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Taiwan Conflict Deterrence Act of 2022

USA117th CongressHR-7704| House 
| Updated: 5/17/2022
J. French Hill

J. French Hill

Republican Representative

Arkansas

Cosponsors (6)
Frank D. Lucas (Republican)Young Kim (Republican)Ken Buck (Republican)Andy Barr (Republican)Ann Wagner (Republican)Brad Sherman (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Taiwan Conflict Deterrence Act of 2022 This bill requires additional reporting regarding the domestic and foreign financial activity of specified Chinese officials. Specifically, the bill requires the Department of the Treasury, upon a determination by the President that a threat to the interests of the United States exists resulting from actions by China, to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. The bill also allows Treasury to prohibit significant transactions between U.S. financial institutions and these individuals.
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Timeline
May 10, 2022
Introduced in House
May 10, 2022
Referred to the House Committee on Financial Services.
May 17, 2022
Sponsor introductory remarks on measure. (CR H5092)
  • May 10, 2022
    Introduced in House


  • May 10, 2022
    Referred to the House Committee on Financial Services.


  • May 17, 2022
    Sponsor introductory remarks on measure. (CR H5092)

Finance and Financial Sector

AsiaBank accounts, deposits, capitalBanking and financial institutions regulationChinaCongressional oversightDiplomacy, foreign officials, Americans abroadForeign and international bankingFraud offenses and financial crimesMilitary operations and strategyTaiwan

Taiwan Conflict Deterrence Act of 2022

USA117th CongressHR-7704| House 
| Updated: 5/17/2022
Taiwan Conflict Deterrence Act of 2022 This bill requires additional reporting regarding the domestic and foreign financial activity of specified Chinese officials. Specifically, the bill requires the Department of the Treasury, upon a determination by the President that a threat to the interests of the United States exists resulting from actions by China, to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds. The bill also allows Treasury to prohibit significant transactions between U.S. financial institutions and these individuals.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 10, 2022
Introduced in House
May 10, 2022
Referred to the House Committee on Financial Services.
May 17, 2022
Sponsor introductory remarks on measure. (CR H5092)
  • May 10, 2022
    Introduced in House


  • May 10, 2022
    Referred to the House Committee on Financial Services.


  • May 17, 2022
    Sponsor introductory remarks on measure. (CR H5092)
J. French Hill

J. French Hill

Republican Representative

Arkansas

Cosponsors (6)
Frank D. Lucas (Republican)Young Kim (Republican)Ken Buck (Republican)Andy Barr (Republican)Ann Wagner (Republican)Brad Sherman (Democratic)

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
AsiaBank accounts, deposits, capitalBanking and financial institutions regulationChinaCongressional oversightDiplomacy, foreign officials, Americans abroadForeign and international bankingFraud offenses and financial crimesMilitary operations and strategyTaiwan