Exposing China's Belt and Road Investment in America Act of 2021
This bill requires the Committee on Foreign Investment in the United States to review certain investments made by China in the United States.
Specifically, the committee must review any investment by a foreign person that (1) involves the acquisition of real estate in the United States and the establishment of a U.S. business on such real estate, and (2) could result in direct or indirect control of that U.S. business by China. A party to any such investment must submit to the committee a declaration containing basic information regarding the transaction.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5806 Introduced in House (IH)]
<DOC>
117th CONGRESS
1st Session
H. R. 5806
To require the review by the Committee on Foreign Investment in the
United States of greenfield investments by the People's Republic of
China.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 1, 2021
Mr. Stewart (for himself, Ms. Mace, Mr. Babin, Mr. Guest, Mr. Owens,
Mr. Katko, Mr. Bishop of North Carolina, Mrs. Wagner, Mr. Weber of
Texas, and Mr. Crawford) introduced the following bill; which was
referred to the Committee on Financial Services, and in addition to the
Committees on Energy and Commerce, and Foreign Affairs, for a period to
be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the
committee concerned
_______________________________________________________________________
A BILL
To require the review by the Committee on Foreign Investment in the
United States of greenfield investments by the People's Republic of
China.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Exposing China's Belt and Road
Investment in America Act of 2021''.
SEC. 2. REVIEW BY COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES
OF GREENFIELD INVESTMENTS BY PEOPLE'S REPUBLIC OF CHINA.
(a) Inclusion in Definition of Covered Transaction.--Section
721(a)(4) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4))
is amended--
(1) in subparagraph (A)--
(A) in clause (i), by striking ``; and'' and
inserting a semicolon;
(B) in clause (ii), by striking the period at the
end and inserting ``; and''; and
(C) by adding at the end the following:
``(iii) any transaction described in
subparagraph (B)(vi) proposed or pending on or
after the date of the enactment of this
clause.''; and
(2) in subparagraph (B), by adding at the end the
following:
``(vi) An investment by a foreign person
that--
``(I) involves--
``(aa) the completed or
planned purchase or lease by,
or a concession to, the foreign
person of private or public
real estate in the United
States; and
``(bb) the establishment of
a United States business to
operate a factory or other
facility on that real estate;
and
``(II) could result in control,
including through formal or informal
arrangements to act in concert, of that
United States business by--
``(aa) the Government of
the People's Republic of China;
``(bb) a person owned or
controlled by, or acting on
behalf of, that Government;
``(cc) an entity in which
that Government has, directly
or indirectly, including
through formal or informal
arrangements to act in concert,
a 5 percent or greater
interest;
``(dd) an entity in which
that Government has, directly
or indirectly, the right or
power to appoint, or approve
the appointment of, any members
of the board of directors,
board of supervisors, or an
equivalent governing body
(including external directors
and other individuals who
perform the duties usually
associated with such titles) or
officers (including the
president, senior vice
president, executive vice
president, and other
individuals who perform duties
normally associated with such
titles) of any other entity
that held, directly or
indirectly, including through
formal or informal arrangements
to act in concert, a 5 percent
or greater interest in the
entity in the preceding 3
years; or
``(ee) an entity in which
any members or officers
described in item (dd) of any
other entity holding, directly
or indirectly, including
through formal or informal
arrangements to act in concert,
a 5 percent or greater interest
in the entity are members of
the Chinese Communist Party or
have been members of the
Chinese Communist Party in the
preceding 3 years.''.
(b) Definition of Government of People's Republic of China.--
Section 721(a) of the Defense Production Act of 1950 (50 U.S.C.
4565(a)) is amended--
(1) by redesignating paragraphs (7) through (13) as
paragraphs (8) through (14), respectively; and
(2) by inserting after paragraph (6) the following:
``(7) Government of people's republic of china.--The term
`Government of the People's Republic of China' includes the
national and subnational governments within the People's
Republic of China, including any departments, agencies, or
instrumentalities of such governments.''.
(c) Mandatory Filing of Declarations.--Section
721(b)(1)(C)(v)(IV)(bb) of the Defense Production Act of 1950 (50
U.S.C. 4565(b)(1)(C)(v)(IV)(bb)) is amended by adding at the end the
following:
``(DD) Greenfield
investments by people's
republic of china.--The
parties to a covered
transaction described
in subsection
(a)(4)(B)(vi) shall
submit a declaration
described in subclause
(I) with respect to the
transaction.''.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Consumer Protection and Commerce.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line