[House Report 117-59]
[From the U.S. Government Publishing Office]


117th Congress     }                                    {      Report
                        HOUSE OF REPRESENTATIVES
 1st Session       }                                    {      117-59

======================================================================

 
   PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 256) TO REPEAL THE 
  AUTHORIZATION FOR USE OF MILITARY FORCE AGAINST IRAQ RESOLUTION OF 
 2002; PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 1187) TO PROVIDE 
    FOR DISCLOSURE OF ADDITIONAL MATERIAL INFORMATION ABOUT PUBLIC 
 COMPANIES AND ESTABLISH A SUSTAINABLE FINANCE ADVISORY COMMITTEE, AND 
                           FOR OTHER PURPOSES

                                _______
                                

   June 14, 2021.--Referred to the House Calendar and ordered to be 
                                printed

                                _______
                                

              Mr. McGovern, from the Committee on Rules, 
                        submitted the following

                              R E P O R T

                       [To accompany H. Res. 473]

    The Committee on Rules, having had under consideration 
House Resolution 473, by a record vote of 9 to 4, report the 
same to the House with the recommendation that the resolution 
be adopted.

                SUMMARY OF PROVISIONS OF THE RESOLUTION

    The resolution provides for consideration of H.R. 256, To 
repeal the Authorization for Use of Military Force Against Iraq 
Resolution of 2002, under a closed rule. The resolution 
provides one hour of debate equally divided and controlled by 
the chair and ranking minority member of the Committee on 
Foreign Affairs or their designees. The resolution waives all 
points of order against consideration of the bill. The 
resolution waives all points of order against provisions in the 
bill. The resolution provides that the bill shall be considered 
as read. The resolution provides one motion to recommit. The 
resolution provides for consideration of H.R. 1187, the 
Corporate Governance Improvement and Investor Protection Act, 
under a structured rule. The resolution provides one hour of 
general debate equally divided and controlled by the chair and 
ranking minority member of the Committee on Financial Services 
or their designees. The resolution waives all points of order 
against consideration of the bill. The resolution provides that 
an amendment in the nature of a substitute consisting of the 
text of Rules Committee Print 117-5 shall be considered as 
adopted and the bill, as amended, shall be considered as read. 
The resolution waives all points of order against provisions in 
the bill, as amended. The resolution provides that following 
debate, each further amendment printed in this report not 
earlier considered as part of amendments en bloc pursuant to 
section 4 shall be considered only in the order printed in this 
report, may be offered only by a Member designated in this 
report, shall be considered as read, shall be debatable for the 
time specified in this report equally divided and controlled by 
the proponent and an opponent, may be withdrawn by the 
proponent at any time before the question is put thereon, shall 
not be subject to amendment, and shall not be subject to a 
demand for division of the question. The resolution provides 
that at any time after debate the chair of the Committee on 
Financial Services or her designee may offer amendments en bloc 
consisting of further amendments printed in this report not 
earlier disposed of. Amendments en bloc shall be considered as 
read, shall be debatable for 20 minutes equally divided and 
controlled by the chair and ranking minority member of the 
Committee on Financial Services or their designees, shall not 
be subject to amendment, and shall not be subject to a demand 
for division of the question. The resolution waives all points 
of order against the amendments printed in this report or 
amendments en bloc described in section 4 of the resolution. 
The resolution provides one motion to recommit. The resolution 
provides that the provisions of section 202 of the National 
Emergencies Act shall not apply to House Joint Resolution 46. 
The resolution provides that House Resolution 467 is hereby 
adopted. The resolution provides that at any time through the 
legislative day of Thursday, June 17, 2021, the Speaker may 
entertain motions offered by the Majority Leader or a designee 
that the House suspend the rules with respect to multiple 
measures that were the object of motions to suspend the rules 
on the legislative days of June 14 or 15, 2021, and on which 
the yeas and nays were ordered and further proceedings 
postponed. The Chair shall put the question on any such motion 
without debate or intervening motion, and the ordering of the 
yeas and nays on postponed motions to suspend the rules with 
respect to such measures is vacated.

                         EXPLANATION OF WAIVERS

    Although the resolution waives all points of order against 
consideration of H.R. 256, the Committee is not aware of any 
points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
provisions in H.R. 256, the Committee is not aware of any 
points of order. The waiver is prophylactic in nature.
    The waiver of all points of order against consideration of 
H.R. 1187 includes a waiver of 3(d) of rule XIII, which 
requires the inclusion of committee cost estimate in a 
committee report. A CBO cost estimate on H.R. 1187 was not 
available at the time the Committee on Financial Services filed 
its report.
    Although the resolution waives all points of order against 
provisions in H.R. 1187, as amended, the Committee is not aware 
of any points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
the amendments printed in this report and amendments en bloc 
described in section 4 of the resolution, the Committee is not 
aware of any points of order. The waiver is prophylactic in 
nature.

                            COMMITTEE VOTES

    The results of each record vote on an amendment or motion 
to report, together with the names of those voting for and 
against, are printed below:

Rules Committee record vote No. 91

    Motion by Mr. Cole to report an open rule for H.R. 1187. 
Defeated: 4-8

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mrs. Torres.....................................          Nay   Mr. Cole..........................          Yea
Mr. Perlmutter..................................          Nay   Mr. Burgess.......................          Yea
Mr. Raskin......................................          Nay   Mr. Reschenthaler.................          Yea
Ms. Scanlon.....................................          Nay   Mrs. Fischbach....................          Yea
Mr. Morelle.....................................          Nay
Mr. DeSaulnier..................................          Nay
Ms. Ross........................................          Nay
Mr. Neguse......................................  ............
Mr. McGovern, Chairman..........................          Nay
----------------------------------------------------------------------------------------------------------------

Rules Committee record vote No. 92

    Motion by Mr. Cole to strike from the appropriate section 
of the rule language relating to H.J. Res. 46 introduced by 
Rep. Gosar (AZ). Defeated: 4-8

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mrs. Torres.....................................          Nay   Mr. Cole..........................          Yea
Mr. Perlmutter..................................          Nay   Mr. Burgess.......................          Yea
Mr. Raskin......................................          Nay   Mr. Reschenthaler.................          Yea
Ms. Scanlon.....................................          Nay   Mrs. Fischbach....................          Yea
Mr. Morelle.....................................          Nay
Mr. DeSaulnier..................................          Nay
Ms. Ross........................................          Nay
Mr. Neguse......................................  ............
Mr. McGovern, Chairman..........................          Nay
----------------------------------------------------------------------------------------------------------------

