HR 1093 · 117th Congress · Foreign Trade and International Finance

Stop Funding the PLA Act

Introduced 2021-02-18· 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.(2021-02-18)

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 a U.S. person from purchasing a security of a foreign industrial defense corporation specified in the report, and it requires a U.S. person who owns any such security to divest themselves of it.…

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