HR 554 118th 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 2023

Introduced: January 26, 2023 Introduced by: Hill, J. French Republican · Arkansas See on congress.gov

Everywhere this bill has been 13 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 10, 2024

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sep 9, 2024

Motion to reconsider laid on the table Agreed to without objection.

Sep 9, 2024

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)

Sep 9, 2024

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)

Sep 9, 2024

DEBATE - The House proceeded with forty minutes of debate on H.R. 554.

Sep 9, 2024

Considered under suspension of the rules. (consideration: CR H5042-5046)

Sep 9, 2024

Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.

Dec 1, 2023

Placed on the Union Calendar, Calendar No. 236.

Dec 1, 2023

Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.

Feb 28, 2023

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.

Feb 28, 2023

Committee Consideration and Mark-up Session Held.

Jan 26, 2023

Referred to the House Committee on Financial Services.

Jan 26, 2023

Introduced in House

Plain-English summary Congressional Research Service

Taiwan Conflict Deterrence Act of 2023

This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials.

Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury 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.

After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.

What's happening now September 10, 2024

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees of jurisdiction 2