S.Amdt. 1918

SA 1918. Mr. SULLIVAN submitted an amendment intended to be proposed
to amendment SA 1502 proposed by Mr. Schumer to the bill S. 1260, to
establish a new Directorate for Technology and Innovation in the
National Science Foundation, to establish a regional technology hub
program, to require a strategy and report on economic security,
science, research, innovation, manufacturing, and job creation, to
establish a critical supply chain resiliency program, and for other
purposes; which was ordered to lie on the table; as follows:
At the end of subtitle B of title II of division E, add
the following:

SEC. 5214. DISCLOSURES REQUIRED BY UNITED STATES ENTITIES
INVESTING IN THE CHINESE COMMUNIST PARTY OR THE
PEOPLE'S LIBERATION ARMY.

(a) In General.--The Director of the Office of Foreign
Assets Control of the Department of the Treasury shall
require any United States entity that makes an investment
described subsection (b) to disclose the purpose and amount
of such investments to the Director on an annual basis.
(b) Investments Described.--An investment described in this
subsection is a monetary investment, in an amount that
exceeds an amount determined by the Director, directly or
indirectly--
(1) to--
(A) the Chinese Communist Party;
(B) an entity owned or controlled by the Chinese Communist
Party; or
(C) the People's Liberation Army; or
(2) for the benefit of any key industrial sector championed
by the Chinese Communist Party, including the following:
(A) Information technology.
(B) Artificial intelligence.
(C) The internet of things.
(D) Smart appliances.
(E) Robotics.
(F) Machine learning.
(G) Energy.
(H) Aerospace engineering.
(I) Ocean engineering.
(J) Railway equipment.
(K) Power equipment.
(L) New materials.
(M) Pharmaceuticals.
(N) Biomedicine.
(O) Medical devices.
(P) Agricultural machinery.
(c) Consolidated Report.--Not less frequently than
annually, the Director shall compile the disclosures
submitted under subsection (a) and submit that compilation
and a summary of those disclosures to--
(1) the Committee on Banking, Housing, and Urban Affairs
and the Committee on Foreign Relations of the Senate; and
(2) the Committee on Financial Services, the Committee on
Energy and Commerce, and the Committee on Foreign Affairs of
the House of Representatives.
(d) Regulations.--The Director shall prescribe such
regulations as are necessary to carry out this section, which
may include--
(1) requirements for documents and information to be
submitted with disclosures required under subsection (a); and
(2) procedures for the determining the amount under
subsection (b).
(e) United States Entity Defined.--In this section, the
term ``United States entity'' means 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.
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