An amendment numbered 20 printed in Part C of House Report 117-125 to impose sanctions to prohibit Americans from purchasing or selling newly issued Russian sovereign debt in primary and secondary markets. Requires the Office of the Director of National Intelligence to complete a report on foreign interference for each future midterm and Presidential election and directs the President, after receiving this report, to determine whether to suspend or keep in place these sanctions.

1. Adds SEC. 6013. PROHIBITION ON UNITED STATES PERSONS FROM PURCHASING OR SELLING RUSSIAN SOVEREIGN DEBT at the end of title LX of division E

   Adds a section

   Inserted: SEC. 6013. PROHIBITION ON UNITED STATES PERSONS FROM PURCHASING OR SELLING RUSSIAN SOVEREIGN DEBT.

   Inserted: (a) Prohibition.--

   Inserted: (1) In general.--Not later than 30 days after the date of the enactment of this Act, the President shall issue regulations to prohibit United States persons from purchasing or selling Russian sovereign debt that is issued or executed on or after the date that is 60 days after such date of enactment.

   Inserted: (2) Russian sovereign debt defined.--In this subsection, the term "Russian sovereign debt" means--

   Inserted: (A) bonds issued by the Russian Central Bank, the Russian National Wealth Fund, the Russian Federal Treasury, or agents or affiliates of any such institution, regardless of the currency in which they are denominated and with a maturity of more than 14 days;

   Inserted: (B) foreign exchange swap agreements with the Russian Central Bank, the Russian National Wealth Fund, or the Russian Federal Treasury, regardless of the currency in which they are denominated and with a duration of more than 14 days; and

   Inserted: (C) any other financial instrument, the maturity or duration of which is more than 14 days, that the President determines represents the sovereign debt of Russia.

   Inserted: (3) Requirement to publish guidance.--The President shall publish guidance on the implementation of the regulations issued pursuant to paragraph (1) concurrently with the publication of such regulations.

   Inserted: (b) Report.--

   Inserted: (1) In general.--Not later than 90 days after the regularly scheduled general election for Federal office in 2022, and each regularly scheduled general election for Federal office thereafter, the Director of National Intelligence, in consultation with the Director of the Federal Bureau of Investigation, the Director of the National Security Agency, and the Director of the Central Intelligence Agency, shall submit to the President, the Secretary of State, the Secretary of the Treasury, and the appropriate congressional committees and leadership a report on whether there is or is not significant evidence available for the Director to determine that the Government of Russia, or any person acting as an agent of or on behalf of that government, knowingly engaged in interference in such general election or any other election for Federal office held since the most recent prior regularly scheduled general election for Federal office, including an identification of any officials of that government, or persons acting aagents of or on behalf of that government, that knowingly engaged in interference in any such election.

   Inserted: (2) Additional report.--If the Director of Intelligence--

   Inserted: (A) determines in a report submitted under paragraph (1) that there is not significant evidence available for the Director to determine that the Government of Russia, or any person acting as an agent of or on behalf of that government, knowingly engaged in interference in any election described in paragraph (1); and

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   Inserted: (B) subsequently determines that there is significant evidence available for the Director to make such a determination, the Director shall submit to the President, the Secretary of State, the Secretary of the Treasury, and the appropriate congressional committees and leadership a report on such subsequent determination not later than 30 days after making that determination.

   Inserted: (3) Form.--Each report required by this subsection shall be submitted in unclassified form, but may include a classified annex.

   Inserted: (c) Suspension Authority.--

   Inserted: (1) In general.--The President may, for the period of time described in paragraph (3), suspend the application of any prohibition on United States persons from engaging in transactions described in subsection (a) if, not later than 30 days after the date on which a report described in subsection (b) is submitted to the officials described in subsection (b) and the appropriate congressional committees and leadership with respect to a regularly scheduled general election for Federal office, the President--

   Inserted: (A) determines that there is not significant evidence available for the President to determine that the Government of Russia, or any person acting as an agent of or on behalf of that government, knowingly engaged in interference in such general election or any other election for Federal office held since the most recent prior regularly scheduled general election for Federal office; and

   Inserted: (B) submits to the appropriate congressional committees and leadership a report that contains the determination of the President under subparagraph (A) and a justification for the determination.

