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GENE Act
3/12/2024, 11:30 AM
Summary of Bill S 1827
One of the key provisions of the GENE Act is the prohibition of genetic discrimination in the workplace. This means that employers would be prohibited from using genetic information to make decisions about hiring, firing, or promoting employees. Additionally, the bill would require employers to keep any genetic information they have about their employees confidential.
In terms of healthcare, the GENE Act aims to ensure that individuals have access to their own genetic information and can use it to make informed decisions about their health. The bill would also prohibit health insurance companies from using genetic information to deny coverage or set premiums. Overall, the GENE Act seeks to protect individuals from discrimination based on their genetic information and ensure that this information is used responsibly and ethically in various aspects of society. It is currently being debated in Congress and may undergo changes before it is passed into law.
Congressional Summary of S 1827
Genomics Expenditures and National Security Enhancement Act of 2023 or the GENE Act
This bill establishes oversight requirements for certain foreign investments in a U.S. business that maintains or collects information about the genetic tests of U.S. citizens (including information relating to genomic sequencing).
Specifically, the Committee on Foreign Investment in the United States (CFIUS) must require the parties to specified transactions (e.g., mergers, acquisitions, or takeovers by or with any foreign person that could result in foreign control of any U.S. business) to submit a mandatory declaration containing basic information regarding the transaction.
Further, CFIUS must consult with the Department of Health and Human Services in any review or investigation of a covered transaction that involves this type of investment by a foreign person in a U.S. business.
The bill also expands the congressional committees to which CFIUS must give annual testimony concerning foreign investment in the United States to include (1) the Committee on Foreign Relations of the Senate, (2) the Select Committee on Intelligence of the Senate, (3) the Committee on Foreign Affairs of the House of Representatives, and (4) the Permanent Select Committee on Intelligence of the House of Representatives. Currently, such testimony is only given to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.
