IB 

Union Calendar No. 230 

118TH CONGRESS 

1ST SESSION H. R. 803 

[Report No. 118–286, Part I] 

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 

DECEMBER 1, 2023 

Additional sponsors: Mr. LAWLER and Mr. DONALDS

DECEMBER 1, 2023 

Reported from the Committee on Financial Services with an amendment 

[Strike out all after the enacting clause and insert the part printed in italic] 

DECEMBER 1, 2023 

Committee on Foreign Affairs discharged; committed to the Committee of the 

Whole House on the State of the Union and ordered to be printed 

[For text of introduced bill, see copy of bill as introduced on February 2, 2023] 


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•HR 803 RH

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. 


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•HR 803 RH

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 Or5 ganizations To End Chinese Threats to Taiwan Act’’ or the 

6 ‘‘PROTECT Taiwan Act’’. 

7 SEC. 2. STATEMENT OF POLICY REGARDING THE EXCLU8 SION OF REPRESENTATIVES OF THE PEO9 PLE’S REPUBLIC OF CHINA FROM CERTAIN 

10 BANKING ORGANIZATIONS UPON NOTICE OF 

11 CERTAIN THREATS OR DANGER. 

12 (a) IN GENERAL.—If the President, pursuant to sec13 tion 3(c) of the Taiwan Relations Act (22 U.S.C. 3302(c)), 

14 informs the Congress of any threat to the security or the 

15 social or economic system of the people on Taiwan and any 

16 danger to the interests of the United States arising there17 from resulting from actions of the People’s Republic of 

18 China, it is the policy of the United States to seek to exclude 

19 representatives of the People’s Republic of China, to the 

20 maximum extent practicable, from participation in meet21 ings, proceedings, and other activities of the following orga22 nizations— 

23 (1) the Group of Twenty; 

24 (2) the Bank for International Settlements; 

25 (3) the Financial Stability Board; 


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•HR 803 RH

1 (4) the Basel Committee on Banking Super2 vision; 

3 (5) the International Association of Insurance 

4 Supervisors; and 

5 (6) the International Organization of Securities 

6 Commissions. 

7 (b) POLICY ADVANCEMENT.—The Secretary of the 

8 Treasury, the Board of Governors of the Federal Reserve 

9 System, and the Securities and Exchange Commission, 

10 shall take all necessary steps to advance the policy set forth 

11 in subsection (a). 

12 (c) WAIVER.—The President may waive the applica13 tion of subsection (a) with respect to an organization upon 

14 submission of a report to the Committee on Financial Serv15 ices of the House of Representatives and the Committee on 

16 Banking, Housing, and Urban Affairs of the Senate— 

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

18 of the United States; and 

19 (2) that contains an explanation of the reasons 

20 therefor. 

21 (d) SUNSET.—This Act and the requirements of this 

22 Act shall have no force or effect on the date that is the ear23 lier of— 

24 (1) 5 years after the date of the enactment of this 

25 Act; or 


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•HR 803 RH

1 (2) 30 days after the date on which the President 

2 notifies Congress that the termination of this Act is 

3 in the national interest of the United States. 


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Union Calendar No. 230 

118TH CONGRESS 

1ST SESSION H. R. 803 

[Report No. 118–286, Part I] 

A BILL 

To direct certain financial regulators to exclude 

poses. of certain threats or danger, and for other purfrom certain banking organizations upon notice representatives of the People’s Republic of China 

DECEMBER 1, 2023 

Reported from the Committee on Financial Services with 

an amendment 

DECEMBER 1, 2023 

Committee on Foreign Affairs discharged; committed to 

Union and ordered to be printed the Committee of the Whole House on the State of the 


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