This bill directs the President to impose sanctions on people and entities that operate in parts of the People's Republic of China economy if they have engaged in a pattern of significant theft of the intellectual property of a United States person or received such stolen intellectual property.
Sanctions in the bill include blocking and prohibiting transactions in all property and interests in property under the International Emergency Economic Powers Act (IEEPA), and making covered aliens inadmissible to the United States, ineligible for visas, and subject to visa revocation and entry denial.
The bill defines covered persons as: (1) individuals who are nationals of the People's Republic of China or acting at the direction of such nationals or covered entities and who are not United States persons, and (2) entities organized under PRC law or owned/controlled by PRC nationals or covered entities. Penalties for violating asset-blocking provisions follow the penalties in IEEPA.
The President may waive or terminate sanctions in specified circumstances, including a case-by-case national security waiver and a certification that a person is no longer engaging in IP theft. The President must report to Congress within 180 days listing each person the President determines meets the criteria for sanctions.
Separately, the bill bars issuance of visas and entry to senior officials of the Chinese Communist Party (including the Politburo, Central Committee, and delegates to the 20th National Congress), their spouses and children, cabinet members of the PRC government, and active duty members of the People's Liberation Army. The visa restriction may be lifted for any year if the President certifies that the PRC has ceased sponsoring or supporting efforts to infringe U.S. intellectual property rights. The Secretary of State must submit a report within 180 days on visa screening efficacy and list research institutions associated with the PLA and the Ministry of State Security.
No publicly available information on budgetary costs or appropriations is provided in the bill text or metadata. The bill does require reports to Congress within 180 days, but it does not include cost estimates in the text.
The bill's stated purpose is to impose sanctions on persons that operate in sectors of the PRC economy where they have engaged in a pattern of significant theft of the intellectual property of United States persons. The text focuses on tools—asset blocking, visa restrictions, and reporting—to address that theft.
No publicly available information on opponents' views or arguments is included in the bill text or the provided metadata.