Rules Committee record vote No. 93

    Motion by Mr. Burgess to strike from the appropriate 
section language adopting a budget resolution. Defeated: 4-8

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mrs. Torres.....................................          Nay   Mr. Cole..........................          Yea
Mr. Perlmutter..................................          Nay   Mr. Burgess.......................          Yea
Mr. Raskin......................................          Nay   Mr. Reschenthaler.................          Yea
Ms. Scanlon.....................................          Nay   Mrs. Fischbach....................          Yea
Mr. Morelle.....................................          Nay
Mr. DeSaulnier..................................          Nay
Ms. Ross........................................          Nay
Mr. Neguse......................................  ............
Mr. McGovern, Chairman..........................          Nay
----------------------------------------------------------------------------------------------------------------

Rules Committee record vote No. 94

    Motion by Mr. Reschenthaler to amend the rule to H.R. 1187 
to make in order amendment #8, offered by Rep. McHenry (NC), 
which makes the bill and amendments effective date contingent 
on the Labor Force Participation Rate reaching the same level 
it was in January 2020. Defeated: 4-9

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mrs. Torres.....................................          Nay   Mr. Cole..........................          Yea
Mr. Perlmutter..................................          Nay   Mr. Burgess.......................          Yea
Mr. Raskin......................................          Nay   Mr. Reschenthaler.................          Yea
Ms. Scanlon.....................................          Nay   Mrs. Fischbach....................          Yea
Mr. Morelle.....................................          Nay
Mr. DeSaulnier..................................          Nay
Ms. Ross........................................          Nay
Mr. Neguse......................................          Nay
Mr. McGovern, Chairman..........................          Nay
----------------------------------------------------------------------------------------------------------------

Rules Committee record vote No. 95

    Motion by Mrs. Fischbach to amend the rule to H.R. 1187 to 
make in order amendment #9, offered by Rep. McHenry (NC), which 
allows Emerging Growth Companies, Small Businesses, and Smaller 
Reporting Companies to opt out of the disclosure requirements. 
Defeated: 4-9

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mrs. Torres.....................................          Nay   Mr. Cole..........................          Yea
Mr. Perlmutter..................................          Nay   Mr. Burgess.......................          Yea
Mr. Raskin......................................          Nay   Mr. Reschenthaler.................          Yea
Ms. Scanlon.....................................          Nay   Mrs. Fischbach....................          Yea
Mr. Morelle.....................................          Nay
Mr. DeSaulnier..................................          Nay
Ms. Ross........................................          Nay
Mr. Neguse......................................          Nay
Mr. McGovern, Chairman..........................          Nay
----------------------------------------------------------------------------------------------------------------

Rules Committee record vote No. 96

    Motion by Mrs. Torres to report the rule. Adopted: 9-4

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mrs. Torres.....................................          Yea   Mr. Cole..........................          Nay
Mr. Perlmutter..................................          Yea   Mr. Burgess.......................          Nay
Mr. Raskin......................................          Yea   Mr. Reschenthaler.................          Nay
Ms. Scanlon.....................................          Yea   Mrs. Fischbach....................          Nay
Mr. Morelle.....................................          Yea
Mr. DeSaulnier..................................          Yea
Ms. Ross........................................          Yea
Mr. Neguse......................................          Yea
Mr. McGovern, Chairman..........................          Yea
----------------------------------------------------------------------------------------------------------------

          SUMMARY OF THE AMENDMENTS TO H.R. 1187 MADE IN ORDER

    1. Burgess (TX): Requires publicly traded companies to 
disclose the negative impacts of federal corporate tax 
increases. (10 minutes)
    2. Axne (IA): Increases disclosures from public companies 
about their workforce, including information about workforce 
health and safety, pay, diversity, turnover and promotion 
rates, and training, as well as companies' use of contractors 
and outsourcing. (10 minutes)
    3. Frankel (FL), Nadler (NY), Speier (CA), Blunt Rochester 
(DE), Underwood (IL): Requires publicly-traded companies to 
disclose the number of settlements, judgments, and aggregate 
settlement amounts in connection with workplace harassment in 
their annual SEC filings. (10 minutes)
    4. Hill, French (AR): Strikes the underlying legislation 
with a study that must be conducted by the SEC to summarize and 
describe any inconsistencies by the different ESG and climate 
disclosure frameworks before requiring any type of disclosure 
from public companies. (10 minutes)
    5. Himes (CT), Ross, Deborah (NC): Requires publicly traded 
companies to report annually on whether members of their 
governing bodies (such as general partners or members of a 
board of directors) have cybersecurity expertise and the nature 
of that experience. If nobody has such experience, then the 
company would be required to describe what other aspects of its 
cybersecurity were considered by the people responsible for 
identifying and evaluating nominees for governing body 
membership with NIST and the SEC would defining cybersecurity 
experience using commonly defined roles, specialties, 
knowledge, skills, and abilities. (10 minutes)
    6. Meeks (NY), Maloney, Carolyn (NY), Torres, Ritchie (NY): 
(1) Requires public companies to annually disclose the racial, 
ethnic, gender identity, sexual orientation, and veteran status 
of their board directors, nominees, and senior executive 
officers; (2) empowers the SEC's Office of Minority and Women 
Inclusion to publish best diversity disclosure practices; and 
(3) creates an advisory group that would study and report on 
increasing corporate diversity. (10 minutes)
    7. Phillips (MN): Requires the SEC to study the emergence 
and viability of coalitions among shareholders who wish to 
preserve and promote critical employment, environmental, 
social, and governance standards (EESG) and the significance of 
shareholder networks with the SEC issuing a report to Congress 
with its findings, guidance on shareholder engagement 
activities that are not considered to involve questions of 
corporate control, and provide recommendations on regulatory 
safe harbors for engagement with respect to sustainability 
guardrails. (10 minutes)
    8. Schrier (WA): Requires the Commission, in conjunction 
with the Office of the Advocate for Small Business Capital 
Formation and the Office of the Investor Advocate, to conduct a 
study and issue a report on the issues small businesses face in 
reporting ESG disclosures with the report including 
recommendations for the Commission to consider, and should be 
completed within 1 year of the enactment of the bill. (10 
minutes)
    9. Wexton (VA): Directs the Securities and Exchange 
Commission (SEC) to issue rules requiring U.S. publicly traded 
companies to disclose annually imports of manufactured goods 
and materials that originate in or are sourced in part from 
Xinjiang Province. (10 minutes)
    10. Plaskett (VI): Clarifies that a `tax jurisdiction' 
includes a country or a jurisdiction that is not a country but 
that has fiscal autonomy. (10 minutes)

