Bill > HR702

This bill eliminates immunity from suit in U.S. courts for certain foreign entities, and their corporate affiliates, that are state-owned or state-controlled. Specifically, the bill provides for jurisdiction in U.S. courts over foreign entities that (1) conduct commercial activity in the United States, and (2) are incorporated in a foreign state in which state-owned or state-controlled entities commonly engage in commercial activity. The bill also specifies that the commercial activity of such state-owned or state-controlled entities and their corporate affiliates shall be attributable to each other for the purposes of determining jurisdiction.