Text: H.R.1549 — 115th Congress (2017-2018)All Information (Except Text)

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Introduced in House (03/15/2017)

 
[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1549 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 1549

To authorize certain private rights of action under the Foreign Corrupt 
 Practices Act of 1977 for violations that damage certain businesses, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 15, 2017

Mr. Perlmutter introduced the following bill; which was referred to the 
Committee on Energy and Commerce, and in addition to the Committees on 
the Judiciary, and Financial Services, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
To authorize certain private rights of action under the Foreign Corrupt 
 Practices Act of 1977 for violations that damage certain businesses, 
                        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 ``Foreign Business Bribery Prohibition 
Act of 2017''.

SEC. 2. ACTIONS AUTHORIZED.

    (a) Prohibited Foreign Practices by Domestic Concerns.--Section 104 
of the Foreign Corrupt Practices Act of 1977 (15 U.S.C. 78dd-2) is 
amended by adding at the end the following:
    ``(j) Private Right of Action Authorized.--
            ``(1) Authorized plaintiffs.--Any person that violates 
        subsection (a) shall be liable in an action brought in 
        accordance with this subsection in any court of competent 
        jurisdiction to any issuer that is subject to section 30A of 
        the Securities Exchange Act of 1934, domestic concern that is 
        subject to this section, or other person that is a United 
        States person, that is damaged by the violation of subsection 
        (a) of this section, for damages caused to such issuer, 
        domestic concern, or other person by the violation.
            ``(2) Proof of damages.--For purposes of this subsection, 
        the court may not find for the plaintiff in an action under 
        this subsection unless the plaintiff alleges and proves that--
                    ``(A) the defendant violated subsection (a); and
                    ``(B) the defendant's violation of subsection (a)--
                            ``(i) prevented the plaintiff from 
                        obtaining or retaining business for or with any 
                        person; and
                            ``(ii) assisted the defendant in obtaining 
                        or retaining such business.
            ``(3) Measure of damages.--
                    ``(A) In general.--The damages that a plaintiff may 
                obtain in an action under this subsection may be equal 
                to the higher of the two following amounts that are 
                established by the plaintiff's allegations and proof:
                            ``(i) The total amount of the contract or 
                        agreement that the defendant gained in 
                        obtaining or retaining business by means of the 
                        violation of subsection (a).
                            ``(ii) The total amount of the contract or 
                        agreement that the plaintiff failed to gain 
                        because of the defendant's obtaining or 
                        retaining business by means of the violation of 
                        subsection (a).
                    ``(B) Treble damages.--In assessing damages under 
                subparagraph (A), the court shall enter judgment for 
                three times the amount determined under clause (i) or 
                (ii) of such subparagraph (whichever is greater), 
                together with a reasonable attorney's fee and costs, 
                for the violation of subsection (a).
            ``(4) Exception for routine governmental action.--The 
        exception in subsection (b) shall apply to an action under this 
        subsection.
            ``(5) Affirmative defenses.--The affirmative defenses in 
        subsection (c) shall apply to an action under this subsection.
            ``(6) Contribution.--Each person who becomes liable to make 
        payment under this subsection may recover contribution as in 
        cases of contract from any person who, if joined in the 
        original suit, would have been liable to make the same payment.
            ``(7) Statute of limitations.--No action may be maintained 
        to enforce any liability created under this subsection unless 
        brought within 3 years after the discovery of the facts 
        constituting the cause of action and within 6 years after the 
        cause of action accrued.
            ``(8) United states person defined.--In this subsection, 
        the term `United States person' has the meaning given that term 
        in subsection (i)(2).''.
    (b) Prohibited Foreign Practices by Other Persons.--Section 104A of 
the Foreign Corrupt Practices Act of 1977 (15 U.S.C. 78dd-3) is 
amended--
            (1) by redesignating subsection (f) as subsection (g); and
            (2) by inserting after subsection (e) the following:
    ``(f) Private Right of Action Authorized.--
            ``(1) Authorized plaintiffs.--Any person that violates 
        subsection (a) shall be liable in an action brought in 
        accordance with this subsection in any court of competent 
        jurisdiction to any issuer that is subject to section 30A of 
        the Securities Exchange Act of 1934, domestic concern that is 
        subject to section 104 of this Act, or other person that is a 
        United States person, that is damaged by the violation of 
        subsection (a) of this section, for damages caused to such 
        issuer, domestic concern, or other person by the violation.
            ``(2) Proof of damages.--For purposes of this subsection, 
        the court may not find for the plaintiff in an action under 
        this subsection unless the plaintiff alleges and proves that--
                    ``(A) the defendant violated subsection (a); and
                    ``(B) the defendant's violation of subsection (a)--
                            ``(i) prevented the plaintiff from 
                        obtaining or retaining business for or with any 
                        person; and
                            ``(ii) assisted the defendant in obtaining 
                        or retaining such business.
