summary
Introduced
10/26/2020
10/26/2020
In Committee
10/26/2020
10/26/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
Generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to the national security or foreign policy interests of the United States. These entities may not sell securities to U.S. markets. Investment companies, insurance companies, and retirement plans are prohibited from investing in these entities. The bill also prohibits the use of federal funds to enter into or renew a contract with these entities. Furthermore, the Department of Commerce and the Office of the Director of National Intelligence—in addition to the Department of Defense as under current law—are allowed to add entities to the list of Chinese military companies.
AI Summary
This bill, the American Financial Markets Integrity and Security Act, generally prohibits investments in certain Chinese military companies and entities that are reasonably believed to be involved in activities contrary to U.S. national security or foreign policy interests. These entities would be prohibited from selling securities in U.S. markets, and investment companies, insurance companies, and retirement plans would be prohibited from investing in them. The bill also prohibits the use of federal funds to contract with these entities, except for a national security waiver. Additionally, the bill expands the list of Chinese military companies that can be identified by the Department of Commerce and the Office of the Director of National Intelligence, in addition to the Department of Defense.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Read twice and referred to the Committee on Finance. (on 10/26/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/4872/all-info | 10/28/2020 |
| BillText | https://www.congress.gov/116/bills/s4872/BILLS-116s4872is.pdf | 11/11/2020 |
| Bill | https://www.congress.gov/116/bills/s4872/BILLS-116s4872is.pdf.pdf | 11/11/2020 |
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