HR 7064 · 116th Congress · Foreign Trade and International Finance

Stop Funding the PLA Act

Introduced 2020-06-01· Sponsored by Rep. Banks, Jim [R-IN-3]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2020-06-01)

Plain Language Summary

[AI summary unavailable — showing source text] Stop Funding the PLA Act This bill requires the Department of the Treasury to establish a list of entities the securities of which a U.S. person shall be prohibited from purchasing or holding. Specifically, the Treasury must submit a report specifying each foreign industrial defense corporation with substantial contacts with, ties to, or support from any PLA entity (any entity of the Chinese military). The bill prohibits U.S. persons from purchasing a security of a foreign industrial defense corporation specified in the report, and it requires U.S. persons who own any such security to divest themselves of it.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (3)

3 Republicans
Rep. Gallagher, Mike [R-WI-8]WI
Rep. LaMalfa, Doug [R-CA-1]CA
Rep. Stewart, Chris [R-UT-2]UT