Union Calendar No. 230
118th CONGRESS 1st Session |
[Report No. 118–286, Part I]
To direct certain financial regulators to exclude representatives of the People’s Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes.
February 2, 2023
Mr. Lucas (for himself and Mr. Vicente Gonzalez of Texas) introduced the following bill; which was 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
December 1, 2023
Additional sponsors: Mr. Lawler and Mr. Donalds
December 1, 2023
Reported from the Committee on Financial Services with an amendment
[Strike out all after the enacting clause and insert the part printed in italic]
December 1, 2023
Committee on Foreign Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed
[For text of introduced bill, see copy of bill as introduced on February 2, 2023]
To direct certain financial regulators to exclude representatives of the People’s Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Pressure Regulatory Organizations To End Chinese Threats to Taiwan Act” or the “PROTECT Taiwan Act”.
SEC. 2. Statement of policy regarding the exclusion of representatives of the people’s republic of china from certain banking organizations upon notice of certain threats or danger.
(a) In general.—If the President, pursuant to section 3(c) of the Taiwan Relations Act (22 U.S.C. 3302(c)), informs the Congress of any threat to the security or the social or economic system of the people on Taiwan and any danger to the interests of the United States arising therefrom resulting from actions of the People’s Republic of China, it is the policy of the United States to seek to exclude representatives of the People’s Republic of China, to the maximum extent practicable, from participation in meetings, proceedings, and other activities of the following organizations—
(b) Policy advancement.—The Secretary of the Treasury, the Board of Governors of the Federal Reserve System, and the Securities and Exchange Commission, shall take all necessary steps to advance the policy set forth in subsection (a).
(c) Waiver.—The President may waive the application of subsection (a) with respect to an organization upon submission of a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate—
Union Calendar No. 230 | |||||
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[Report No. 118–286, Part I] | |||||
A BILL | |||||
To direct certain financial regulators to exclude representatives of the People’s Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes. | |||||
December 1, 2023 | |||||
Reported from the Committee on Financial Services with an amendment | |||||
December 1, 2023 | |||||
Committee on Foreign Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed |