant described in subsection (a), the applicable program sponsor or academic or nonacademic institution shall notify the appropriate program manager at an Executive agency (as defined in section 105 of title 5, United States Code) if and when the sponsor or institution obtains information that the nonimmigrant is participating in a research program funded in whole or in part through a grant, contract, or other similar form of support provided by such agency prior to the commencement of that nonimmigrant’s participation and not later than 21 days after authorizing such participation.

(a) In general.—The Secretary of Homeland Security shall have the authority to review and revoke a nonimmigrant visa granted under subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15)) if, in consultation with the Attorney General, the Secretary finds that—

(1) the visa holder has misrepresented his or her intention to pursue a certain program or field of study;

(2) following a change to the nonimmigrant’s primary field of study as described under section 504, that the new primary field of study would have triggered a higher level of scrutiny during the visa application process, and that the visa holder poses a risk to the homeland security of the United States, the national security of the United States, or research integrity at their applicable program sponsor or institution;

(3) the visa holder’s enrollment in a research program funded in whole or in part through a grant, contract, or other similar form of support provided by the Federal Government poses a risk to the homeland security of the United States, the national security of the United States, or research integrity at their applicable program sponsor or institution; or

(4) the visa was granted to an alien who is a citizen of the People’s Republic of China if the Secretary of State determines that the alien seeks to enter the United States to participate in graduate-level or post-graduate-level coursework or academic research in a field of science, technology, engineering, or mathematics at an institution of higher education.

(b) Notice.—Thirty days before the commencement of a review under subsection (a), the Secretary of Homeland Security shall provide the applicable program sponsor or institution with a notice containing the specific basis of the forthcoming review. During this 30-day period, the program sponsor or institution may take corrective action to alleviate any concerns raised by the Secretary. At the conclusion of the 30-day period, the Secretary shall determine whether the program sponsor or institution has satisfactorily addressed the concerns or a review remains necessary.

(c) Administrative and judicial review.—

(1) IN GENERAL.—There shall be no administrative or judicial review of a determination to revoke a visa under this section except in accordance with this subsection.

(2) ADMINISTRATIVE REVIEW.—

(A) SINGLE LEVEL OF ADMINISTRATIVE APPELLATE REVIEW.—The Secretary of Homeland Security shall establish an appellate authority to provide for a single level of administrative appellate review of such a determination.

(B) STANDARD FOR REVIEW.—Such administrative appellate review shall be based solely upon the administrative record established at the time of the determination and upon such additional or newly discovered evidence as may not have been available at the time of the determination.

(3) JUDICIAL REVIEW.—

(A) LIMITATION TO REVIEW OF REMOVAL.—There shall be judicial review of a determination to revoke a visa under this section only in the judicial review of an order of removal under section 242 of the Immigration and Nationality Act (8 U.S.C. 1252).

(B) STANDARD FOR JUDICIAL REVIEW.—Such judicial review shall be based solely upon the administrative record established at the time of the review by the appellate authority and the findings of fact and determinations contained in such record shall be conclusive unless the applicant can establish abuse of discretion or that the findings are directly contrary to clear and convincing facts contained in the record considered as a whole.

(a) In general.—The Secretary of Homeland Security shall require the Academic Institutions Subcommittee of the Homeland Security Advisory Council of the Department of Homeland Security to provide an annual report to the Committee on the Judiciary, the Committee on Homeland Security, and the Committee on Foreign Affairs of the House of Representatives, and the Committee on the Judiciary, the Committee on Homeland Security and Governmental Affairs, and the Committee on Foreign Relations of the Senate, on—

(1) the implementation and execution of any visa reviews and revocations undertaken under section 506;

(2) the number of alien students enrolled at academic or nonacademic institutions in the United States, disaggregated by—

(A) program of study;

(B) previous and current nationality; and

(C) participation in a research program (which may or may not be classified) funded in whole or in part through a grant, contract, or other similar form of support provided by the Federal Government, differentiated by agency, sub-agency, and program; and

(3) the number of alien students who have changed their field of study, including their original and subsequent field of study, disaggregated by the information described in subparagraphs (A), (B), and (C) of paragraph (2).

(b) Appendix.—Each report under subsection (a) shall include an appendix containing any feedback provided on a voluntary basis by any program sponsor or institution affected by a visa review or revocation undertaken under section 506.

