To provide that sums in the Thrift Savings Fund may not be invested in securities that are listed on certain foreign exchanges.

SA 523. Mr. RUBIO submitted an amendment intended to be proposed by
him to the bill S. 2226, to authorize appropriations for fiscal year
2024 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. INVESTMENT OF THRIFT SAVINGS FUND.

Section 8438 of title 5, United States Code, is amended by
adding at the end the following:
``(i)(1) In this subsection--
``(A) the term `country of concern' means any country
(including any special administrative region of such country)
identified as a threat to the national security of the United
States in the most recent report submitted by the Director of
National Intelligence under section 108B of the National
Security Act of 1947 (50 U.S.C. 3043b) (commonly referred to
as the `Annual Threat Assessment');
``(B) the terms `exchange', `issuer', and `security' have
the meanings given those terms in section 3(a) of the
Securities Exchange Act of 1934 (15 U.S.C. 78c(a));
``(C) the term `national securities exchange' means an
exchange that is registered pursuant to section 6 of the
Securities Exchange Act of 1934 (15 U.S.C. 78f);
``(D) the term `publicly listed company' means an issuer,
the securities of which are listed on a national securities
exchange; and
``(E) the term `security of concern' means a security--
``(i) that is listed on an exchange in a country of
concern;
``(ii) the issuer with respect to which is incorporated in,
or otherwise subject to the jurisdiction of the government
of, a country of concern; or
``(iii) more than 50 percent of the revenue of the issuer
with respect to which is--
``(I) generated in a country of concern;
``(II) consolidated under generally accepted accounting
principles in the United States; and
``(III) after the consolidation described in subclause
(II), incorporated into the financial statement of a publicly
listed company.
``(2) Notwithstanding any other provision of this section,
no sums in the Thrift Savings Fund may be invested in any
security of concern, without regard to--
``(A) the exchange through which the security of concern is
purchased; or
``(B) whether the security of concern is purchased--
``(i) in synthetic form, such as through an equity swap or
similar financial instrument; or
``(ii) through a mutual fund made available through any
mutual fund window added pursuant to subsection (b)(5).
``(3) The Executive Director shall consult with the
Securities and Exchange Commission on a biennial basis in
order to ensure compliance with paragraph (2).
``(4) Not later than 1 year after the date of enactment of
this subsection, the Executive Director shall certify to
Congress that no sums in the Thrift Savings Fund are invested
in any security of concern.''.
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