What does Preamble of TASK Act do?

This bill, formally titled 'To require the Securities and Exchange Commission to require reporting of sourcing and due diligence activities of companies involving supply chains of products that are imported into the United States that are directly linked to products utilizing forced labor from Xinjiang, China, and for other purposes,' aims to address forced labor concerns. The bill directs the Securities and Exchange Commission to mandate reporting on sourcing and due diligence activities. The focus is on companies' supply chains for products imported into the United States. The bill specifically targets products linked to forced labor originating from Xinjiang, China.

What does SHORT TITLE. of TASK Act do?

This bill is formally titled the Transaction and Sourcing Knowledge Act

What does SEC REPORTING. of TASK Act do?

This section directs the Securities and Exchange Commission (SEC) to require reporting on environmental, social, and governance (ESG) matters by publicly traded companies. Reporting requirements include sourcing and due diligence activities related to supply chains of imported products linked to forced labor from Xinjiang, China. Companies must also report transactions with entities placed on the Department of Commerce’s Entity List or designated as Chinese Military-Industrial Complex Companies by the Department of the Treasury. For U.S. companies with facilities in China, annual reporting is required regarding the presence of a Chinese Communist Party committee within the company's operations. The annual report must also summarize the actions and corporate decisions in which any such committee participated.

Back to bills

TASK Act

Last updated: 4/8/2025 · Introduced: 4/8/2025

Author: Rick Scott (R-FL)

TL;DR (AI)

The bill requires publicly traded companies to report on their sourcing and due diligence activities related to supply chains of imported products potentially linked to forced labor from Xinjiang, China.
Companies must disclose transactions with entities restricted by the Department of Commerce or designated by the Department of the Treasury as linked to the Chinese Military-Industrial Complex.
U.S. companies operating in China are required to annually report on the presence and activities of Chinese Communist Party committees within their operations.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account