3.0.0 5178 2022-12-29T09:03:22Z 2022-12-29T09:03:22Z Senate S 2022-12-01 117 ssfi00 Finance Committee Senate Standing Referred to 2022-12-01T21:40:34Z DITCH Act 117 9385 HR 2022-12-01 Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Identical bill CRS 2022-12-01 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-12-01 Introduced in Senate IntroReferral 10000 9 Library of Congress H001089 Sen. Hawley, Josh [R-MO] Josh Hawley R MO N Taxation Taxation 00 2022-12-01 Introduced in Senate 2022-12-08T22:09:40Z Dump Investments in Troublesome Communist Holdings Act or the DITCH Act

This bill denies an organization a tax exemption if it holds any interest in a disqualified Chinese company or fails to timely transmit required annual reports. A disqualified Chinese company is any corporation incorporated in China, or that invests more than 10% of its stock in certain Chinese entities, including entities controlled by the Chinese Communist Party.

The Department of the Treasury may grant organizations a waiver of the denial of the tax exemption under specified circumstances.

Organizations that hold any interest in a disqualified Chinese company must file annual reports describing each interest held in the company, the period during which such interest was held, and whether the organization has been granted a waiver.

]]> DITCH Act Display Title DITCH Act Short Title(s) as Introduced DITCH Act Introduced in Senate IS Short Title(s) as Introduced Dump Investments in Troublesome Communist Holdings Act Introduced in Senate IS Official Title as Introduced A bill to impose restrictions on the investment in Chinese companies by tax-exempt entities. Introduced in Senate IS Introduced in Senate 2022-12-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s5178is/xml/BILLS-117s5178is.xml 2022-12-01 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.