What does Preamble of FIGHT China Act of 2025 do?

This bill, formally titled 'A BILL To protect the national security of the United States by imposing sanctions with respect to certain persons of the People's Republic of China and prohibiting and requiring notifications with respect to certain investments by United States persons in the People's Republic of China, and for other purposes,' aims to protect U.S. national security. The bill proposes imposing sanctions on certain individuals within the People's Republic of China. It also addresses investments by U.S. persons in the People's Republic of China, including prohibitions and notification requirements.

What does SECRETARY DEFINED. of FIGHT China Act of 2025 do?

This section defines the term 'Secretary' as used within this Act. Unless otherwise specified, the 'Secretary' refers to the Secretary of the Treasury.

What does SEVERABILITY. of FIGHT China Act of 2025 do?

This section establishes a severability clause for the Act. If a portion of the Act is deemed invalid, the remaining provisions will still be valid. The application of an invalidated provision to other individuals or situations will not be affected.

What does AUTHORIZATION OF APPROPRIATIONS. of FIGHT China Act of 2025 do?

This section authorizes appropriations of $150,000,000 to the Department of the Treasury for outreach to industry and persons affected by the Act. These funds may be transferred to the Department of Commerce to jointly conduct the outreach. The authorization covers the first two fiscal years beginning after the Act's enactment. The President is authorized to appoint up to 15 individuals to the competitive service to carry out the Act. The Secretary of the Treasury and the Secretary of Commerce may also appoint individuals to the competitive service within their respective departments to carry out the Act.

What does TERMINATION. of FIGHT China Act of 2025 do?

This Act will terminate when the Secretary of Commerce revises section 791.4 of title 15, Code of Federal Regulations. The revision must remove the People's Republic of China from the list of foreign adversaries in section 791.4.

What does IMPOSITION OF SANCTIONS. of FIGHT China Act of 2025 do?

This section establishes a framework for imposing sanctions on foreign persons deemed 'covered foreign persons'. The President, in consultation with the Secretary, can determine if a foreign person is a 'covered foreign person'. The President may impose sanctions using powers granted under the International Emergency Economic Powers Act, including blocking transactions involving property. Penalties for violating these sanctions align with those outlined in section 206 of the International Emergency Economic Powers Act. Certain activities, including those subject to reporting requirements under the National Security Act of 1947 and authorized intelligence activities, are exempt from these sanctions. Transactions for the official business of the Federal Government are also exempt. The Secretary must submit annual reports to Congress regarding foreign persons on the Non-SDN Chinese Military-Industrial Complex Companies List. In determining whether a foreign person is a 'covered foreign person', the President may consider credible information from various sources. The President is authorized to delegate authorities granted by this section to the Secretary.

What does DEFINITIONS. of FIGHT China Act of 2025 do?

This section defines key terms used within the title. “Appropriate congressional committees” are specified as the Committee on Financial Services and the Committee on Foreign Affairs of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate. “Country of concern” is defined as the People's Republic of China, and includes Hong Kong and Macau. A “covered foreign person” is defined based on factors including incorporation, principal place of business, trading location, membership in the Chinese Communist Party, government affiliation, direction/control, or ownership by entities from a country of concern, and engagement in significant operations in specific sectors. “Foreign person” is defined as any person, country, state, or government not considered a United States person. The “Non-SDN Chinese Military-Industrial Complex Companies List” refers to a list maintained by the Office of Foreign Assets Control under Executive Orders 13959 and 14032. “United States person” includes U.S. citizens, lawful permanent residents, entities organized under U.S. laws, and persons located in the U.S.

What does PROHIBITION AND NOTIFICATION ON INVESTMENTS RELATING TO of FIGHT China Act of 2025 do?

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What does REQUIREMENTS RELATING TO THE NON-SDN CHINESE MILITARY- of FIGHT China Act of 2025 do?

This section establishes requirements related to the Non-SDN Chinese Military-Industrial Complex Companies List. The Secretary must submit a report to congressional committees within 365 days of enactment and biennially for six years, identifying foreign persons potentially qualifying for inclusion on the list. The President must establish a process for Federal agencies to share information related to relevant lists. The President is required to promulgate rules prohibiting U.S. persons from knowingly holding securities of entities on the Non-SDN Chinese Military-Industrial Complex Companies List, 365 days after enactment. The President may establish a waiver process for the divestment requirement if necessary to protect national security or foreign policy objectives. The term 'country of concern' includes the People's Republic of China, Hong Kong, and Macau. The 'Non-SDN Chinese Military-Industrial Complex Companies List' is maintained by the Office of Foreign Assets Control under Executive Order 13959 and Executive Order 14032.