[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2072 Introduced in House (IH)]
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117th CONGRESS
1st Session
H. R. 2072
To amend the Securities Exchange Act of 1934 to require issuers to make
certain disclosures relating to the Xinjiang Uyghur Autonomous Region,
and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 18, 2021
Ms. Wexton (for herself, Mr. Sherman, Mr. Connolly, Mr. Deutch, Mr.
Espaillat, Ms. Norton, Mr. Cicilline, Mr. Suozzi, Mrs. Luria, Mr.
Hastings, and Mr. Carson) introduced the following bill; which was
referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To amend the Securities Exchange Act of 1934 to require issuers to make
certain disclosures relating to the Xinjiang Uyghur Autonomous Region,
and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Uyghur Forced Labor Disclosure
Act''.
SEC. 2. DISCLOSURE OF CERTAIN ACTIVITIES RELATING TO THE XINJIANG
UYGHUR AUTONOMOUS REGION.
(a) In General.--Section 13 of the Securities Exchange Act of 1934
(15 U.S.C. 78m) is amended by adding at the end the following:
``(s) Disclosure of Certain Activities Relating to the Xinjiang
Uyghur Autonomous Region.--
``(1) In general.--Not later than the end of the 180-day
period beginning on the date of enactment of this subsection,
the Commission shall issue rules to require each issuer
required to file an annual report under this section or section
15(d) or a proxy statement under section 14 to disclose in each
such report or proxy statement whether, during the period
covered by the report or proxy statement--
``(A) the issuer or any affiliate of the issuer,
directly or indirectly, engaged with an entity or the
affiliate of an entity to import--
``(i) manufactured goods, including
electronics, food products, textiles, shoes,
auto parts, polysilicon, and teas, that are
sourced from or through the XUAR;
``(ii) manufactured goods containing
materials that are sourced from or through the
XUAR; or
``(iii) goods manufactured by an entity
engaged in labor transfers from the XUAR;
``(B) with respect to any goods or materials
described under subparagraph (A), whether the goods or
material originated in forced labor camps; and
``(C) with respect to each manufactured good or
material described under subparagraph (A)--
``(i) the nature and extent of the
commercial activity related to such good or
material;
``(ii) the gross revenue and net profits,
if any, attributable to the good or material;
and
``(iii) whether the issuer or the affiliate
of the issuer intends to continue with such
importation.
``(2) Availability of information.--The Commission shall
make all information disclosed pursuant to this subsection
available to the public on the website of the Commission.
``(3) Reports.--
``(A) Annual report to congress.--The Commission
shall--
``(i) conduct an annual assessment of the
compliance of issuers with the requirements of
this subsection; and
``(ii) issue a report to Congress
containing the results of the assessment
required under clause (i).
``(B) GAO report.--The Comptroller General of the
United States shall periodically evaluate and report to
Congress on the effectiveness of the oversight by the
Commission of the disclosure requirements under this
subsection.
``(4) Definitions.--In this subsection:
``(A) Forced labor camp.--The term `forced labor
camp' means--
``(i) any entity engaged in the `mutual
pairing assistance' program which subsidizes
the establishment of manufacturing facilities
in XUAR;
``(ii) any entity using convict labor,
forced labor, or indentured labor described
under section 307 of the Tariff Act of 1930 (19
U.S.C. 1307); and
``(iii) any other entity that the
Commission determines is appropriate.
``(B) XUAR.--The term `XUAR' means the Xinjiang
Uyghur Autonomous Region.''.
(b) Repeal.--The amendment made by this section shall be repealed
on the earlier of--
(1) the date that is 8 years after the date of the
enactment of this section; or
(2) the date on which the President submits to Congress
(including the Office of the Law Revision Council) a
determination that the Government of the People's Republic of
China has ended mass internment, forced labor, and any other
gross violations of human rights experienced by Uyghurs,
Kazakhs, Kyrgyz, and members of other persecuted groups in the
Xinjiang Uyghur Autonomous Region.
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