I 

117TH CONGRESS 

1ST SESSION H. R. 1130 

To preserve national security by providing guarantees to investors for investments in businesses at risk of predatory economic tactics by the Communist Party of the People’s Republic of China, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 18, 2021 

Mr. GREEN of Tennessee 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 preserve national security by providing guarantees to 

investors for investments in businesses at risk of predatory economic tactics by the Communist Party of the 

People’s Republic of China, 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 ‘‘Secure Our Systems 

5 Against China’s Tactics Act’’ or the ‘‘SOS ACT Act’’. 

6 SEC. 2. SENSE OF CONGRESS. 

7 It is the sense of Congress that— 


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1 (1) while the United States is committed to 

2 promoting cultural and technological exchange with 

3 other countries, it is our responsibility to protect the 

4 United States when channels for such exchange are 

5 exploited by adversaries; and 

6 (2) the People’s Republic of China consistently 

7 seeks to exploit those channels, not only in its theft 

8 of intellectual property but also in its manipulation 

9 of lawful acquisition of companies in the United 

10 States in ways that directly support its military ob11 jectives and threaten those of the United States. 

12 SEC. 3. GUARANTEES. 

13 (a) IN GENERAL.—The Secretary of the Treasury is 

14 authorized to make guarantees to investors to cover up 

15 to 50 percent of the costs of an investment in an eligible 

16 business made during the emergency period (as defined 

17 in paragraph (1)(B) of section 1135(g) of the Social Secu18 rity Act (42 U.S.C. 1320b–5(g))). 

19 (b) CRITERIA FOR AWARDING GUARANTEES.— 

20 (1) IN GENERAL.—In making guarantees pur21 suant to subsection (a), the Secretary of the Treas22 ury shall, in consultation with the Secretary of De23 fense and the Secretary of Commerce, establish cri24 teria to award guarantees to investors. 


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1 (2) NATIONAL SECURITY INTEREST.—In estab2 lishing the criteria under paragraph (1), the Sec3 retary of the Treasury shall, in consultation with the 

4 Secretary of Defense and the Secretary of State, de5 termine which eligible businesses should be 

6 prioritized based on the objectives of the 2018 Na7 tional Defense Strategy. 

8 (3) REPORT REQUIRED.—Not later than 15 

9 days after the date of the enactment of this Act, the 

10 Secretary of the Treasury, the Secretary of Defense, 

11 and the Secretary of Commerce shall jointly submit 

12 to Congress a report outlining the criteria estab13 lished under paragraph (1). 

14 (c) FUNDING.—In carrying out this section, the Sec15 retary of the Treasury shall redirect, from the funds avail16 able under section 4003(b)(4) of the CARES Act (Public 

17 Law 116–136), $10,000,000,000 to fund the guarantees 

18 under subsection (a). 

19 (d) DURATION.—The Secretary of the Treasury may 

20 make the guarantees authorized under subsection (a) dur21 ing the period beginning on the date of the submission 

22 of the report required under subsection (b)(3) and ending 

23 on the date that is 1 year after the date of the enactment 

24 of this Act. 


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1 (e) LIMITATIONS.—With respect to an investment 

2 guaranteed under this section by an investor in an eligible 

3 business, if such business fails— 

4 (1) such investor may only receive monetary 

5 compensation for up to 3 years after the last day of 

6 the emergency period (as defined in paragraph 

7 (1)(B) of section 1135(g) of the Social Security Act 

8 (42 U.S.C. 1320b–5(g))), if the reason for the fail9 ure of such business is reasonably related to issues 

10 stemming from COVID–19; and 

11 (2) the Secretary of the Treasury shall deter12 mine how much money such investor may recover 

13 and whether such investor may recover money before 

14 or after the liquidation of such business. 

15 (f) ELIGIBLE BUSINESS DEFINED.—In this section, 

16 the term ‘‘eligible business’’ means a company that— 

17 (1) incurred losses as a result of COVID–19; 

18 (2) advances a national security interest; and 

19 (3) is susceptible to being purchased by an enti20 ty from, associated with, or located within China (as 

21 defined in paragraph (1)(B) of section 1135(g) of 

22 the Social Security Act (42 U.S.C. 1320b–5(g))). 

Æ 


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