HR 7704 117th Congress House Finance and Financial Sector Asia Bank accounts, deposits, capital Banking and financial institutions regulation China Congressional oversight Diplomacy, foreign officials, Americans abroad Foreign and international banking Fraud offenses and financial crimes Military operations and strategy Taiwan

Taiwan Conflict Deterrence Act of 2022

Introduced: May 10, 2022 Introduced by: Hill, J. French Republican · Arkansas See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 17, 2022

Sponsor introductory remarks on measure. (CR H5092)

May 10, 2022

Referred to the House Committee on Financial Services.

May 10, 2022

Introduced in House

Plain-English summary Congressional Research Service

Taiwan Conflict Deterrence Act of 2022

This bill requires additional reporting regarding the domestic and foreign financial activity of specified Chinese officials.

Specifically, the bill requires the Department of the Treasury, upon a determination by the President that a threat to the interests of the United States exists resulting from actions by China, to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds.

The bill also allows Treasury to prohibit significant transactions between U.S. financial institutions and these individuals.

What's happening now May 17, 2022

Sponsor introductory remarks on measure. (CR H5092)

Committees of jurisdiction 1