             TEXT OF AMENDMENTS TO H.R. 1187 MADE IN ORDER

1. An Amendment To Be Offered by Representative Burgess of Texas or His 
                   Designee, Debatable for 10 Minutes

  Page 45, after line 19, insert the following:
          ``(3) Inclusion of notice with respect to federal 
        corporate tax increases.--With respect to each 
        disclosure made by a covered issuer pursuant to 
        paragraph (2), if the Federal corporate tax rate in 
        effect during the reporting period is higher than the 
        Federal corporate tax rate applicable on June 1, 2021, 
        the disclosure shall contain the following additional 
        information:
                  ``(A) With respect to any disclosure of taxes 
                paid to the Federal Government, the disclosure 
                shall include a calculation of what such 
                payment would have been had the Federal 
                corporate tax rate remained the same as it was 
                on June 1, 2021.
                  ``(B) The following notice: `As a result of a 
                change in U.S. Federal corporate tax law 
                enacted during the _____ Administration(s), our 
                company has ___ fewer dollars to pay its 
                workforce, invest in our business, or return 
                capital to its investors.'. (With the first 
                blank filled in with the name of each President 
                since June 1, 2021, during whose term 
                legislation was enacted to raise the Federal 
                corporate tax rate, and with the second blank 
                filled in with the difference between the 
                actual taxes paid by the covered issuer to the 
                Federal Government during the reporting period 
                and what that payment amount would have been 
                had the Federal corporate tax rate remained the 
                same as it was on June 1, 2021.)''.
                              ----------                              


  2. An Amendment To Be Offered by Representative Axne of Iowa or Her 
                   Designee, Debatable for 10 Minutes

  Add at the end the following:

               TITLE VI--WORKFORCE INVESTMENT DISCLOSURE

SEC. 601. SHORT TITLE.

  This title may be cited as the ``Workforce Investment 
Disclosure Act of 2021''.

SEC. 602. FINDINGS.

  Congress finds the following:
          (1) One of the keys to the 20th century post-war 
        economic success of the United States was the ability 
        to prepare workers over the course of their lives for 
        success through multiple sectors across society. 
        Unfortunately, during the several decades preceding the 
        date of enactment of this Act, there has been a shift 
        in business norms and in society. While Congress 
        recognizes that the technology and job skills required 
        for some jobs has changed dramatically, the private and 
        public partnership to hire workers at different 
        education levels and invest in them for the long-term 
        is broken.
          (2) Available data from the 10-year period preceding 
        the date of enactment of this Act suggests that 
        businesses are investing less in worker training during 
        that time period, not more.
          (3) In the wake of the 2008 global financial crisis, 
        there was a well-documented decline in overall business 
        investment. That decline coincides with the wage 
        polarization of workers and an increase in spending on 
        share buybacks and dividends, leading several 
        researchers to conclude that companies are de-
        emphasizing investment at the expense of increasing 
        returns for shareholders. The onset of a global 
        pandemic may make that trend worse, especially with 
        respect to investments in workers.
          (4) As part of the overall decline in investment 
        described in paragraph (3), publicly traded companies 
        are being provided with incentives to prioritize 
        investments in physical assets over investments in 
        their workforces, meaning that those companies are 
        investing in robots instead of individuals. In fact, 
        there are already signs that automation has increased 
        during the COVID-19 pandemic.
          (5) More than ever, the Federal Government, through 
        company disclosure practices, needs to understand 
        exactly how companies are investing in their workers. 
        Over the several months preceding the date of enactment 
        of this Act, companies across the United States have 
        taken extreme actions to adapt and respond to evolving 
        workforce challenges presented by COVID-19.
          (6) JUST Capital has been tracking the responses of 
        the Standard and Poor's 100 largest public companies to 
        their workers and has found wide variation in the 
        policies implemented, as well as with respect to the 
        disclosure of those policies. Through different 
        responses to their workforces, from layoffs to 
        workplace safety to paid leave, the COVID-19 pandemic 
        is exposing the myriad ways that workforce management 
        practices of companies pose operational and 
        reputational risks for short- and long-term financial 
        performance.
          (7) Even before the COVID-19 pandemic, there was a 
        growing body of research establishing a relationship 
        between measurable workforce management, which is the 
        way that companies manage their employees, and firm 
        performance. In a study of 2,000 large companies, 
        Harvard Law School's Labor and Work Life Program found 
        that forward-thinking workforce policies that 
        prioritize workers, such as how companies train, 
        retain, and pay their workers, are correlated with 
        long-term financial performance.
          (8) Disclosure of workforce management policies 
        should be part of a Government-wide economic recovery 
        strategy. Just as a set of generally accepted 
        accounting principles (commonly known as ``GAAP'') was 
        urgently adopted after the Great Depression, 
        standardized, comparable metrics of workforce 
        disclosure requirements in the context of the COVID-19 
        pandemic are critical for investors to accurately 
        measure and project company performance, both in the 
        present and in the future.
          (9) Because many companies already track workforce 
        metrics internally, moving towards a transparent 
        disclosure regime would allow investors to better judge 
        whether companies are managing risks and making the 
        investments in their workforces that are needed for 
        long-term growth.
          (10) Businesses increasingly rely on workforce 
        innovation and intellectual capital for 
        competitiveness. Workplace benefits, particularly paid 
        sick leave, medical leave, and flexible work 
        arrangements, critically support employee mental and 
        physical well-being.
          (11) Race- and gender-based workplace discrimination 
        have been tied to negative health outcomes, as well as 
        lower productivity, trust, morale, and satisfaction and 
        higher rates of absenteeism and turnover. 
        Organizational reporting on practices to reduce 
        discrimination can increase employee job satisfaction, 
        performance, and engagement.
          (12) According to the Centers for Disease Control and 
        Prevention, work-related stress is the leading 
        occupational health risk and, per the American 
        Institute of Stress, job stress costs United States 
        industry more than $300,000,000,000 per year in 
        accidents, absenteeism, employee turnover, diminished 
        productivity, and medical, legal, and insurance costs.
          (13) Employee health and well-being is a key asset to 
        delivering long-term value, with 80 percent of public 
        companies that took concrete actions on health and 
        well-being having seen larger improvements in financial 
        performance.
          (14) Organizational well-being interventions can 
        create cost savings of up to 10 dollars for every 
        dollar invested. Specifically, for every dollar that 
        employers spend on workplace disease prevention and 
        well-being programs, there is a $3.27 reduction in 
        employee medical costs and a $2.73 reduction in 
        absenteeism costs. Employers that implement workplace 
        health promotion programs have seen reductions in sick 
        leave, health plan costs, and workers' compensation and 
        disability insurance costs of approximately 25 percent.
          (15) The Centers for Disease Control and Prevention 
        has found that preventable chronic conditions are a 
        major contributor to insurance premium and employee 
        medical claim costs, which are at an all-time high, and 
        a Milken Institute study shows that employers paid 
        $2,600,000,000,000 in 2016 for the indirect costs of 
        employee chronic disease due to work absences, lost 
        wages, and reduced economic productivity.
          (16) The COVID-19 pandemic has severely impacted 
        employee physical, mental, and emotional well-being by 
        increasing stress, depression, burnout, and mortality 
        rates of chronic disease and by reducing work-life 
        balance and financial security, with these challenges 
        likely to persist due to uncertainty and instability 
        even as employees return to work. Before the COVID-19 
        pandemic, but especially in the face of that pandemic, 
        employers that advance policies and practices that 
        support workforce health, safety, and well-being are 
        likely to outperform competitors and benefit from lower 
        costs.