(a) Sensitive research project list.—The Office of the Director of National Intelligence shall, in consultation with the National Security Advisor shall actively maintain a list of sensitive research projects. Such list shall—

(1) be referred to as the Sensitive Research Projects List; and

(2) for each project included on the list, indicate—

(A) the qualified funding agency that is funding the project;

(B) whether the project is open to student participation; and

(C) whether the project is related to—

(i) an item listed on the Commerce Control List (CCL) maintained by the Department of Commerce;

(ii) an item listed on the United States Munitions List maintained by the Department of State; or

(iii) technology designated by the Secretary of Defense as having a technology readiness level of 1, 2, or 3.

(b) Report to congress.—Not later than one year after the date of enactment of this Act, and every six months thereafter, the interagency working group described in section 1746 of the National Defense Authorization Act for Fiscal Year 2020 (42 U.S.C. 6601 note) shall provide a report to the Committee on Education and the Workforce, the Committee on Armed Services, and the Permanent Select Committee on Intelligence of the House of Representatives, and to the Committee on Health, Education, Labor, and Pensions, the Committee on Armed Services, and the Select Committee on Intelligence of the Senate, regarding the threat of espionage at institutions of higher education. In each such briefing, the interagency working group shall identify actions that may be taken to reduce espionage carried out through student participation in sensitive research projects. The interagency working group shall also include in this report an assessment of whether the current licensing regulations relating to the International Traffic in Arms Regulations and the Export Administration Regulations are sufficient to protect the security of the projects listed on the Sensitive Research Project List.

(a) Approval of foreign student participation required.—Beginning on the date that is one year after the date of enactment of this Act, for each project on the Sensitive Research Project List that is open to student participation, the head of such project at the institution of higher education at which the project is being carried out shall ensure that each student participating in such project shall be required to provide proof of citizenship before the student is permitted to participate in such project. A student who is a citizen of a country identified in subsection (b) shall be permitted to participate in such a project only if—

(1) the student applies for, and receives approval from, the Director of National Intelligence to participate in such project, based on a background check and any other information the Director determines to be appropriate; and

(2) in the case of such a project that is related to an item or technology described in subparagraph (C) of section 3(c)(2), the student applies for, and receives approval from, the head of the qualified funding agency, to participate in such project.

(b) List of citizenship requiring approval.—Approval under subsection (a) shall be required for any student who is a citizen of a country that is one of the following:

(1) The People’s Republic of China.

(2) The Democratic People’s Republic of Korea.

(3) The Russian Federation.

(4) The Islamic Republic of Iran.

(5) Any country identified by the head of the qualified funding agency as requiring approval for the purposes of this section.

(a) List of foreign entities that pose an intelligence threat.—Not later than one year after the date of the enactment of this Act, the Director of National Intelligence shall identify foreign entities, including governments, corporations, non-profit and for-profit organizations, and any subsidiary or affiliate of such an entity, that the Director determines pose a threat of espionage with respect to sensitive research projects, and shall develop and maintain a list of such entities. The Director may add or remove entities from such list at any time. The initial list developed by the Director shall include the following entities (including any subsidiary or affiliate):

(1) Huawei Technologies Company.

(2) ZTE Corporation.

(3) Hytera Communications Corporation.

(4) Hangzhou Hikvision Digital Technology Company.

(5) Dahua Technology Company.

(6) Kaspersky Lab.

(7) Any entity that is owned or controlled by, or otherwise has demonstrated financial ties to, the government of a country identified under section 4(b).

(b) Notice to institutions of higher education.—The Director of National Intelligence shall make the initial list required under subsection (a), and any changes to such list, available to the Secretary of Education, the interagency working group, and the head of each qualified funding agency as soon as practicable. The Secretary of Education shall provide such initial list and subsequent amendments to each institution of higher education at which a project on the Sensitive Research Project List is being carried out.

(c) Prohibition on use of certain technologies.—Beginning on the date that is one year after the date of the enactment of this Act, the head of each sensitive research project shall, as a condition of receipt of funds from a qualified funding agency, provide an assurance to such qualified funding agency that, beginning on the date that is two years after the date of the enactment of this Act, any technology developed by an entity included on the list maintained under subsection (a) shall not be utilized in carrying out the sensitive research project.

The head of each qualified funding agency shall take such steps as may be necessary to enforce the provisions of sections 510 and 511 of this Act. Upon determination that the head of a sensitive research project has failed to meet the requirements of either section 510 or section 511, the head of a qualified funding agency may determine the appropriate enforcement action, including—

In this subtitle:

(a) In general.—Section 117 of the Higher Education Act of 1965 (20 U.S.C. 1011(f) is amended to read as follows: