Bill > S3610

This bill, titled the "No Funding for Foreign Agents Act," aims to prevent United States financial assistance from reaching entities that are controlled by agents of specific foreign governments or political parties. An "agent of a covered foreign principal" is broadly defined to include individuals acting on behalf of or under the direction or control of such foreign entities, including those involved in lobbying or who have registered or would be required to register as foreign agents. "Controlled" is defined to mean having significant ownership or management influence. "Covered foreign principals" include governments and political parties of certain nations, as well as entities primarily based in or organized under the laws of these nations, with exceptions for U.S. citizens and U.S.-based businesses not controlled by foreign agents. The bill specifically lists "covered nations" such as China, Russia, Iran, and North Korea, among others. "Direct financial assistance" refers to funds directly provided by the U.S. government through contracts, grants, or loans, while "indirect financial assistance" covers government-funded payments that beneficiaries can use to choose service providers. The core provision states that any entity controlled by an agent of a covered foreign principal is ineligible to receive either direct or indirect financial assistance from the U.S. government, though it clarifies that this restriction does not apply to entities not controlled by such agents or to existing foreign assistance programs.

Government Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/3610/all-info