SEC. 603. DISCLOSURES RELATING TO WORKFORCE MANAGEMENT.

  Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 
78m), as amended by section 502, is further amended by adding 
at the end the following:
  ``(w) Disclosures Relating to Workforce Management.--
          ``(1) Definition.--In this subsection, the term 
        `contingent worker' includes an individual performing 
        work in the usual course of business on a temporary 
        basis (including through a labor intermediary, 
        including an individual or entity that supplies an 
        employer with workers to perform labor) or as an 
        independent contractor.
          ``(2) Regulations.--Not later than 2 years after the 
        date of enactment of this subsection, the Commission, 
        in consultation with the Secretary of Labor, the 
        Secretary of Commerce, the Secretary of Treasury, and 
        the Attorney General, shall promulgate regulations that 
        require each issuer required to file an annual report 
        under subsection (a) or section 15(d) to disclose in 
        that report information regarding workforce management 
        policies, practices, and performance with respect to 
        the issuer.
          ``(3) Rules.--Consistent with the requirement under 
        paragraph (4), each annual report filed with the 
        Commission in accordance with the regulations 
        promulgated under paragraph (2) shall include 
        disclosure of the following with respect to the issuer 
        filing the report for the year covered by the report:
                  ``(A) Workforce demographic information, 
                including--
                          ``(i) the number of full-time 
                        employees, the number of part-time 
                        employees, and the number of contingent 
                        workers (including temporary and 
                        contract workers) with respect to the 
                        issuer, which shall include demographic 
                        information with respect to those 
                        categories of individuals, including 
                        information regarding race, ethnicity, 
                        and gender;
                          ``(ii) any policies or practices of 
                        the issuer relating to subcontracting, 
                        outsourcing, and insourcing individuals 
                        to perform work for the issuer, which 
                        shall include demographic information 
                        with respect to those individuals, 
                        including information regarding race, 
                        ethnicity, and gender; and
                          ``(iii) whether the percentage of 
                        contingent workers with respect to the 
                        issuer has changed, including temporary 
                        and contract workers, as compared with 
                        the previous annual report filed by the 
                        issuer under this subsection.
                  ``(B) Workforce stability information, 
                including information about the voluntary 
                turnover or retention rate, the involuntary 
                turnover rate, the internal hiring rate, and 
                the internal promotion rate, as well as 
                information about workers who transition 
                between employee and contingent workers, and 
                the horizontal job change rate by quintile and 
                demographic information.
                  ``(C) Workforce composition, including--
                          ``(i) data on diversity (including 
                        racial, ethnic, self-reported sexual 
                        orientation, and gender composition) 
                        for senior executives and other 
                        individuals in the workforce; and
                          ``(ii) any policies, audits, and 
                        programming expenditures relating to 
                        diversity.
                  ``(D) Workforce skills and capabilities, 
                including--
                          ``(i) information about training and 
                        cross-training of employees and 
                        contingent workers by quintile and 
                        demographic information, distinguishing 
                        between compliance training, career 
                        development training, job performance 
                        or technical training, and training 
                        tied to recognized postsecondary 
                        credentials;
                          ``(ii) average number of hours of 
                        training for each employee and 
                        contingent worker;
                          ``(iii) total spending on training 
                        for all employees and contingent 
                        workers;
                          ``(iv) average spending per employee 
                        or contingent worker;
                          ``(v) training utilization rates; and
                          ``(vi) whether completion of training 
                        opportunities translates into value 
                        added benefit for workers, as 
                        determined by wage increases or 
                        internal promotions.
                  ``(E) Workforce health, safety, and well-
                being, including information regarding--
                          ``(i) the frequency, severity, and 
                        lost time due to injuries, physical and 
                        mental illness, and fatalities;
                          ``(ii) the scope, frequency, and 
                        total expenditure on workplace health, 
                        safety, and well-being programs;
                          ``(iii) the total dollar value of 
                        assessed fines under the Occupational 
                        Safety and Health Act of 1970 (29 
                        U.S.C. 651 et seq.);
                          ``(iv) the total number of actions 
                        brought under section 13 of the 
                        Occupational Safety and Health Act of 
                        1970 (29 U.S.C. 662) to prevent 
                        imminent dangers;
                          ``(v) the total number of actions 
                        brought against the issuer under 
                        section 11(c) of the Occupational 
                        Safety and Health Act of 1970 (29 
                        U.S.C. 660(c));
                          ``(vi) any findings of workplace 
                        harassment or workplace discrimination 
                        during the 5 fiscal year period of the 
                        issuer preceding the fiscal year in 
                        which the report is filed; and
                          ``(vii) communication channels and 
                        grievance mechanisms in place for 
                        employees and contingent workers.
                  ``(F) Workforce compensation and incentives, 
                including information regarding--
                          ``(i) total workforce costs, 
                        including salaries and wages, health 
                        benefits, other ancillary benefit 
                        costs, and pension costs;
                          ``(ii) workforce benefits, including 
                        paid leave, health care, child care, 
                        and retirement, including information 
                        regarding benefits that are provided--
                                  ``(I) to full-time employees 
                                and not to part-time employees; 
                                or
                                  ``(II) to employees and not 
                                to contingent workers;
                          ``(iii) total contributions made to 
                        unemployment insurance by the issuer, 
                        how many employees to whom those 
                        contributions apply, and the total 
                        amount paid in unemployment 
                        compensation to individuals who were 
                        laid off by the issuer;
                          ``(iv) policies and practices 
                        regarding how performance, 
                        productivity, equity, and 
                        sustainability are considered when 
                        setting pay and making promotion 
                        decisions; and
                          ``(v) policies and practices relating 
                        to any incentives and bonuses provided 
                        to employees and any policies or 
                        practices designed to counter any risks 
                        created by such incentives and bonuses.
                  ``(G) Workforce recruiting and needs, 
                including--
                          ``(i) the number of new jobs created, 
                        seeking to be filled, and filled, 
                        disaggregated based on classification 
                        status;
                          ``(ii) the share of new jobs that 
                        require a bachelor's degree or higher;
                          ``(iii) information regarding the 
                        quality of hire for jobs described in 
                        clause (i); and
                          ``(iv) the retention rate for 
                        individuals hired to fill the jobs 
                        described in clause (i).
                  ``(H) Workforce engagement and productivity, 
                including information regarding policies and 
                practices of the issuer relating to--
                          ``(i) engagement, productivity, and 
                        mental well-being of employees and 
                        contingent workers, as determined in 
                        consultation with the Department of 
                        Labor; and
                          ``(ii) freedom of association and 
                        work-life balance initiatives, 
                        including flexibility and the ability 
                        of the workforce to work remotely, as 
                        determined in consultation with the 
                        Department of Labor.
          ``(4) Disaggregation of information.--To the maximum 
        extent feasible, the information described in paragraph 
        (3) shall be disaggregated by--
                  ``(A) the workforce composition described in 
                subparagraph (C)(i) of that paragraph;
                  ``(B) wage quintiles of the employees of the 
                issuer for the year covered by the applicable 
                annual report; and
                  ``(C) the employment status of individuals 
                performing services for the issuer, including 
                whether those individuals are full-time 
                employees, part-time employees, or contingent 
                workers.
          ``(5) Treatment of emerging growth companies.--The 
        Commission may exempt emerging growth companies from 
        any disclosure required under subparagraph (D), (E), 
        (F), (G), or (H) of paragraph (3) if the Commission 
        determines that such an exemption is necessary or 
        appropriate in the public interest.
          ``(6) False or misleading statements.--
                  ``(A) In general.--Except as provided in 
                subparagraph (B), it shall be unlawful for any 
                person, in any report or document filed under 
                this subsection, to make or cause to be made 
                any untrue statement of a material fact or omit 
                to state a material fact required to be stated 
                in the report or document or necessary to make 
                the statement made, in the light of the 
                circumstances under which it is made, not 
                misleading.
                  ``(B) Exception.--A person shall not be 
                liable under subparagraph (A) if the person 
                shows that the person had, after reasonable 
                investigation, reasonable ground to believe, 
                and did believe, at the time the applicable 
                statement was made, that the statement was true 
                and that there was no omission to state a 
                material fact necessary to make the statement 
                made, in the light of the circumstances under 
                which it is made, not misleading.
                  ``(C) No private right of action.--Nothing in 
                this paragraph may be construed as creating a 
                private right of action.
          ``(7) Exemption.--This subsection shall not apply to 
        an investment company registered under section 8 of the 
        Investment Company Act of 1940 (15 U.S.C. 80a-8).''.

