Stop Funding the PLA Act

2021-02-18

Introduced in House

Stop Funding the PLA Act

This bill requires the Department of the Treasury to establish a list of entities the securities of which a U.S. person shall be prohibited from purchasing or holding.

Specifically, the Treasury must submit a report specifying each foreign industrial defense corporation with substantial contacts with, ties to, or support from any PLA entity (any entity of the Chinese military). The bill prohibits a U.S. person from purchasing a security of a foreign industrial defense corporation specified in the report, and it requires a U.S. person who owns any such security to divest themselves of it.

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