{"@context":"https://schema.org","@type":"Legislation","name":"Countering Communist China Act","description":"

Countering Communist China Act

This bill addresses issues related to China, tax incentives, and other topics.

The bill imposes visa- and property-blocking sanctions on certain entities and individuals that (1) are involved in acts of malign disinformation on behalf of a foreign government or political party, or (2) have engaged in a pattern of significant infringement of intellectual property belonging to a U.S. entity or individual. It also authorizes sanctions on developers and owners of software that makes unauthorized transmissions of user data to servers that are located in China and are accessible by China's government.

The bill also

provides tax incentives for relocating pharmaceutical, medical supply, or medical device manufacturing to the United States, including by allowing accelerated depreciation of nonresidential real property acquired in connection with such relocation;
eliminates the five-year amortization requirement for research and experimental expenditures scheduled to begin in 2022, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred;
prohibits an institution of higher education from receiving certain federal funds if the institution has a contractual partnership with an entity controlled by China's government or organized under China's laws;
modifies presumptions and evidentiary standards in administrative patent validity challenges;
bars China from asserting sovereign immunity in certain instances;
requires U.S. representatives to the International Monetary Fund (IMF) to take certain actions, such as opposing any increase to the weight given to China's currency when determining the value of IMF Special Drawing Rights; and
permanently rescinds unobligated funds previously made available for certain economic relief programs related to COVID-19.

","legislationIdentifier":"HR 4792","legislationType":"Bill","legislationLegalForce":"NotInForce","legislationJurisdiction":"USA","author":[{"@type":"Person","name":"Jim Banks","url":"https://legisdaily.com/mp/jim-banks-us"}],"about":{"@type":"Thing","name":"International Affairs"},"keywords":"Animal protection and human-animal relationships, Arms control and nonproliferation, Asia, Business expenses, Business investment and capital, Cardiovascular and respiratory health, Cell biology and embryology, Chemical and biological weapons, China, Civil actions and liability, Congressional committees, Congressional operations and organization, Congressional oversight, Criminal investigation, prosecution, interrogation, Drug safety, medical device, and laboratory regulation, Emergency medical services and trauma care, Employee hiring, Espionage and treason, Europe, Family relationships, Foreign aid and international relief, Foreign and international corporations, Fraud offenses and financial crimes, Freedom of information, Genetics, Government employee pay, benefits, personnel management, Government ethics and transparency, public corruption, Government information and archives, Government liability, Government studies and investigations, Health promotion and preventive care, Health technology, devices, supplies, Immigration status and procedures, Immunology and vaccination, Income tax deductions, Industrial facilities, Infectious and parasitic diseases, Intelligence activities, surveillance, classified information, International organizations and cooperation, Iran, Licensing and registrations, Manufacturing, Materials, Medical research, Middle East, Military assistance, sales, and agreements, Military procurement, research, weapons development, North Korea, Political parties and affiliation, Presidents and presidential powers, Vice Presidents, Public contracts and procurement, Research administration and funding, Research and development, Rule of law and government transparency, Russia, Sanctions, Social work, volunteer service, charitable organizations, Strategic materials and reserves, Subversive activities, Syria, Taiwan, Technology transfer and commercialization, Trade restrictions, Visas and passports, War and emergency powers, World health","dateModified":"2025-04-23T00:00:00.000Z","url":"https://legisdaily.com/bill/USA-117-HR-4792"}