TASK Act

Hozzl · 2023-12-15T16:06:40Z

Explore the details of Senate Bill 864 TASK Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 4:06 PM

Congressional Summary of S 864

Transaction and Sourcing Knowledge Act or the TASK Act

This bill requires the Securities and Exchange Commission to mandate the reporting of certain information by publicly traded companies. Specifically, companies must report on

the sourcing and due diligence involving products imported into the United States utilizing forced labor from Xinjiang, China;
transactions with companies on the Department of Commerce's trade restriction list or designated as Chinese military-industrial complex companies; and
for U.S. companies with facilities in China, whether there is a Chinese Communist Party committee in the operations of the company, and a summary of that committee's activity.

Current Status of Bill S 864

Bill S 864 is currently in the status of Bill Introduced since March 16, 2023. Bill S 864 was introduced during Congress 118 and was introduced to the Senate on March 16, 2023. Bill S 864's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 16, 2023

Bipartisan Support of Bill S 864

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 864

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 864

TASK Act

Transaction and Sourcing Knowledge Act

A bill to require the Securities and Exchange Commission to require reporting of sourcing and due diligence activities of companies involving supply chains of products that are imported into the United States that are directly linked to products utilizing forced labor from Xinjiang, China, and for other purposes.