The bill would let the President restrict U.S. persons from investing in or buying significant amounts of stock or debt from certain Chinese persons involved in defense or surveillance. It would also let the Treasury Secretary prohibit certain investments in covered technologies in China, Cuba, Iran, North Korea, Russia, and Venezuela under Nicolás Maduro. Other investments in those technologies would have to be reported under regulations the Secretary must issue. Covered technologies include advanced semiconductors, artificial intelligence, quantum technology, high-performance computing, and hypersonic systems. The bill also calls for reports to Congress and would expire seven years after enactment.
U.S. investors and companies could face limits or reporting duties for certain investments connected to covered people and technologies in countries of concern. The details would depend on regulations. The bill has been introduced and referred to a Senate committee; it is not described as enacted.
The bill authorizes $150 million for the Treasury Department for each of the first two fiscal years after enactment. Some of that money may be transferred to the Commerce Department for outreach and administration. This is an authorization, not a statement of actual spending.
Congress states that restricting certain U.S. investments in strategic technologies in countries of concern is needed to protect national security and foreign policy interests.
No publicly available information.