SEC. 604. BACKSTOP.

  (a) Definitions.--In this section--
          (1) the term ``Commission'' means the Securities and 
        Exchange Commission;
          (2) the term ``covered issuer'' means an issuer that 
        is required to file an annual report under section 
        13(a) or section 15(d) of the Securities Exchange Act 
        of 1934 (15 U.S.C. 78m(a), 78o(d)); and
          (3) the term ``issuer'' has the meaning given the 
        term in section 3(a) of the Securities Exchange Act of 
        1934 (15 U.S.C. 78c(a)).
  (b) Compliance.--If, as of the date that is 2 years after the 
date of enactment of this Act, the Commission has not 
promulgated the regulations required under subsection (w) of 
section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 
78m), as added by section 603, a covered issuer, during the 
period beginning on that date and ending on the date on which 
the Commission promulgates those regulations, shall be deemed 
to be in compliance with such subsection (w) if disclosures set 
forth in the annual report of the covered issuer satisfy the 
public disclosure standards of the International Organization 
for Standardization's ISO 30414, or any successor standards for 
external workforce reporting, as supplemented or adjusted by 
rules, guidance, or other comments from the Commission.

SEC. 605. SEC STUDY.

  (a) Definitions.--In this section, the terms ``Commission'' 
and ``issuer'' have the meanings given those terms in section 
604(a).
  (b) Study.--The Commission shall conduct a study about the 
value to investors of--
          (1) information about the human rights commitments of 
        issuers required to file annual reports under section 
        13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 
        78m(a)), including information about any principles 
        used to evaluate risk, constituency consultation 
        processes, and supplier due diligence; and
          (2) with respect to issuers required to file annual 
        reports under section 13(a) of the Securities Exchange 
        Act of 1934 (15 U.S.C. 78m(a)), information about--
                  (A) violations of the Fair Labor Standards 
                Act of 1938 (29 U.S.C. 201 et seq.) by those 
                issuers;
                  (B) violations of worker misclassification by 
                those issuers;
                  (C) surveys regarding employee satisfaction, 
                well-being, and engagement;
                  (D) the number and overall percentage of 
                quality jobs, as determined by compensation 
                above median wage and comprehensive employer-
                provided benefits; and
                  (E) information about workforce investment 
                trends, as determined by at least a 3-year time 
                period.
  (c) Report.--Not later than 1 year after the date of 
enactment of this Act, the Commission shall submit to Congress 
a report that contains the results of the study required to be 
conducted under subsection (b), with recommendations for 
additional disclosure regulations based on the findings, and 
any actions the Commission plans to take to enhance disclosures 
based on the findings.
                              ----------                              


 3. An Amendment To Be Offered by Representative Frankel of Florida or 
                 Her Designee, Debatable for 10 Minutes

  Add at the end the following:

      TITLE VI--PREVENTING AND RESPONDING TO WORKPLACE HARASSMENT

SEC. 601. SEC FILINGS AND MATERIAL DISCLOSURES AT PUBLIC COMPANIES.

