I 

118TH CONGRESS 

1ST SESSION H. R. 803 

To direct certain financial regulators to exclude representatives of the People’s 

Republic of China from certain banking organizations upon notice of 

certain threats or danger, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 2, 2023 

Mr. LUCAS (for himself and Mr. VICENTE GONZALEZ of Texas) introduced the 

following bill; which was referred to the Committee on Financial Services, 

and in addition to the Committee on Foreign Affairs, 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 direct certain financial regulators to exclude representatives of the People’s Republic of China from certain 

banking organizations upon notice of certain threats or 

danger, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Pressure Regulatory 

5 Organizations To End Chinese Threats to Taiwan Act’’ 

6 or the ‘‘PROTECT Taiwan Act’’. 


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•HR 803 IH

1 SEC. 2. EXCLUSION OF REPRESENTATIVES OF THE PEO2 PLE’S REPUBLIC OF CHINA FROM CERTAIN 

3 BANKING ORGANIZATIONS UPON NOTICE OF 

4 CERTAIN THREATS OR DANGER. 

5 (a) IN GENERAL.—Not later than 10 days after the 

6 date that the President, pursuant to section 3(c) of the 

7 Taiwan Relations Act (22 U.S.C. 3302(c)), informs the 

8 Congress of any threat to the security or the social or eco9 nomic system of the people on Taiwan and any danger 

10 to the interests of the United States arising therefrom re11 sulting from actions of the People’s Republic of China, the 

12 Secretary of the Treasury, the Board of Governors of the 

13 Federal Reserve System, and the Securities and Exchange 

14 Commission (as appropriate) shall take all necessary steps 

15 to exclude representatives of the People’s Republic of 

16 China from participation in meetings, proceedings, and 

17 other activities of the following organizations: 

18 (1) The Group of Twenty. 

19 (2) The Bank for International Settlements. 

20 (3) The Financial Stability Board. 

21 (4) The Basel Committee on Banking Super22 vision. 

23 (5) The International Association of Insurance 

24 Supervisors. 

25 (6) The International Organization of Securities 

26 Commissions. 


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•HR 803 IH

1 (b) WAIVER.—The President may waive the applica2 tion of subsection (a) upon submission of a report to the 

3 Committee on Financial Services of the House of Rep4 resentatives and the Committee on Banking, Housing, and 

5 Urban Affairs of the Senate— 

6 (1) that such waiver is in the national interest 

7 of the United States; and 

8 (2) that contains an explanation of the reasons 

9 therefor. 

10 (c) SUNSET.—This Act and the requirements of this 

11 Act shall have no force or effect on the date that is the 

12 earlier of— 

13 (1) 5 years after the date of the enactment of 

14 this Act; or 

15 (2) 30 days after the date on which the Presi16 dent notifies Congress that the termination of this 

17 Act is in the national interest of the United States. 

Æ 


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