summary
Introduced
06/11/2020
06/11/2020
In Committee
06/11/2020
06/11/2020
Crossed Over
12/21/2020
12/21/2020
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to require the imposition of sanctions with respect to foreign persons that have engaged in significant theft of trade secrets of United States persons, and for other purposes. This bill imposes sanctions on certain foreign individuals and entities involved in the theft of trade secrets belonging to a U.S. individual or entity. The President shall periodically report to Congress a list of foreign individuals and entities that have engaged in, benefited from, or assisted in the significant and serial theft of U.S. trade secrets that materially contributed to a significant threat to U.S. national security, foreign policy, or economic health. The report shall also list the chief executive officers and board members of any foreign entity engaging in such theft. Individuals named in the report shall be subject to property- and visa-blocking sanctions. The President shall impose either property- or export-blocking sanctions on entities named in the report.
AI Summary
This bill imposes sanctions on certain foreign individuals and entities involved in the significant and serial theft of U.S. trade secrets that materially threaten U.S. national security, foreign policy, or economic health. The President must periodically report to Congress a list of such individuals and entities, including their chief executive officers and board members. Individuals named in the report will be subject to property- and visa-blocking sanctions, while entities will be subject to either property- or export-blocking sanctions. The President can waive the sanctions if it is in the national interest of the U.S. and can terminate the sanctions if the person is no longer engaged in the reported activity. The bill provides exceptions for intelligence activities, law enforcement, and compliance with international agreements, and does not include the authority to impose sanctions on the importation of goods.
Committee Categories
Housing and Urban Affairs
Sponsors (4)
Last Action
Held at the desk. (on 12/21/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
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