[Congressional Record Volume 166, Number 95 (Wednesday, May 20, 2020)]
[Senate]
[Pages S2557-S2558]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 1589. Mr. KENNEDY (for himself, Mr. Rubio, Mr. Van Hollen, Mr. 
Menendez, Mr. Cramer, and Mr. Cotton) proposed an amendment to the bill 
S. 945, to amend the Sarbanes-Oxley Act of 2002 to require certain 
issuers to disclose to the Securities and Exchange Commission 
information regarding foreign jurisdictions that prevent the Public 
Company Accounting Oversight Board from performing inspections under 
that Act, and for other purposes; as follows:

        Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Holding Foreign Companies 
     Accountable Act''.

     SEC. 2. DISCLOSURE REQUIREMENT.

       Section 104 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
     7214) is amended by adding at the end the following:
       ``(i) Disclosure Regarding Foreign Jurisdictions That 
     Prevent Inspections.--
       ``(1) Definitions.--In this subsection--
       ``(A) the term `covered issuer' means an issuer that is 
     required to file reports under section 13 or 15(d) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78m, 78o(d)); and
       ``(B) the term `non-inspection year' means, with respect to 
     a covered issuer, a year--
       ``(i) during which the Commission identifies the covered 
     issuer under paragraph (2)(A) with respect to every report 
     described in subparagraph (A) filed by the covered issuer 
     during that year; and
       ``(ii) that begins after the date of enactment of this 
     subsection.
       ``(2) Disclosure to commission.--The Commission shall--
       ``(A) identify each covered issuer that, with respect to 
     the preparation of the audit report on the financial 
     statement of the covered issuer that is included in a report 
     described in paragraph (1)(A) filed by the covered issuer, 
     retains a registered public accounting firm that has a branch 
     or office that--
       ``(i) is located in a foreign jurisdiction; and
       ``(ii) the Board is unable to inspect or investigate 
     completely because of a position taken by an authority in the 
     foreign jurisdiction described in clause (i), as determined 
     by the Board; and
       ``(B) require each covered issuer identified under 
     subparagraph (A) to, in accordance with the rules issued by 
     the Commission under paragraph (4), submit to the Commission 
     documentation that establishes that the covered issuer is not 
     owned or controlled by a governmental entity in the foreign 
     jurisdiction described in subparagraph (A)(i).
       ``(3) Trading prohibition after 3 years of non-
     inspections.--
       ``(A) In general.--If the Commission determines that a 
     covered issuer has 3 consecutive non-inspection years, the 
     Commission shall prohibit the securities of the covered 
     issuer from being traded--
       ``(i) on a national securities exchange; or
       ``(ii) through any other method that is within the 
     jurisdiction of the Commission to regulate, including through 
     the method of trading that is commonly referred to as the 
     `over-the-counter' trading of securities.
       ``(B) Removal of initial prohibition.--If, after the 
     Commission imposes a prohibition on a covered issuer under 
     subparagraph (A), the covered issuer certifies to the 
     Commission that the covered issuer has retained a registered 
     public accounting firm that the Board has inspected under 
     this section to the satisfaction of the Commission, the 
     Commission shall end that prohibition.
       ``(C) Recurrence of non-inspection years.--If, after the 
     Commission ends a prohibition under subparagraph (B) or (D) 
     with respect to a covered issuer, the Commission determines 
     that the covered issuer has a non-inspection year, the 
     Commission shall prohibit the securities of the covered 
     issuer from being traded--
       ``(i) on a national securities exchange; or
       ``(ii) through any other method that is within the 
     jurisdiction of the Commission to regulate, including through 
     the method of trading that is commonly referred to as the 
     `over-the-counter' trading of securities.
       ``(D) Removal of subsequent prohibition.--If, after the end 
     of the 5-year period beginning on the date on which the 
     Commission imposes a prohibition on a covered issuer under 
     subparagraph (C), the covered issuer certifies to the 
     Commission that the covered issuer will retain a registered 
     public accounting firm that the Board is able to inspect 
     under this section, the Commission shall end that 
     prohibition.
       ``(4) Rules.--Not later than 90 days after the date of 
     enactment of this subsection, the Commission shall issue 
     rules that establish the manner and form in which a covered 
     issuer shall make a submission required under paragraph 
     (2)(B).''.

     SEC. 3. ADDITIONAL DISCLOSURE.