  (a) Definitions.--In this section--
          (1) the term ``Form 10-K'' means the form described 
        in section 249.310 of title 17, Code of Federal 
        Regulations, or any successor regulation; and
          (2) the term ``issuer'' has the meaning given the 
        term in section 3(a) of the Securities Exchange Act of 
        1934 (15 U.S.C. 78c(a)).
  (b) Findings.--Congress finds that--
          (1) shareholders and the public should know whether 
        corporations--
                  (A) are expending company funds to resolve, 
                settle, or litigate claims of workplace 
                harassment, including sexual harassment; and
                  (B) along with the executives and managers of 
                those corporations--
                          (i) are complying with prohibitions 
                        against workplace harassment, including 
                        sexual harassment; and
                          (ii) facilitate a culture of silence, 
                        disrespect, intimidation, and abuse 
                        that negatively impacts the health and 
                        safety of the workers of those 
                        corporations and the value of those 
                        corporations; and
          (2) the requirements of this section will--
                  (A) establish necessary transparency and 
                accountability; and
                  (B) provide an incentive for corporations 
                to--
                          (i) promptly address workplace 
                        harassment, including sexual 
                        harassment, as that misconduct occurs; 
                        and
                          (ii) foster a culture in which 
                        workplace harassment is not protected 
                        and does not occur.
  (c) Information Required.--Not later than 1 year after the 
date of enactment of this Act, the Securities and Exchange 
Commission shall promulgate a regulation that requires any 
issuer that is required to submit an annual report using Form 
10-K to include in any such submission--
          (1) during the period covered by the submission--
                  (A) with respect to workplace harassment, 
                including sexual harassment, and retaliation 
                for reporting, resisting, opposing, or 
                assisting in the investigation of workplace 
                harassment--
                          (i) the number of settlements reached 
                        by the issuer as a signatory or when 
                        the issuer is a beneficiary of a 
                        release of claims; and
                          (ii) whether any judgments or awards 
                        (including awards through arbitration 
                        or administrative proceedings) were 
                        entered against the issuer in part or 
                        in whole, or any payments made in 
                        connection with a release of claims; 
                        and
                  (B) the total amount paid by the issuer or 
                another party as a result of--
                          (i) the settlements described in 
                        subparagraph (A)(i); and
                          (ii) the judgments described in 
                        subparagraph (A)(ii); and
          (2) information regarding whether, in the aggregate, 
        including the period covered by the submission, there 
        have been three or more settlements reached by, or 
        judgments against, the issuer with respect to workplace 
        harassment, including sexual harassment, or retaliation 
        for reporting, resisting, opposing, or assisting in the 
        investigation of workplace harassment that relate to a 
        particular individual employed by the issuer, without 
        identifying that individual by name.
                              ----------                              


4. An Amendment To Be Offered by Representative Hill of Arkansas or His 
                   Designee, Debatable for 10 Minutes

  Strike titles I through V and insert the following:

SEC. 2. SEC STUDY ON ESG AND CLIMATE-RELATED DISCLOSURES.

  (a) Study.--
          (1) In general.--The Securities and Exchange 
        Commission shall carry out a study of all disclosure 
        frameworks described in paragraph (2) that any U.S.-
        listed public company may use when making disclosures 
        to investors, whether voluntarily or pursuant to law.
          (2) Disclosure frameworks.--The disclosure frameworks 
        described in this paragraph are as follows:
                  (A) Disclosure frameworks related to 
                environmental, social, and governance (``ESG'') 
                metrics.
                  (B) Disclosure frameworks related to the 
                climate.
  (b) Report.--The Commission shall issue a report to the 
Congress containing--
          (1) all findings and determinations made in carrying 
        out the study required under subsection (a)(1); and
          (2) a description of all inconsistencies between the 
        frameworks described under subsection (a)(2).
  (c) ESG and Climate Disclosure Rulemaking Contingent on 
Study.--Issuers are not required to make any disclosures 
related to ESG or the climate that were not required on the 
date of enactment of this Act unless--
          (1) such disclosures are required by a rule of the 
        Commission; and
          (2) such rule is issued taking into account the 
        finding and determinations of the study required under 
        subsection (a)(1).
                              ----------                              


5. An Amendment To Be Offered by Representative Himes of Connecticut or 
                 His Designee, Debatable for 10 Minutes

  Add at the end the following:

                   TITLE VI--CYBERSECURITY DISCLOSURE

SEC. 601. SHORT TITLE.

  This title may be cited as the ``Cybersecurity Disclosure Act 
of 2021''.

SEC. 602. CYBERSECURITY TRANSPARENCY.

  The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
is amended by inserting after section 14B (15 U.S.C. 78n-2) the 
following:

``SEC. 14C. CYBERSECURITY TRANSPARENCY.

  ``(a) Definitions.--In this section--
          ``(1) the term `cybersecurity' means any action, 
        step, or measure to detect, prevent, deter, mitigate, 
        or address any cybersecurity threat or any potential 
        cybersecurity threat;
          ``(2) the term `cybersecurity threat'--
                  ``(A) means an action, not protected by the 
                First Amendment to the Constitution of the 
                United States, on or through an information 
                system that may result in an unauthorized 
                effort to adversely impact the security, 
                availability, confidentiality, or integrity of 
                an information system or information that is 
                stored on, processed by, or transiting an 
                information system; and
                  ``(B) does not include any action that solely 
                involves a violation of a consumer term of 
                service or a consumer licensing agreement;
          ``(3) the term `information system'--
                  ``(A) has the meaning given the term in 
                section 3502 of title 44, United States Code; 
                and
                  ``(B) includes industrial control systems, 
                such as supervisory control and data 
                acquisition systems, distributed control 
                systems, and programmable logic controllers;
          ``(4) the term `NIST' means the National Institute of 
        Standards and Technology; and
          ``(5) the term `reporting company' means any company 
        that is an issuer--
                  ``(A) the securities of which are registered 
                under section 12; or
                  ``(B) that is required to file reports under 
                section 15(d).
  ``(b) Requirement To Issue Rules.--Not later than 360 days 
after the date of enactment of this section, the Commission 
shall issue final rules to require each reporting company, in 
the annual report of the reporting company submitted under 
section 13 or section 15(d) or in the annual proxy statement of 
the reporting company submitted under section 14(a)--
          ``(1) to disclose whether any member of the governing 
        body, such as the board of directors or general 
        partner, of the reporting company has expertise or 
        experience in cybersecurity and in such detail as 
        necessary to fully describe the nature of the expertise 
        or experience; and
          ``(2) if no member of the governing body of the 
        reporting company has expertise or experience in 
        cybersecurity, to describe what other aspects of the 
        reporting company's cybersecurity were taken into 
        account by any person, such as an official serving on a 
        nominating committee, that is responsible for 
        identifying and evaluating nominees for membership to 
        the governing body.
  ``(c) Cybersecurity Expertise or Experience.--For purposes of 
subsection (b), the Commission, in consultation with NIST, 
shall define what constitutes expertise or experience in 
cybersecurity using commonly defined roles, specialties, 
knowledge, skills, and abilities, such as those provided in 
NIST Special Publication 800-181, entitled `National Initiative 
for Cybersecurity Education (NICE) Cybersecurity Workforce 
Framework', or any successor thereto.''.
                              ----------                              


 6. An Amendment To Be Offered by Representative Meeks of New York or 
                 His Designee, Debatable for 10 Minutes


  Add at the end the following:

            TITLE VI--DATA RELATING TO DIVERSITY DISCLOSURE

SEC. 601. SHORT TITLE.

