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HR 7181 116th Congress House Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Asia Banking and financial institutions regulation Business records China Computer security and identity theft Congressional oversight Cultural exchanges and relations Education programs funding Financial services and investments Foreign and international corporations Government information and archives Higher education Intellectual property International exchange and broadcasting Iran Middle East North Korea

Holding China Accountable Act

Introduced: June 11, 2020 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 11, 2020
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Education and Labor, 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.
Jun 11, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Holding China Accountable Act

This bill prohibits certain Chinese nationals from receiving visas, requires higher education institutions to disclose certain foreign gifts, and restricts the use of foreign public accounting firms by foreign issuers of securities.

Specified visas may not be issued to Chinese nationals seeking to enter the United States for the purpose of (1) studying science, technology, engineering, mathematics, or a related field; (2) employment in science, technology, engineering, mathematics, or a related field; or (3) attending a business meeting, conference, or academic or cultural exchange that includes activities related to science, technology, engineering, mathematics, or a related field.

The bill also lowers the disclosure threshold regarding gifts to higher education institutions from China, Russia, Iran, and North Korea.

Additionally, the bill requires certain disclosures from foreign issuers of securities that use, for the required audit report to the Securities and Exchange Commission, a foreign public accounting firm that is not subject to inspection by the Public Company Accounting Oversight Board. If an issuer uses such a foreign public accounting firm, the issuer is generally prohibited from listing its securities on a national securities exchange.

What's happening now June 11, 2020

Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Education and Labor, 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.

 Committees of jurisdiction 3
 Cosponsors 10
All 10 Republican 10