[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8197 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 8197

  To require the Securities and Exchange Commission to assess whether 
certain information related to support from the Government of China is 
necessary or appropriate for the purposes of certain reports under the 
                securities laws, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 11, 2020

   Mr. Barr introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To require the Securities and Exchange Commission to assess whether 
certain information related to support from the Government of China is 
necessary or appropriate for the purposes of certain reports under the 
                securities laws, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Transparency in Chinese Government 
Investment Act of 2020''.

SEC. 2. ASSESSMENT OF INFORMATION WITH RESPECT TO SUPPORT FROM THE 
              GOVERNMENT OF CHINA.

    Not later than 360 days following the date of the enactment of this 
Act, the Securities and Exchange Commission, in consultation with the 
Secretary of the Treasury, shall submit to the Committee on Financial 
Services of the House of Representatives and the Committee on Banking, 
Housing, and Urban Affairs of the Senate a report assessing whether 
disclosure of any of the following by an issuer organized under the 
laws of the People's Republic of China qualifies as necessary or 
appropriate for the purposes of section 13(a) of the Securities 
Exchange Act of 1934:
            (1) Material financial support by an issuer for the 
        following industrial policies or development plans of the 
        Government of China:
                    (A) Made in China 2025.
                    (B) Military-Civil Fusion.
                    (C) Internet Plus.
                    (D) Guidelines to Promote the National Integrated 
                Circuit Foundry Development Plan.
                    (E) The China Integrated Circuit Investment 
                Industry Fund (or any similar fund at the provincial or 
                local level).
                    (F) Strategic Emerging Industries Initiative.
                    (G) New Generation Artificial Intelligence 
                Development plan.
            (2) Material financial support an issuer receives from the 
        Government of China in connection with the support described in 
        paragraph (1), including--
                    (A) direct subsidies, grants, loans, or loan 
                guarantees;
                    (B) reduction of taxes or tax exemptions;
                    (C) preferential treatment under the Government of 
                China procurement policies;
                    (D) access to research and development; and
                    (E) reduced prices for key inputs, including land, 
                power, and water.
            (3) Positions held by any individual as an officer or 
        director of an issuer, if the individual occupies a position 
        with--
                    (A) the Chinese Communist Party;
                    (B) the Government of China;
                    (C) the Central Committee of the Communist Party of 
                China;
                    (D) the Central Military Commission of China;
                    (E) the Chinese People's Political Consultative 
                Conference;
                    (F) the National People's Congress of China; or
                    (G) a State Council in China.

SEC. 3. DISCLOSURE REQUIREMENT.

    Not later than 180 days following submission of the report required 
under section 2, the Securities and Exchange Commission shall prescribe 
regulations requiring an issuer to disclose in any annual report 
required under section 13 of the Securities Exchange Act of 1934, and 
in any prospectus in connection with an initial public offering, the 
information assessed by the Commission in such report to be necessary 
or appropriate for the purposes of subsection (a) of such section 13.
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