To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.

Summary

This bill requires the Committee on Foreign Investment in the United States to review any purchase by a Chinese entity of a controlling interest in a U.S. company deemed critical to national security, critical infrastructure, or of cultural significance. The President may approve such a purchase only if, among other things, the purchase price was not significantly affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic and the sale will not permit additional access to distribute propaganda or alter U.S. news and media consumption. The bill's provisions cease to have force or effect once the United States has substantially recovered from the economic impacts of the pandemic.

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Timeline

1. 18 February 2021

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and 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.

   Source: IntroReferral

2. 18 February 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 February 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 February 2021

   Referred

   Referred to the Subcommittee on Consumer Protection and Commerce.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 18 February 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 February 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 18 February 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 February 2021

  Open at official source

Sponsors

• Jim Banks · R · Sponsor
• · hsif00 · Standing
• · hsfa00 · Standing
• · hsba00 · Standing

Related records

• related to ← To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.