Entity List Verification Act

Entity List Verification Act

This bill prohibits the Department of Commerce from removing an entity from the entity list until Commerce certifies that the entity is no longer reasonably believed to be involved in activities contrary to U.S. national security interests or foreign policy interests. The entity list provides the names of foreign entities who are subject to specific license requirements for the export, reexport, or transfer of specified items.

The Entity List Verification Act, also known as Bill 117 hr 4561, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to enhance the verification process for entities that are placed on the Entity List by the Department of Commerce.

The Entity List is a list maintained by the Department of Commerce that identifies foreign entities that pose a threat to US national security or foreign policy interests. These entities are subject to certain restrictions and licensing requirements when it comes to doing business with US companies.

The Entity List Verification Act aims to improve the accuracy and effectiveness of the Entity List by requiring the Department of Commerce to verify the information provided by entities that are seeking to be removed from the list. This verification process would involve conducting thorough background checks and investigations to ensure that the entities no longer pose a threat to US interests. Additionally, the bill includes provisions for increased transparency and accountability in the Entity List process. It requires the Department of Commerce to provide regular updates to Congress on the status of entities on the list and the actions taken to verify their information. Overall, the Entity List Verification Act seeks to strengthen US national security by ensuring that entities on the Entity List are accurately identified and monitored. It also aims to promote transparency and accountability in the process of managing the Entity List.