summary
Introduced
07/27/2023
07/27/2023
In Committee
07/27/2023
07/27/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to provide for an investment screening mechanism relating to covered sectors.
AI Summary
This bill, the Outbound Investment Transparency Act of 2023, establishes an investment screening mechanism to protect "covered sectors" such as advanced semiconductors, artificial intelligence, and quantum information science. It requires U.S. persons to notify the Secretary of the Treasury before engaging in certain covered activities related to these sectors in "countries of concern," which are specified by regulations. The bill also mandates reporting requirements, authorizes penalties for non-compliance, and directs the Secretary of State to coordinate with U.S. allies and partners to develop similar outbound investment screening mechanisms. The overall goal is to enhance transparency and address national security risks associated with U.S. investment in critical technology areas.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 07/27/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/2678/all-info |
| BillText | https://www.congress.gov/118/bills/s2678/BILLS-118s2678is.pdf |
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