  This title may be cited as the ``Improving Corporate 
Governance Through Diversity Act of 2021''.

SEC. 602. SUBMISSION OF DATA RELATING TO DIVERSITY BY ISSUERS.

  Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 
78m), as amended by section 502, is further amended by adding 
at the end the following:
  ``(w) Submission of Data Relating to Diversity.--
          ``(1) Definitions.--In this subsection--
                  ``(A) the term `executive officer' has the 
                meaning given the term in section 230.501(f) of 
                title 17, Code of Federal Regulations, as in 
                effect on the date of enactment of this 
                subsection; and
                  ``(B) the term `veteran' has the meaning 
                given the term in section 101 of title 38, 
                United States Code.
          ``(2) Submission of disclosure.--Each issuer required 
        to file an annual report under subsection (a) shall 
        disclose in any proxy statement and any information 
        statement relating to the election of directors filed 
        with the Commission the following:
                  ``(A) Demographic data, based on voluntary 
                self-identification, on the racial, ethnic, 
                gender identity, and sexual orientation 
                composition of--
                          ``(i) the board of directors of the 
                        issuer;
                          ``(ii) nominees for the board of 
                        directors of the issuer; and
                          ``(iii) the executive officers of the 
                        issuer.
                  ``(B) The status of any member of the board 
                of directors of the issuer, any nominee for the 
                board of directors of the issuer, or any 
                executive officer of the issuer, based on 
                voluntary self-identification, as a veteran.
                  ``(C) Whether the board of directors of the 
                issuer, or any committee of that board of 
                directors, has, as of the date on which the 
                issuer makes a disclosure under this paragraph, 
                adopted any policy, plan, or strategy to 
                promote racial, ethnic, and gender diversity 
                among--
                          ``(i) the board of directors of the 
                        issuer;
                          ``(ii) nominees for the board of 
                        directors of the issuer; or
                          ``(iii) the executive officers of the 
                        issuer.
          ``(3) Alternative submission.--In any 1-year period 
        in which an issuer required to file an annual report 
        under subsection (a) does not file with the Commission 
        a proxy statement or an information statement relating 
        to the election of directors, the issuer shall disclose 
        the information required under paragraph (2) in the 
        first annual report of issuer that the issuer submits 
        to the Commission after the end of that 1-year period.
          ``(4) Annual report.--Not later than 18 months after 
        the date of enactment of this subsection, and annually 
        thereafter, the Commission shall submit to the 
        Committee on Banking, Housing, and Urban Affairs of the 
        Senate and the Committee on Financial Services of the 
        House of Representatives, and publish on the website of 
        the Commission, a report that analyzes the information 
        disclosed under paragraphs (2) and (3) and identifies 
        any trends with respect to such information.
          ``(5) Best practices.--
                  ``(A) In general.--The Director of the Office 
                of Minority and Women Inclusion of the 
                Commission shall, not later than 3 years after 
                the date of enactment of this subsection, and 
                every 3 years thereafter, publish best 
                practices for compliance with this subsection.
                  ``(B) Comments.--The Director of the Office 
                of Minority and Women Inclusion of the 
                Commission may, pursuant to subchapter II of 
                chapter 5 of title 5, United States Code, 
                solicit public comments related to the best 
                practices published under subparagraph (A).''.

SEC. 603. DIVERSITY ADVISORY GROUP.

  (a) Definitions.--For the purposes of this section:
          (1) Advisory group.--The term ``Advisory Group'' 
        means the Diversity Advisory Group established under 
        subsection (b).
          (2) Commission.--The term ``Commission'' means the 
        Securities and Exchange Commission.
          (3) Issuer.--The term ``issuer'' has the meaning 
        given the term in section 3(a) of the Securities 
        Exchange Act of 1934 (15 U.S.C. 78c(a)).
  (b) Establishment.--The Commission shall establish a 
Diversity Advisory Group, which shall be composed of 
representatives from--
          (1) the Federal Government and State and local 
        governments;
          (2) academia; and
          (3) the private sector.
  (c) Study and Recommendations.--The Advisory Group shall--
          (1) carry out a study that identifies strategies that 
        can be used to increase gender identity, racial, 
        ethnic, and sexual orientation diversity among members 
        of boards of directors of issuers; and
          (2) not later than 270 days after the date on which 
        the Advisory Group is established, submit to the 
        Commission, the Committee on Banking, Housing, and 
        Urban Affairs of the Senate, and the Committee on 
        Financial Services of the House of Representatives a 
        report that--
                  (A) describes any findings from the study 
                conducted under paragraph (1); and
                  (B) makes recommendations regarding 
                strategies that issuers could use to increase 
                gender identity, racial, ethnic, and sexual 
                orientation diversity among board members.
  (d) Annual Report.--Not later than 1 year after the date on 
which the Advisory Group submits the report required under 
subsection (c)(2), and annually thereafter, the Commission 
shall submit to the Committee on Banking, Housing, and Urban 
Affairs of the Senate and the Committee on Financial Services 
of the House of Representatives a report that describes the 
status of gender identity, racial, ethnic, and sexual 
orientation diversity among members of the boards of directors 
of issuers.
  (e) Public Availability of Reports.--The Commission shall 
make all reports of the Advisory Group available to issuers and 
the public, including on the website of the Commission.
  (f) Inapplicability of Federal Advisory Committee Act.--The 
Federal Advisory Committee Act (5 U.S.C. App.) shall not apply 
with respect to the Advisory Group or the activities of the 
Advisory Group.
                              ----------                              


 7. An Amendment To Be Offered by Representative Phillips of Minnesota 
               or His Designee, Debatable for 10 Minutes


  Page 9, after line 10, insert the following:

SEC. 105. STUDY ON SHAREHOLDER COLLECTIVE ACTION.

