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Taiwan Conflict Deterrence Act of 2023

USA118th CongressHR-554| House 
| Updated: 9/10/2024
J. French Hill

J. French Hill

Republican Representative

Arkansas

Cosponsors (8)
Chris Pappas (Democratic)Patrick Ryan (Democratic)Young Kim (Republican)Ann Wagner (Republican)Brad Sherman (Democratic)Monica De La Cruz (Republican)Michael Lawler (Republican)Susie Lee (Democratic)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Taiwan Conflict Deterrence Act of 2023 This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials. Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.

Bill Text Versions

View Text
4 versions available

Suggested Questions

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Timeline

Bill from Previous Congress

HR 117-7704
Taiwan Conflict Deterrence Act of 2022
Jan 26, 2023
Introduced in House
Jan 26, 2023
Referred to the House Committee on Financial Services.
Feb 28, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.
Feb 28, 2023
Committee Consideration and Mark-up Session Held.
Dec 1, 2023
Placed on the Union Calendar, Calendar No. 236.
Dec 1, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.
Sep 9, 2024
Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
Sep 9, 2024
Considered under suspension of the rules. (consideration: CR H5042-5046)
Sep 9, 2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 554.
Sep 9, 2024
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
Sep 9, 2024
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
Sep 9, 2024
Motion to reconsider laid on the table Agreed to without objection.
Sep 10, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 117-7704
    Taiwan Conflict Deterrence Act of 2022


  • January 26, 2023
    Introduced in House


  • January 26, 2023
    Referred to the House Committee on Financial Services.


  • February 28, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.


  • February 28, 2023
    Committee Consideration and Mark-up Session Held.


  • December 1, 2023
    Placed on the Union Calendar, Calendar No. 236.


  • December 1, 2023
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.


  • September 9, 2024
    Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.


  • September 9, 2024
    Considered under suspension of the rules. (consideration: CR H5042-5046)


  • September 9, 2024
    DEBATE - The House proceeded with forty minutes of debate on H.R. 554.


  • September 9, 2024
    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)


  • September 9, 2024
    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)


  • September 9, 2024
    Motion to reconsider laid on the table Agreed to without objection.


  • September 10, 2024
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

AsiaBank accounts, deposits, capitalBanking and financial institutions regulationChinaCongressional oversightDiplomacy, foreign officials, Americans abroadForeign and international bankingFraud offenses and financial crimesMilitary operations and strategyTaiwan

Taiwan Conflict Deterrence Act of 2023

USA118th CongressHR-554| House 
| Updated: 9/10/2024
Taiwan Conflict Deterrence Act of 2023 This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials. Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.

Bill Text Versions

View Text
4 versions available

Suggested Questions

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

Timeline

Bill from Previous Congress

HR 117-7704
Taiwan Conflict Deterrence Act of 2022
Jan 26, 2023
Introduced in House
Jan 26, 2023
Referred to the House Committee on Financial Services.
Feb 28, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.
Feb 28, 2023
Committee Consideration and Mark-up Session Held.
Dec 1, 2023
Placed on the Union Calendar, Calendar No. 236.
Dec 1, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.
Sep 9, 2024
Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
Sep 9, 2024
Considered under suspension of the rules. (consideration: CR H5042-5046)
Sep 9, 2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 554.
Sep 9, 2024
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
Sep 9, 2024
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
Sep 9, 2024
Motion to reconsider laid on the table Agreed to without objection.
Sep 10, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 117-7704
    Taiwan Conflict Deterrence Act of 2022


  • January 26, 2023
    Introduced in House


  • January 26, 2023
    Referred to the House Committee on Financial Services.


  • February 28, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.


  • February 28, 2023
    Committee Consideration and Mark-up Session Held.


  • December 1, 2023
    Placed on the Union Calendar, Calendar No. 236.


  • December 1, 2023
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.


  • September 9, 2024
    Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.


  • September 9, 2024
    Considered under suspension of the rules. (consideration: CR H5042-5046)


  • September 9, 2024
    DEBATE - The House proceeded with forty minutes of debate on H.R. 554.


  • September 9, 2024
    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)


  • September 9, 2024
    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)


  • September 9, 2024
    Motion to reconsider laid on the table Agreed to without objection.


  • September 10, 2024
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
J. French Hill

J. French Hill

Republican Representative

Arkansas

Cosponsors (8)
Chris Pappas (Democratic)Patrick Ryan (Democratic)Young Kim (Republican)Ann Wagner (Republican)Brad Sherman (Democratic)Monica De La Cruz (Republican)Michael Lawler (Republican)Susie Lee (Democratic)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
AsiaBank accounts, deposits, capitalBanking and financial institutions regulationChinaCongressional oversightDiplomacy, foreign officials, Americans abroadForeign and international bankingFraud offenses and financial crimesMilitary operations and strategyTaiwan