[Congressional Record Volume 167, Number 87 (Wednesday, May 19, 2021)]
[Senate]
[Page S3134]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1610. Mr. SCOTT of Florida submitted an amendment intended to be 
proposed to amendment SA 1502 proposed by Mr. Schumer to the bill S. 
1260, to establish a new Directorate for Technology and Innovation in 
the National Science Foundation, to establish a regional technology hub 
program, to require a strategy and report on economic security, 
science, research, innovation, manufacturing, and job creation, to 
establish a critical supply chain resiliency program, and for other 
purposes; which was ordered to lie on the table; as follows:

        At the appropriate place, insert the following:

     SEC. ___. LISTING OF CERTAIN SECURITIES ON NATIONAL 
                   SECURITIES EXCHANGES.

       (a) In General.--Section 6(b) of the Securities Exchange 
     Act of 1934 (15 U.S.C. 78f(b)) is amended by adding at the 
     end the following:
       ``(11) The rules of the exchange prohibit the listing of 
     any security issued by an issuer that uses a variable 
     interest entity structure.
       ``(12) The rules of the exchange require that, if a 
     security of an issuer described in paragraph (11) is listed 
     on the exchange before the effective date of this paragraph, 
     that listing is removed from the exchange not later than that 
     effective date.''.
       (b) Effective Date.--The amendment made by subsection (a) 
     shall take effect on the date that is 1 year after the date 
     of enactment of this Act.
       (c) Update of Rules.--Not later than 180 days after the 
     date of enactment of this Act, the Securities and Exchange 
     Commission shall make any updates to the rules of the 
     Commission that are required as a result of this Act and the 
     amendments made by this Act.
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