            ``(3) Measure of damages.--
                    ``(A) In general.--The damages that a plaintiff may 
                obtain in an action under this subsection may be equal 
                to the higher of the two following amounts that are 
                established by the plaintiff's allegations and proof:
                            ``(i) The total amount of the contract or 
                        agreement that the defendant gained in 
                        obtaining or retaining business by means of the 
                        violation of subsection (a).
                            ``(ii) The total amount of the contract or 
                        agreement that the plaintiff failed to gain 
                        because of the defendant's obtaining or 
                        retaining business by means of the violation of 
                        subsection (a).
                    ``(B) Treble damages.--In assessing damages under 
                subparagraph (A), the court shall enter judgment for 
                three times the amount determined under clause (i) or 
                (ii) of such subparagraph (whichever is greater), 
                together with a reasonable attorney's fee and costs, 
                for the violation of subsection (a).
            ``(4) Exception for routine governmental action.--The 
        exception in subsection (b) shall apply to an action under this 
        subsection.
            ``(5) Affirmative defenses.--The affirmative defenses in 
        subsection (c) shall apply to an action under this subsection.
            ``(6) Contribution.--Each person who becomes liable to make 
        payment under this subsection may recover contribution as in 
        cases of contract from any person who, if joined in the 
        original suit, would have been liable to make the same payment.
            ``(7) Statute of limitations.--No action may be maintained 
        to enforce any liability created under this subsection unless 
        brought within 3 years after the discovery of the facts 
        constituting the cause of action and within 6 years after the 
        cause of action accrued.
            ``(8) United states person defined.--In this subsection, 
        the term `United States person' has the meaning given that term 
        in subsection (i)(2).''.
    (c) Prohibited Foreign Practices by Issuers.--Section 30A of the 
Securities Exchange Act of 1934 (15 U.S.C. 78dd-1) is amended by adding 
at the end the following:
    ``(h) Private Right of Action Authorized.--
            ``(1) Authorized plaintiffs.--Any person that violates 
        subsection (a) shall be liable in an action brought in 
        accordance with this subsection in any court of competent 
        jurisdiction to any issuer that is subject to this section, 
        domestic concern that is subject to section 104 of the Foreign 
        Corrupt Practices Act of 1977 (15 U.S.C. 78dd-2), or other 
        person that is a United States person, that is damaged by the 
        violation of subsection (a) of this section, for damages caused 
        to such issuer, domestic concern, or other person by the 
        violation.
            ``(2) Proof of damages.--For purposes of this subsection, 
        the court may not find for the plaintiff in an action under 
        this subsection unless the plaintiff alleges and proves that--
                    ``(A) the defendant violated subsection (a); and
                    ``(B) the defendant's violation of subsection (a)--
                            ``(i) prevented the plaintiff from 
                        obtaining or retaining business for or with any 
                        person; and
                            ``(ii) assisted the defendant in obtaining 
                        or retaining such business.
            ``(3) Measure of damages.--
                    ``(A) In general.--The damages that a plaintiff may 
                obtain in an action under this subsection may be equal 
                to the higher of the two following amounts that are 
                established by the plaintiff's allegations and proof:
                            ``(i) The total amount of the contract or 
                        agreement that the defendant gained in 
                        obtaining or retaining business by means of the 
                        violation of subsection (a).
                            ``(ii) The total amount of the contract or 
                        agreement that the plaintiff failed to gain 
                        because of the defendant's obtaining or 
                        retaining business by means of the violation of 
                        subsection (a).
                    ``(B) Treble damages.--In assessing damages under 
                subparagraph (A), the court shall enter judgment for 
                three times the amount determined under clause (i) or 
                (ii) of such subparagraph (whichever is greater), 
                together with a reasonable attorney's fee and costs, 
                for the violation of subsection (a).
            ``(4) Exception for routine governmental action.--The 
        exception in subsection (b) shall apply to an action under this 
        subsection.
            ``(5) Affirmative defenses.--The affirmative defenses in 
        subsection (c) shall apply to an action under this subsection.
            ``(6) Contribution.--Each person who becomes liable to make 
        payment under this subsection may recover contribution as in 
        cases of contract from any person who, if joined in the 
        original suit, would have been liable to make the same payment.
            ``(7) Statute of limitations.--No action shall be 
        maintained to enforce any liability created under this 
        subsection unless brought within 3 years after the discovery of 
        the facts constituting the cause of action and within 6 years 
        after the cause of action accrued.
            ``(8) United states person defined.--In this subsection, 
        the term `United States person' has the meaning given that term 
        in subsection (g)(2).''.

SEC. 3. EFFECTIVE DATE.

    The amendments made by this Act shall take effect on the date of 
the enactment of this Act and shall apply to causes of action accruing 
on or after such date of enactment.
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