  Not later than 1 year after the date of the enactment of this 
Act, the Securities and Exchange Commission shall--
          (1) conduct a study on--
                  (A) the emergence, viability, and 
                significance of coalitions of shareholders who 
                wish to preserve and promote critical 
                employment and ESG standards;
                  (B) whether and to what extent shareholder 
                collective action--
                          (i) occurs; and
                          (ii) has implications with respect to 
                        filing requirements under the 
                        Securities Exchange Act of 1934 (15 
                        U.S.C. 78a et seq.); and
                  (C) any possible anticompetitive activities 
                associated with shareholder collective action; 
                and
          (2) submit to Congress a report that includes--
                  (A) the findings of the study conducted under 
                paragraph (1);
                  (B) guidance, which may include an approved 
                list, of shareholder engagement activities that 
                are not considered to involve questions of 
                corporate control; and
                  (C) recommendations on regulatory safe 
                harbors for engagement with respect to 
                sustainability guardrails and similar 
                restrictions on portfolio company conduct with 
                a goal of--
                          (i) preserving economic justice, 
                        environmental systems, and social 
                        institutions; and
                          (ii) otherwise protecting the common 
                        interests of corporate shareholders and 
                        stakeholders.
                              ----------                              


 8. An Amendment To Be Offered by Representative Schrier of Washington 
               or Her Designee, Debatable for 10 Minutes

  Add at the end the following:

                        TITLE VI--OTHER MATTERS

SEC. 601. STUDY AND REPORT ON SMALL BUSINESSES AND ESG DISCLOSURES.

  (a) In General.--Not later than 1 year after the date of the 
enactment of this Act, the Securities and Exchange Commission, 
in coordination with the Director of the Office of the Advocate 
for Small Business Capital Formation and the Investor Advocate 
of the Office of the Investor Advocate, shall--
          (1) conduct a study on the issues small businesses 
        face with respect to complying with disclosure 
        requirements related to environmental, social, and 
        governance metrics; and
          (2) submit a report to Congress that includes--
                  (A) the results of the study required under 
                paragraph (1); and
                  (B) recommendations with respect to small 
                business compliance with such disclosure 
                requirements.
  (b) Definition of Small Business.--In this section, the term 
``small business'' has the meaning given the term ``small 
business concern'' under section 3 of the Small Business Act 
(15 U.S.C. 632).
                              ----------                              


 9. An Amendment To Be Offered by Representative Wexton of Virginia or 
                 Her Designee, Debatable for 10 Minutes

  Add at the end the following:

                TITLE VI--UYGHUR FORCED LABOR DISCLOSURE

SEC. 601. SHORT TITLE.

  This division may be cited as the ``Uyghur Forced Labor 
Disclosure Act''.

SEC. 602. DISCLOSURE OF CERTAIN ACTIVITIES RELATING TO THE XINJIANG 
                    UYGHUR AUTONOMOUS REGION.

  (a) In General.--Section 13 of the Securities Exchange Act of 
1934 (15 U.S.C. 78m), as amended by section 502, is further 
amended by adding at the end the following:
  ``(w) Disclosure of Certain Activities Relating to the 
Xinjiang Uyghur Autonomous Region.--
          ``(1) In general.--Not later than the end of the 180-
        day period beginning on the date of enactment of this 
        subsection, the Commission shall issue rules to require 
        each issuer required to file an annual report under 
        this section or section 15(d) or a proxy statement 
        under section 14 to disclose in each such report or 
        proxy statement whether, during the period covered by 
        the report or proxy statement--
                  ``(A) the issuer or any affiliate of the 
                issuer, directly or indirectly, engaged with an 
                entity or the affiliate of an entity to 
                import--
                          ``(i) manufactured goods, including 
                        electronics, food products, textiles, 
                        shoes, auto parts, polysilicon, and 
                        teas, that are sourced from or through 
                        the XUAR;
                          ``(ii) manufactured goods containing 
                        materials that are sourced from or 
                        through the XUAR; or
                          ``(iii) goods manufactured by an 
                        entity engaged in labor transfers from 
                        the XUAR;
                  ``(B) with respect to any goods or materials 
                described under subparagraph (A), whether the 
                goods or material originated in forced labor 
                camps; and
                  ``(C) with respect to each manufactured good 
                or material described under subparagraph (A)--
                          ``(i) the nature and extent of the 
                        commercial activity related to such 
                        good or material;
                          ``(ii) the gross revenue and net 
                        profits, if any, attributable to the 
                        good or material; and
                          ``(iii) whether the issuer or the 
                        affiliate of the issuer intends to 
                        continue with such importation.
          ``(2) Availability of information.--The Commission 
        shall make all information disclosed pursuant to this 
        subsection available to the public on the website of 
        the Commission.
          ``(3) Reports.--
                  ``(A) Annual report to congress.--The 
                Commission shall--
                          ``(i) conduct an annual assessment of 
                        the compliance of issuers with the 
                        requirements of this subsection; and
                          ``(ii) issue a report to Congress 
                        containing the results of the 
                        assessment required under clause (i).
                  ``(B) GAO report.--The Comptroller General of 
                the United States shall periodically evaluate 
                and report to Congress on the effectiveness of 
                the oversight by the Commission of the 
                disclosure requirements under this subsection.
          ``(4) Definitions.--In this subsection:
                  ``(A) Forced labor camp.--The term `forced 
                labor camp' means--
                          ``(i) any entity engaged in the 
                        `mutual pairing assistance' program 
                        which subsidizes the establishment of 
                        manufacturing facilities in XUAR;
                          ``(ii) any entity using convict 
                        labor, forced labor, or indentured 
                        labor described under section 307 of 
                        the Tariff Act of 1930 (19 U.S.C. 
                        1307); and
                          ``(iii) any other entity that the 
                        Commission determines is appropriate.
                  ``(B) XUAR.--The term `XUAR' means the 
                Xinjiang Uyghur Autonomous Region.''.
  (b) Repeal.--The amendment made by this section shall be 
repealed on the earlier of--
          (1) the date that is 8 years after the date of the 
        enactment of this section; or
          (2) the date on which the President submits to 
        Congress (including the Office of the Law Revision 
        Council) a determination that the Government of the 
        People's Republic of China has ended mass internment, 
        forced labor, and any other gross violations of human 
        rights experienced by Uyghurs, Kazakhs, Kyrgyz, and 
        members of other persecuted groups in the Xinjiang 
        Uyghur Autonomous Region.
                              ----------                              


  10. An Amendment To Be Offered by Representative Plaskett of Virgin 
           Islands or Her Designee, Debatable for 10 Minutes

  Page 41, line 8, insert ``means'' after ```tax 
jurisdiction'''.
  Page 41, line 9, strike ``means''.
  Page 41, beginning line 9, strike ``or a jurisdiction that is 
not a country but that has fiscal autonomy; and'' and insert 
``; or''.
  Page 41, strike lines 12 through 14.
  Page 41, after line 11, insert the following:
                          ``(ii) a jurisdiction that is not a 
                        country but that has fiscal 
                        autonomy.''.

                                  [all]