House Bill 6706
116th Congress(2019-2020)
To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.
Introduced
Introduced in House on May 5, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6706
Congress
116
Policy Area
Foreign Trade and International Finance
Foreign Trade and International Finance
Primary focus of measure is competitiveness, trade barriers and adjustment assistance; foreign loans and international monetary system; international banking; trade agreements and negotiations; customs enforcement, tariffs, and trade restrictions; foreign investment. Measures concerning border enforcement may fall under Immigration policy area.
No House votes have been held for this bill.
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.
May 5, 2020
05/05/2020
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.
05/05/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:43:00 PM