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S 2678 118th Congress Senate Finance and Financial Sector

Outbound Investment Transparency Act of 2023

Introduced: July 27, 2023 Introduced by: Cornyn, John Republican · Texas See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Outbound Investment Transparency Act of 2023

This bill requires U.S. persons to notify the Department of the Treasury when making investments in or engaging in other economic activity associated with North Korea, China, Russia, or Iran. This requirement applies to U.S. persons in certain sectors, including advanced semiconductors and microelectronics, artificial intelligence, and satellite-based communications. Covered activities that trigger the notification requirement include investing in an entity, establishing a venture or subsidiary, or acquiring certain positions in an entity in these countries.

U.S. persons must notify Treasury 14 days before engaging in a covered activity. However, if the covered activity is a secured transaction, notification must be provided not later than 14 days after the transaction. 

Specific information or documentary material provided to Treasury is not subject to public disclosure, with certain exceptions.

Treasury must at least annually report to Congress a summary of the notifications received under this bill.

The Department of State must engage with allied countries to coordinate protocols, procedures, and information sharing regarding these investments. The Department of Justice has the authority to enforce this bill.  

What's happening now July 27, 2023

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

 Related & companion bills 2
  • HR 2670 Related bill National Defense Authorization Act for Fiscal Year 2024
  • S 2226 Related bill National Defense Authorization Act for Fiscal Year 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 4

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 1
All 1 Republican 1
R
Sullivan, Dan
Alaska · Mar 5, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2678: Outbound Investment Transparency Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-2678/
MLA
"S. 2678: Outbound Investment Transparency Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-2678/.
Bluebook (legal)
S. 2678, 118th Cong. (2026), https://openamerica.io/bill/118-S-2678/.
Markdown link
[S. 2678: Outbound Investment Transparency Act of 2023](https://openamerica.io/bill/118-S-2678/)
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