[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5614 Introduced in House (IH)]
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117th CONGRESS
1st Session
H. R. 5614
To amend the Better Utilization of Investments Leading to Development
Act of 2018 to establish restrictions relating to the People's Republic
of China with respect to the provision of support under title II of
that Act.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
October 19, 2021
Mr. Cloud introduced the following bill; which was referred to the
Committee on Foreign Affairs
_______________________________________________________________________
A BILL
To amend the Better Utilization of Investments Leading to Development
Act of 2018 to establish restrictions relating to the People's Republic
of China with respect to the provision of support under title II of
that Act.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. RESTRICTIONS RELATING TO THE PEOPLE'S REPUBLIC OF CHINA WITH
RESPECT TO THE PROVISION OF SUPPORT UNDER TITLE II OF THE
BETTER UTILIZATION OF INVESTMENTS LEADING TO DEVELOPMENT
ACT OF 2018.
(a) Purpose.--The purpose of this section and the amendments made
by this section is to prevent the People's Republic of China from being
involved in financing or carrying out projects that would directly or
indirectly benefit the People's Republic of China.
(b) In General.--Title V of the Better Utilization of Investments
Leading to Development Act of 2018 (22 U.S.C. 9671 et seq.) is
amended--
(1) by redesignating section 1454 as section 1455; and
(2) by inserting after section 1453 the following:
``SEC. 1454. RESTRICTIONS RELATING TO THE PEOPLE'S REPUBLIC OF CHINA
WITH RESPECT TO THE PROVISION OF SUPPORT UNDER TITLE II.
``(a) In General.--In providing support under title II, the
Corporation may not--
``(1) accept or use funds or goods or services that are
provided directly or indirectly by the Government of the
People's Republic of China or any covered Chinese entity; or
``(2) provide support to any individual who advises, sits
on the board of directors of, or has influence in decisions of,
a covered Chinese entity or the Chinese Development Bank, the
China ExIM Bank, Sinosure, China's State Administration of
Foreign Exchange (SAFE), or the China Investment Corporation
(CIC).
``(b) Certification.--
``(1) In general.--The Corporation shall require each
entity receiving funds for projects supported by the
Corporation under title II to certify, in good faith and in
writing, that--
``(A) it will not use such funds in violation of
the restrictions described in subsection (a); and
``(B) it will return any such funds to the
Corporation if the Corporation determines that the
entity is in violation of any such restrictions.
``(2) Penalties.--If the Corporation determines that a
certification of an entity required by paragraph (1) is
inaccurate, the entity shall be prohibited from receiving any
additional funds for projects supported by the Corporation
under title II for a period of not less than 12 months, or
until such time as the entity provides assurances to the
Corporation in writing that it will not submit a certification
that is inaccurate in the future, whichever occurs earlier. If
the Corporation determines that any subsequent certification of
an entity required by paragraph (1) is inaccurate, the entity
shall be prohibited from receiving any additional funds for
projects supported by the Corporation under title II for a
period of not less than 24 months.
``(3) Policies and procedures.--The Corporation, in
consultation with the appropriate congressional committees,
shall--
``(A) develop policies and procedures to implement
the requirements of this subsection; and
``(B) publish such policies and procedures on the
Corporation's website.
``(c) Consideration.--The Corporation and each entity receiving
funds for projects supported by the Corporation under title II shall,
for purposes of meeting the requirements of this section, take into
account the nature and extent to which the Government of the People's
Republic of China controls or otherwise influences covered Chinese
entities.
``(d) Definitions.--In this subsection:
``(1) Covered chinese entity.--The term `covered Chinese
entity' means--
``(A) an entity that is organized under the laws of
the People's Republic of China or otherwise subject to
the jurisdiction of the Government of the People's
Republic of China;
``(B) an entity that is controlled by or affiliated
with another entity that is subject to the jurisdiction
of the Government of the People's Republic of China or
a national of the People's Republic of China, including
an entity in which such other entity or national
determines, directs, or decides for the entity
important matters with respect to the business
operations of the entity; or
``(C) any other entity of the People's Republic of
China that the Corporation determines to be
appropriate.
``(2) Funds.--The term `funds' includes financial support,
technical support, or other support.''.
(c) Clerical Amendment.--The table of contents for the FAA
Reauthorization Act of 2018 (49 U.S.C. 40101 note) is amended by
striking the item relating to section 1454 and inserting the following:
``Sec. 1454. Restrictions relating to the People's Republic of China
with respect to the provision of support
under title II.
``Sec. 1455. Applicability of certain provisions of law.''.
(d) Effective Date.--The amendments made by this section--
(1) take effect on the date of the enactment of this Act;
and
(2) apply with respect to support under title II of the
Better Utilization of Investments Leading to Development Act of
2018 provided on or after such date of enactment.
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