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Stop Funding the PLA Act

USA116th CongressHR-7064| House 
| Updated: 6/1/2020
Jim Banks

Jim Banks

Republican Representative

Indiana

Cosponsors (3)
Doug LaMalfa (Republican)Chris Stewart (Republican)Mike Gallagher (Republican)

Foreign Affairs Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Stop Funding the PLA Act This bill requires the Department of the Treasury to establish a list of entities the securities of which a U.S. person shall be prohibited from purchasing or holding. Specifically, the Treasury must submit a report specifying each foreign industrial defense corporation with substantial contacts with, ties to, or support from any PLA entity (any entity of the Chinese military). The bill prohibits U.S. persons from purchasing a security of a foreign industrial defense corporation specified in the report, and it requires U.S. persons who own any such security to divest themselves of it.
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Timeline
Jun 1, 2020
Introduced in House
Jun 1, 2020
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.
  • June 1, 2020
    Introduced in House


  • June 1, 2020
    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.

Foreign Trade and International Finance

Administrative law and regulatory proceduresAsiaChinaCongressional oversightDepartment of the TreasuryFinancial services and investmentsForeign and international corporationsSecurities

Stop Funding the PLA Act

USA116th CongressHR-7064| House 
| Updated: 6/1/2020
Stop Funding the PLA Act This bill requires the Department of the Treasury to establish a list of entities the securities of which a U.S. person shall be prohibited from purchasing or holding. Specifically, the Treasury must submit a report specifying each foreign industrial defense corporation with substantial contacts with, ties to, or support from any PLA entity (any entity of the Chinese military). The bill prohibits U.S. persons from purchasing a security of a foreign industrial defense corporation specified in the report, and it requires U.S. persons who own any such security to divest themselves of it.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 1, 2020
Introduced in House
Jun 1, 2020
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.
  • June 1, 2020
    Introduced in House


  • June 1, 2020
    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.
Jim Banks

Jim Banks

Republican Representative

Indiana

Cosponsors (3)
Doug LaMalfa (Republican)Chris Stewart (Republican)Mike Gallagher (Republican)

Foreign Affairs Committee, Financial Services Committee

Foreign Trade and International Finance

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresAsiaChinaCongressional oversightDepartment of the TreasuryFinancial services and investmentsForeign and international corporationsSecurities