       (a) Definitions.--In this section--
       (1) the term ``audit report'' has the meaning given the 
     term in section 2(a) of the Sarbanes-Oxley Act of 2002 (15 
     U.S.C. 7201(a));
       (2) the term ``Commission'' means the Securities and 
     Exchange Commission;
       (3) the term ``covered form''--
       (A) means--
       (i) the form described in section 249.310 of title 17, Code 
     of Federal Regulations, or any successor regulation; and
       (ii) the form described in section 249.220f of title 17, 
     Code of Federal Regulations, or any successor regulation; and
       (B) includes a form that--
       (i) is the equivalent of, or substantially similar to, the 
     form described in clause (i) or (ii) of subparagraph (A); and
       (ii) a foreign issuer files with the Commission under the 
     Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or 
     rules issued under that Act;
       (4) the terms ``covered issuer'' and ``non-inspection 
     year'' have the meanings given the terms in subsection (i)(1) 
     of section 104 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
     7214), as added by section 2 of this Act; and
       (5) the term ``foreign issuer'' has the meaning given the 
     term in section 240.3b-4 of title 17, Code of Federal 
     Regulations, or any successor regulation.
       (b) Requirement.--Each covered issuer that is a foreign 
     issuer and for which, during a non-inspection year with 
     respect to the covered issuer, a registered public accounting 
     firm described in subsection (i)(2)(A) of section 104 of the 
     Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214), as added by 
     section 2 of this Act, has prepared an audit report shall 
     disclose in each covered form filed by that issuer that 
     covers such a non-inspection year--
       (1) that, during the period covered by the covered form, 
     such a registered public accounting firm has prepared an 
     audit report for the issuer;
       (2) the percentage of the shares of the issuer owned by 
     governmental entities in the foreign jurisdiction in which 
     the issuer is incorporated or otherwise organized;
       (3) whether governmental entities in the applicable foreign 
     jurisdiction with respect to that registered public 
     accounting firm have a controlling financial interest with 
     respect to the issuer;
       (4) the name of each official of the Chinese Communist 
     Party who is a member of the board of directors of--
       (A) the issuer; or
       (B) the operating entity with respect to the issuer; and
       (5) whether the articles of incorporation of the issuer (or 
     equivalent organizing document) contains any charter of the 
     Chinese Communist Party, including the text of any such 
     charter.

[[Page S2558]]

  

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  SA 1590. Mr. PORTMAN (for Mr. Alexander) proposed an amendment to the 
bill S. 1130, to amend the Public Health Service Act to improve the 
health of children and help better understand and enhance awareness 
about unexpected sudden death in early life; as follows:

        Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Scarlett's Sunshine on 
     Sudden Unexpected Death Act''.

     SEC. 2. AMENDMENT TO THE PUBLIC HEALTH SERVICE ACT.

       Part B of title XI of the Public Health Service Act (42 
     U.S.C. 241 et seq.) is amended--
       (1) in the part heading, by striking ``sudden infant death 
     syndrome'' and inserting ``sudden unexpected infant death, 
     sudden infant death syndrome, and sudden unexpected death in 
     childhood''; and
       (2) by inserting before section 1122 the following:

     ``SEC. 1121. ADDRESSING SUDDEN UNEXPECTED INFANT DEATH AND 
                   SUDDEN UNEXPECTED DEATH IN CHILDHOOD.

