117 HR 5639 IH: Foreign Merger Subsidy Disclosure Act of 2021 U.S. House of Representatives 2021-10-20 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.

I117th CONGRESS1st SessionH. R. 5639IN THE HOUSE OF REPRESENTATIVESOctober 20, 2021Mr. Fitzgerald (for himself, Mr. Stanton, Ms. Speier, Mr. Loudermilk, Mr. Tiffany, Mr. Crawford, Ms. Sherrill, Mr. Gohmert, Mr. Stewart, Mr. Bishop of North Carolina, and Mr. Owens) introduced the following bill; which was referred to the Committee on the JudiciaryA BILLTo require disclosure of foreign government subsidies in the premerger notification process.

1.

Short title

This Act may be cited as the Foreign Merger Subsidy Disclosure Act of 2021.

2.

Mergers involving foreign government subsidies

(a)

Accounting for foreign government subsidies

A person required to file a notification required by section 7A of the Clayton Act (15 U.S.C. 18a) that received a subsidy from a foreign state shall include in such notification a detailed accounting of each such subsidy.(b)

Authority of antitrust regulators

The Federal Trade Commission, with the concurrence of the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice and by rule in accordance with section 553 of title 5, consistent with purposes of this section shall require that the notification required under subsection (a) be in such form and contain such documentary material and information relevant to a proposed acquisition as is necessary and appropriate to enable the Federal Trade Commission and the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice to determine whether such acquisition may, if consummated, violate the antitrust laws.

3.

Definitions

For the purposes of this Act:(a)

Foreign state

The term foreign state shall have the meaning given it in section 1603(a) of title 28, United States Code.(b)

Subsidy

The term subsidy includes a direct subsidy, a grant, a loan (including a below-market loan), a loan guarantee, a tax concession, a preferential governmental procurement policy, or other form of economic support including ownership or control by a foreign state.

4.

Effective date

This Act shall take effect 90 days after the date of the enactment of this Act.