   Inserted: (2) Clarification regarding suspension.--If--

   Inserted: (A) the President suspends the application of any prohibition on United States persons from engaging in transactions described in subsection (a);

   Inserted: (B) such United States persons engage in transactions described in subsection (a) involving Russian sovereign debt that is issued during the period of time in which the suspension is in effect; and

   Inserted: (C) such United States persons are subject to the application of any prohibition on United States persons from engaging in transactions described in subsection (a) after such period of time in which the suspension is in effect, such United States persons may not be subject to any prohibition on United States persons from engaging in transactions described in subsection (a) with respect to engaging in transactions involving Russian sovereign debt described in subparagraph (B).

   Inserted: (3) Time period described.--The period of time described in this paragraph is the period--

   Inserted: (A) beginning after the 60-day period described in paragraph (1)(B); and

   Inserted: (B) ending on or before the date that is 60 days after the date of the next regularly scheduled general election for Federal office.

   Inserted: (d) Waiver Authority.--The President may waive the application of any prohibition on United States persons from engaging in transactions described in subsection (a) if the President--

   Inserted: (1) determines that the waiver is in the vital national security interests of the United States; and

   Inserted: (2) submits to the appropriate congressional committees and leadership a report that contains the determination of the President under subparagraph (A).

   Inserted: (e) Definitions.--In this section:

   Inserted: (1) Appropriate congressional committees.--The term "appropriate congressional committees" means--

   Inserted: (A) the Committee on Banking, Housing, and Urban Affairs, the Committee on Foreign Relations, the Committee on Finance, the Select Committee on Intelligence, and the Committee on Rules and Administration of the Senate; and

   Inserted: (B) the Committee on Financial Services, the Committee on Foreign Affairs, the Committee on Ways and Means, the Permanent Select Committee on Intelligence, and the Committee on House Administration of the House of Representatives.

   Inserted: (2) Appropriate congressional committees and leadership.--The term "appropriate congressional committees and leadership" means--

   Inserted: (A) the appropriate congressional committees;

   Inserted: (B) the majority leader and minority leader of the Senate; and

   Inserted: (C) the Speaker, the majority leader, and the minority leader of the House of Representatives.

   Inserted: (3) Elections for federal office.--The term "elections for Federal office" has the meaning given such term in the Federal Election Campaign Act of 1971 (52 U.S.C. 30101 et seq.), except that such term does not include a special election.

   Inserted: (4) Interference in elections for federal office.--The term "interference", with respect to an election for Federal office:

   Inserted: (A) Means any of the following actions of the government of a foreign country, or any person acting as an agent of or on behalf of such a government, undertaken with the intent to influence the election:

   Inserted: (i) Obtaining unauthorized access to election and campaign infrastructure or related systems or data and releasing such data or modifying such infrastructure, systems, or data.

   Inserted: (ii) Blocking or degrading otherwise legitimate and authorized access to election and campaign infrastructure or related systems or data.

   Inserted: (iii) Contributions or expenditures for advertising, including on the internet.

   Inserted: (iv) Using social or traditional media to spread significant amounts of false information to individuals in the United States.

   Inserted: (B) Does not include communications clearly attributable to news and media outlets which are publicly and explicitly either controlled or in large part funded by the government of a foreign country.

   Inserted: (5) Knowingly.--The term "knowingly", with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.

   Inserted: (6) Person.--The term "person" means an individual or entity.

   Inserted: (7) United states person.--The term "United States person" means--

   Inserted: (A) a United States citizen or an alien lawfully admitted for permanent residence to the United States; or

   Inserted: (B) an entity organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an entity.

   Original wording

   At the end of title LX of division E, add the following:

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As printed