[Congressional Record Volume 167, Number 199 (Tuesday, November 16, 2021)]
[Senate]
[Pages S8277-S8278]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 4690. Mr. SULLIVAN submitted an amendment intended to be proposed 
to amendment SA 3867 submitted by Mr. Reed and intended to be proposed 
to the bill H.R. 4350, to authorize appropriations for fiscal year 2022 
for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

        At the end of subtitle E of title XII, add the following:

     SEC. 1253. DISCLOSURES REQUIRED BY UNITED STATES FINANCIAL 
                   INSTITUTIONS INVESTING IN PEOPLE'S REPUBLIC OF 
                   CHINA.

       (a) In General.--The Secretary of Defense shall--
       (1) require any United States financial institution that 
     makes an investment described subsection (b) to disclose the 
     amount and purpose, and potential impacts on the national 
     defense, of such investments to the Secretary on an annual 
     basis; and
       (2) make such disclosures available to the public.
       (b) Investments Described.--An investment described in this 
     subsection is a monetary investment, in an amount that 
     exceeds a threshold to be determined by the Secretary, 
     directly or indirectly--
       (1) to--
       (A) the People's Republic of China;
       (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 sponsored 
     by the Chinese Communist Party.
       (c) Consolidated Report.--Not less frequently than 
     annually, the Secretary shall compile the disclosures 
     submitted under subsection (a) and submit that compilation 
     and

[[Page S8278]]

     a summary of those disclosures to the congressional defense 
     committees.
       (d) Regulations.--The Secretary 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 Financial Institution Defined.--In this 
     section, the term ``United States financial institution'' 
     means a financial institution (as defined in section 5312 of 
     title 31, United States Code) organized under the laws of the 
     United States or of any jurisdiction within the United 
     States, including a foreign branch of such an institution.
                                 ______