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Stop Funding the PLA Act

2/8/2022, 11:17 PM

Congressional Summary of HR 7064

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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Current Status of Bill HR 7064

Bill HR 7064 is currently in the status of Bill Introduced since June 1, 2020. Bill HR 7064 was introduced during Congress 116 and was introduced to the House on June 1, 2020.  Bill HR 7064's most recent activity was 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. as of June 1, 2020

Bipartisan Support of Bill HR 7064

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
3
Democrat Cosponsors
0
Republican Cosponsors
3
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7064

Primary Policy Focus

Foreign Trade and International Finance

Potential Impact Areas

- Administrative law and regulatory procedures
- Asia
- China
- Congressional oversight
- Department of the Treasury
- Financial services and investments
- Foreign and international corporations
- Securities

Alternate Title(s) of Bill HR 7064

Stop Funding the PLA Act
To prohibit financial investment by a United States person in foreign industrial defense corporations with substantial contracts with, ties to, or support from, the Chinese military and affiliated entities, and for other purposes.
Stop Funding the PLA Act

Comments

Sponsors and Cosponsors of HR 7064

Jim Banks
Jim Banks
IndianaRepublican
Chris Stewart
Chris Stewart
UtahRepublican
Doug LaMalfa
Doug LaMalfa
CaliforniaRepublican
Mike Gallagher
Mike Gallagher
WisconsinRepublican

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