This bill requires the Secretary of Defense to suspend or revoke security clearances for former Department of Defense personnel who engage in lobbying activities for specific Chinese military companies. This applies to both retired or separated members of the Armed Forces and civilian employees who previously held clearances. The prohibition targets individuals who lobby for entities identified by the Secretary of Defense as Chinese military companies and also included on the Department of the Treasury's Non-SDN Chinese Military-Industrial Complex Companies List. The intent is to prevent former officials with access to classified information from using their influence or knowledge to benefit foreign adversaries. However, the Secretary of Defense retains the authority to issue a temporary waiver, not exceeding 180 days, if it is certified to be in the national security interest of the United States and reported to the congressional defense committees.