       ``(a) In General.--The Secretary may develop, support, or 
     maintain programs or activities to address sudden unexpected 
     infant death and sudden unexpected death in childhood, 
     including by--
       ``(1) continuing to support the Sudden Unexpected Infant 
     Death and Sudden Death in the Young Case Registry of the 
     Centers for Disease Control and Prevention and other fatality 
     case reporting systems that include data pertaining to sudden 
     unexpected infant death and sudden unexpected death in 
     childhood, as appropriate, including such systems supported 
     by the Health Resources and Services Administration, in order 
     to--
       ``(A) increase the number of States and jurisdictions 
     participating in such registries or systems; and
       ``(B) improve the utility of such registries or systems, 
     which may include--
       ``(i) making summary data available to the public in a 
     timely manner on the internet website of the Department of 
     Health and Human Services, in a manner that, at a minimum, 
     protects personal privacy to the extent required by 
     applicable Federal and State law; and
       ``(ii) making the data submitted to such registries or 
     systems available to researchers, in a manner that, at a 
     minimum, protects personal privacy to the extent required by 
     applicable Federal and State law; and
       ``(2) awarding grants or cooperative agreements to States, 
     Indian Tribes, and Tribal organizations for purposes of--
       ``(A) supporting fetal and infant mortality and child death 
     review programs for sudden unexpected infant death and sudden 
     unexpected death in childhood, including by establishing such 
     programs at the local level;
       ``(B) improving data collection related to sudden 
     unexpected infant death and sudden unexpected death in 
     childhood, including by--
       ``(i) improving the completion of death scene 
     investigations and comprehensive autopsies that include a 
     review of clinical history and circumstances of death with 
     appropriate ancillary testing; and
       ``(ii) training medical examiners, coroners, death scene 
     investigators, law enforcement personnel, emergency medical 
     technicians, paramedics, emergency department personnel, and 
     others who perform death scene investigations with respect to 
     the deaths of infants and children, as appropriate;
       ``(C) identifying, developing, and implementing best 
     practices to reduce or prevent sudden unexpected infant death 
     and sudden unexpected death in childhood, including practices 
     to reduce sleep-related infant deaths;
       ``(D) increasing the voluntary inclusion, in registries 
     established for the purpose of conducting research on sudden 
     unexpected infant death and sudden unexpected death in 
     childhood, of samples of tissues or genetic materials from 
     autopsies that have been collected pursuant to Federal or 
     State law and for which the parent or guardian has provided 
     informed consent for inclusion in such registries; or
       ``(E) disseminating information and materials to health 
     care professionals and the public on risk factors that 
     contribute to sudden unexpected infant death and sudden 
     unexpected death in childhood, which may include information 
     on risk factors that contribute to sleep-related sudden 
     unexpected infant death or sudden unexpected death in 
     childhood.
       ``(b) Application.--To be eligible to receive a grant or 
     cooperative agreement under subsection (a)(2), a State, 
     Indian Tribe, or Tribal organization shall submit to the 
     Secretary an application at such time, in such manner, and 
     containing such information as the Secretary may require, 
     including information on how such State will ensure 
     activities conducted under this section are coordinated with 
     other federally-funded programs to reduce infant mortality, 
     as appropriate.
       ``(c) Technical Assistance.--The Secretary shall provide 
     technical assistance to States, Tribes, and Tribal 
     organizations receiving a grant or cooperative agreement 
     under subsection (a)(2) for purposes of carrying out the 
     program in accordance with this section.
       ``(d) Reporting Forms.--
       ``(1) In general.--The Secretary shall, as appropriate, 
     encourage the use of sudden unexpected infant death and 
     sudden unexpected death in childhood reporting forms 
     developed in collaboration with the Centers for Disease 
     Control and Prevention to improve the quality of data 
     submitted to the Sudden Unexpected Infant Death and Sudden 
     Death in the Young Case Registry, and other fatality case 
     reporting systems that include data pertaining to sudden 
     unexpected infant death and sudden unexpected death in 
     childhood.
       ``(2) Update of forms.--The Secretary shall assess whether 
     updates are needed to the sudden unexpected infant death 
     investigation reporting form used by the Centers for Disease 
     Control and Prevention in order to improve the use of such 
     form with other fatality case reporting systems supported by 
     the Department of Health and Human Services, and shall make 
     such updates as appropriate.
       ``(e) Definitions.--In this section:
       ``(1) Sudden infant death syndrome.--The term `sudden 
     infant death syndrome' means a sudden unexpected infant death 
     that remains unexplained after a thorough case investigation.
       ``(2) Sudden unexpected infant death.--The term `sudden 
     unexpected infant death' means the sudden death of an infant 
     under 1 year of age that when first discovered did not have 
     an obvious cause. Such term includes such deaths that are 
     explained, as well as deaths that remain unexplained (which 
     are known as sudden infant death syndrome).
       ``(3) Sudden unexpected death in childhood.--The term 
     `sudden unexpected death in childhood' means the sudden death 
     of a child who is at least 1 year of age but not more than 17 
     years of age that, when first discovered, did not have an 
     obvious cause. Such term includes such deaths that are 
     explained, as well as deaths that remain unexplained (which 
     are known as sudden unexplained death in childhood).
       ``(4) Sudden unexplained death in childhood.--The term 
     `sudden unexplained death in childhood' means a sudden 
     unexpected death in childhood that remains unexplained after 
     a thorough case investigation.
       ``(f) Authorization of Appropriations.--For the purpose of 
     carrying out this section, there is authorized to be 
     appropriated $12,000,000 for each of fiscal years 2021 
     through 2025.''.

     SEC. 3. REPORT TO CONGRESS.

       (a) In General.--Not later than 2 years after the date of 
     enactment of this Act and biennially thereafter, the 
     Secretary of Health and Human Services shall submit to the 
     Committee on Health, Education, Labor, and Pensions of the 
     Senate and the Committee on Energy and Commerce of the House 
     of Representatives a report that contains, with respect to 
     the reporting period--
       (1) information regarding the incidence and number of 
     sudden unexpected infant death and sudden unexpected death in 
     childhood (including the number of such infant and child 
     deaths that remain unexplained after investigation), 
     including, to the extent practicable--
       (A) a summary of such information by racial and ethnic 
     group, and by State;
       (B) aggregate information obtained from death scene 
     investigations and autopsies; and
       (C) recommendations for reducing the incidence of sudden 
     unexpected infant death and sudden unexpected death in 
     childhood;
       (2) an assessment of the extent to which various approaches 
     of reducing and preventing sudden unexpected infant death and 
     sudden unexpected death in childhood have been effective; and
       (3) a description of the activities carried out under 
     section 1121 of the Public Health Service Act (as added by 
     section 2).
       (b) Definitions.--In this section, the terms ``sudden 
     unexpected infant death'' and ``sudden unexpected death in 
     childhood'' have the meanings given such terms in section 
     1121 of the Public Health Service Act (as added by section 
     2).

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