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To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.

Introduced: February 18, 2021 Introduced by: Banks, Jim Republican · Indiana See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 19, 2021
Referred to the Subcommittee on Consumer Protection and Commerce.
Feb 18, 2021
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, 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.
Feb 18, 2021
Introduced in House
 Plain-English summary Congressional Research Service

This bill requires the Committee on Foreign Investment in the United States to review any purchase by a Chinese entity of a controlling interest in a U.S. company deemed critical to national security, critical infrastructure, or of cultural significance. The President may approve such a purchase only if, among other things, the purchase price was not significantly affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic and the sale will not permit additional access to distribute propaganda or alter U.S. news and media consumption.

The bill's provisions cease to have force or effect once the United States has substantially recovered from the economic impacts of the pandemic.

What's happening now February 19, 2021

Referred to the Subcommittee on Consumer Protection and Commerce.

 Committees of jurisdiction 4