RESTRICT Act

Hozzl · 2024-01-09T05:15:22Z

Explore the details of Senate Bill 686 RESTRICT Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Foreign Trade and International Finance. Stay informed on legislative developments.

1/9/2024, 5:15 AM

Congressional Summary of S 686

Restricting the Emergence of Security Threats that Risk Information and Communications Technology Act or the RESTRICT Act

This bill requires federal actions to identify and mitigate foreign threats to information and communications technology (ICT) products and services (e.g., social media applications). It also establishes civil and criminal penalties for violations under the bill.

Specifically, the Department of Commerce must identify, deter, disrupt, prevent, prohibit, investigate, and mitigate transactions involving ICT products and services (1) in which any foreign adversary (such as China) has any interest, and (2) that pose an undue or unacceptable risk to U.S. national security or the safety of U.S. persons.

Additionally, Commerce must identify and refer to the President any covered holding (e.g., stock or security) that poses an undue or unacceptable risk to U.S. national security or the security and safety of U.S. persons. If the President determines that the holding poses such a risk, the President may compel divestment of or otherwise mitigate the risk associated with the holding.

Commerce may (1) designate any foreign government or regime as a foreign adversary upon a determination that the foreign government or regime is engaged in a long-term pattern or serious instances of conduct significantly adverse to U.S. national security or the security and safety of U.S. persons, and (2) remove such a designation. Commerce must notify Congress before making or removing a designation; these actions are subject to congressional disapproval.

The bill outlines (1) enforcement mechanisms, including actions by the Department of Justice; and (2) civil and criminal penalties for violations.

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Current Status of Bill S 686

Bill S 686 is currently in the status of Bill Introduced since March 7, 2023. Bill S 686 was introduced during Congress 118 and was introduced to the Senate on March 7, 2023. Bill S 686's most recent activity was Read twice and referred to the Committee on Commerce, Science, and Transportation. as of March 7, 2023

Bipartisan Support of Bill S 686

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 686

Primary Policy Focus

Foreign Trade and International Finance

Potential Impact Areas

Administrative law and regulatory proceduresAsiaChinaCivil actions and liabilityComputer security and identity theftComputers and information technologyCongressional oversightCongressional-executive branch relationsCrime preventionCubaDepartment of CommerceEuropeFederal appellate courtsGovernment information and archivesIntelligence activities, surveillance, classified informationInternet, web applications, social mediaIranJudicial procedure and administrationJudicial review and appealsLatin AmericaLegislative rules and procedureLicensing and registrationsMiddle EastNorth KoreaPresidents and presidential powers, Vice PresidentsRussiaSecuritiesSubversive activitiesU.S. and foreign investmentsVenezuela

Alternate Title(s) of Bill S 686

RESTRICT ActRESTRICT ActRestricting the Emergence of Security Threats that Risk Information and Communications Technology ActA bill to authorize the Secretary of Commerce to review and prohibit certain transactions between persons in the United States and foreign adversaries, and for other purposes.

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