[Congressional Record Volume 167, Number 88 (Thursday, May 20, 2021)]
[Senate]
[Page S3313]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1918. Mr. SULLIVAN 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 end of subtitle B of title II of division E, add 
     the following:

     SEC. 5214. DISCLOSURES REQUIRED BY UNITED STATES ENTITIES 
                   INVESTING IN THE CHINESE COMMUNIST PARTY OR THE 
                   PEOPLE'S LIBERATION ARMY.

       (a) In General.--The Director of the Office of Foreign 
     Assets Control of the Department of the Treasury shall 
     require any United States entity that makes an investment 
     described subsection (b) to disclose the purpose and amount 
     of such investments to the Director on an annual basis.
       (b) Investments Described.--An investment described in this 
     subsection is a monetary investment, in an amount that 
     exceeds an amount determined by the Director, directly or 
     indirectly--
       (1) to--
       (A) the Chinese Communist Party;
       (B) an entity owned or controlled by the Chinese Communist 
     Party; or
       (C) the People's Liberation Army; or
       (2) for the benefit of any key industrial sector championed 
     by the Chinese Communist Party, including the following:
       (A) Information technology.
       (B) Artificial intelligence.
       (C) The internet of things.
       (D) Smart appliances.
       (E) Robotics.
       (F) Machine learning.
       (G) Energy.
       (H) Aerospace engineering.
       (I) Ocean engineering.
       (J) Railway equipment.
       (K) Power equipment.
       (L) New materials.
       (M) Pharmaceuticals.
       (N) Biomedicine.
       (O) Medical devices.
       (P) Agricultural machinery.
       (c) Consolidated Report.--Not less frequently than 
     annually, the Director shall compile the disclosures 
     submitted under subsection (a) and submit that compilation 
     and a summary of those disclosures to--
       (1) the Committee on Banking, Housing, and Urban Affairs 
     and the Committee on Foreign Relations of the Senate; and
       (2) the Committee on Financial Services, the Committee on 
     Energy and Commerce, and the Committee on Foreign Affairs of 
     the House of Representatives.
       (d) Regulations.--The Director shall prescribe such 
     regulations as are necessary to carry out this section, which 
     may include--
       (1) requirements for documents and information to be 
     submitted with disclosures required under subsection (a); and
       (2) procedures for the determining the amount under 
     subsection (b).
       (e) United States Entity Defined.--In this section, the 
     term ``United States entity'' means an entity organized under 
     the laws of the United States or of any jurisdiction within 
     the United States, including a foreign branch of such an 
     entity.
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