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S 864 118th Congress Senate Finance and Financial Sector

TASK Act

Introduced: March 16, 2023 Introduced by: Scott, Rick Republican · Florida 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
Mar 16, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 16, 2023
Introduced in Senate
 Plain-English summary Congressional Research Service

Transaction and Sourcing Knowledge Act or the TASK Act

This bill requires the Securities and Exchange Commission to mandate the reporting of certain information by publicly traded companies. Specifically, companies must report on

  • the sourcing and due diligence involving products imported into the United States utilizing forced labor from Xinjiang, China;
  • transactions with companies on the Department of Commerce's trade restriction list or designated as Chinese military-industrial complex companies; and
  • for U.S. companies with facilities in China, whether there is a Chinese Communist Party committee in the operations of the company, and a summary of that committee's activity.
What's happening now March 16, 2023

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

 Committees of jurisdiction 1