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Bill > HR6270


US HR6270

Uyghur Forced Labor Disclosure Act of 2020


summary

Introduced
03/12/2020
In Committee
03/12/2020
Crossed Over
10/01/2020
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

Uyghur Forced Labor Disclosure Act of 2020 Uyghur Forced Labor Disclosure Act of 2020 This bill requires issuers of securities to publicly disclose their activities related to China's Xinjiang Uyghur Autonomous Region. Specifically, issuers must disclose the importation of manufactured goods and materials that originated or are sourced from that region, as well as details about the commercial activity, gross revenue and net profits, and future import plans regarding these goods and materials. Furthermore, issuers must disclose whether any of these goods or materials are from forced labor camps.

AI Summary

This bill, the Uyghur Forced Labor Disclosure Act of 2020, requires issuers of securities (companies that sell stocks or bonds) to publicly disclose their activities related to the Xinjiang Uyghur Autonomous Region (XUAR) in China. Specifically, issuers must report on the importation of goods and materials that originated or were sourced from the XUAR, including whether any of these came from forced labor camps. Issuers must also provide details on the commercial activity, revenue, profits, and future import plans for these goods and materials. The Securities and Exchange Commission (SEC) is required to issue rules to implement these disclosure requirements and provide public access to the information. Additionally, the SEC must conduct annual assessments of issuer compliance and report to Congress, while the Government Accountability Office (GAO) will periodically evaluate the effectiveness of the SEC's oversight.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (6)

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 10/01/2020)

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