Sec. 115. Review by Committee on Foreign Investment in the United States of greenfield investments by People’s Republic of China
489 words·~2 min read·
/bill/117/hr/4792/ih/section-115A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 721(a)(4) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(a)(4) ) is amended— in subparagraph (A)— in clause (i), by striking ; and and inserting a semicolon; in clause (ii), by striking the period at the end and inserting ; and ; and by adding at the end the following: any transaction described in subparagraph (B)(vi) proposed or pending on or after the date of the enactment of the Countering Communist China Act . ; and in subparagraph (B), by adding at the end the following:
An investment by a foreign person that— involves— the completed or planned purchase or lease by, or a concession to, the foreign person of private or public real estate in the United States; and the establishment of a United States business to operate a factory or other facility on that real estate; and could result in control, including through formal or informal arrangements to act in concert, of that United States business by— the Government of the People’s Republic of China; a person owned or controlled by, or acting on behalf of, that Government; an entity in which that Government has, directly or indirectly, including through formal or informal arrangements to act in concert, a 5 percent or greater interest; an entity in which that Government has, directly or indirectly, the right or power to appoint, or approve the appointment of, any members of the board of directors, board of supervisors, or an equivalent governing body (including external directors and other individuals who perform the duties usually associated with such titles) or officers (including the president, senior vice president, executive vice president, and other individuals who perform duties normally associated with such titles) of any other entity that held, directly or indirectly, including through formal or informal arrangements to act in concert, a 5 percent or greater interest in the entity in the preceding 3 years; or an entity in which any members or officers described in item
(dd)of any other entity holding, directly or indirectly, including through formal or informal arrangements to act in concert, a 5 percent or greater interest in the entity are members of the Chinese Communist Party or have been members of the Chinese Communist Party in the preceding 3 years. . Section 721(a) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(a) ) is amended— by redesignating paragraphs
(8)through
(13)as paragraphs
(9)through (14), respectively; and by inserting after paragraph
(7)the following: The term Government of the People’s Republic of China includes the national and subnational governments within the People’s Republic of China, including any departments, agencies, or instrumentalities of such governments. . Section 721(b)(1)(C)(v)(IV)(bb) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(1)(C)(v)(IV)(bb)) is amended by adding at the end the following: The parties to a covered transaction described in subsection (a)(4)(B)(vi) shall submit a declaration described in subclause
(I)with respect to the transaction. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 115
Review by Committee on Foreign Investment in the United States of greenfield investments by People’s Republic of China
Cites 1Cited by 0 across 0 sources