H. R. 6395—1453 
(1) in subparagraph (A)— 
(A) in the heading, by adding ‘‘OR
ASSESSMENT’’ at 
the end; and 
(B) by striking ‘‘subsection (b) that concludes action 
under this section’’ and inserting ‘‘this subsection that con-
cludes action under this section, or upon the Committee 
making 
a 
notification 
under 
paragraph 
(1)(C)(v)(III)(aa)(DD)’’; and 
(2) in subparagraph (C)(i)— 
(A) in subclause (I), by striking ‘‘and’’ at the end; 
(B) in subclause (II), by striking the period at the 
end and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(III) whether the transaction is described 
under clause (i), (ii), (iii), (iv), or (v) of subsection 
(a)(4)(B).’’. 
(b) TECHNICAL CORRECTIONS.— 
(1) IN GENERAL.—Section 1727(a) of the Foreign Investment 
Risk Review Modernization Act of 2018 (Public Law 115–232) 
is amended— 
(A) in paragraph (3), by striking ‘‘(4)(C)(v)’’ and 
inserting ‘‘(4)(F)’’; and 
(B) in paragraph (4), by striking ‘‘subparagraph (B)’’ 
and inserting ‘‘subparagraph (C)’’. 
(2) EFFECTIVE DATE.—The amendments under paragraph 
(1) shall take effect on the date of enactment of the Foreign 
Investment Risk Review Modernization Act of 2018. 
SEC. 9722. ENSURING CHINESE DEBT TRANSPARENCY. 
(a) UNITED STATES POLICY AT THE INTERNATIONAL FINANCIAL 
INSTITUTIONS.—The Secretary of the Treasury shall instruct the 
United States Executive Director at each international financial 
institution (as defined in section 1701(c)(2) of the International 
Financial Institutions Act) that it is the policy of the United States 
to use the voice and vote of the United States at the respective 
institution to seek to secure greater transparency with respect 
to the terms and conditions of financing provided by the government 
of the People’s Republic of China to any member state of the 
respective institution that is a recipient of financing from the 
institution, consistent with the rules and principles of the Paris 
Club. 
(b) REPORT REQUIRED.—The Chairman of the National Advisory 
Council on International Monetary and Financial Policies shall 
include in the annual report required by section 1701 of the Inter-
national Financial Institutions Act— 
(1) a description of progress made toward advancing the 
policy described in subsection (a) of this section; and 
(2) a discussion of financing provided by entities owned 
or controlled by the government of the People’s Republic of 
China to the member states of international financial institu-
tions that receive financing from the international financial 
institutions, including any efforts or recommendations by the 
Chairman to seek greater transparency with respect to the 
former financing. 
(c) SUNSET.—Subsections (a) and (b) of this section shall have 
no force or effect after the earlier of—
H. R. 6395—1454 
(1) the date that is 7 years after the date of the enactment 
of this Act; or 
(2) 30 days after the date that the Secretary reports to 
the Committee on Financial Services of the House of Represent-
atives and the Committee on Foreign Relations of the Senate 
that the People’s Republic of China is in substantial compliance 
with the rules and principles of the Paris Club. 
SEC. 9723. ACCOUNTABILITY FOR WORLD BANK LOANS TO CHINA. 
(a) UNITED STATES SUPPORT FOR GRADUATION OF CHINA FROM 
WORLD BANK ASSISTANCE.— 
(1) IN GENERAL.—The United States Governor of the Inter-
national Bank for Reconstruction and Development (in this 
section referred to as the ‘‘IBRD’’) shall instruct the United 
States Executive Director at the IBRD that it is the policy 
of the United States to— 
(A) pursue the expeditious graduation of the People’s 
Republic of China from assistance by the IBRD, consistent 
with the lending criteria of the IBRD; and 
(B) until the graduation of China from IBRD assist-
ance, prioritize projects in China that contribute to global 
public goods, to the extent practicable. 
(2) SUNSET.—Paragraph (1) shall have no force or effect 
on or after the earlier of— 
(A) the date that is 7 years after the date of the 
enactment of this Act; or 
(B) the date that the Secretary of the Treasury reports 
to the Committee on Financial Services of the House of 
Representatives and the Committee on Foreign Relations 
of the Senate that termination of paragraph (1) is important 
to the national interest of the United States, with a detailed 
explanation of the reasons therefor. 
(b) ACCOUNTABILITY FOR WORLD BANK LOANS TO THE PEOPLE’S 
REPUBLIC OF CHINA.— 
(1) IN GENERAL.—Not later than 180 days after the date 
of the enactment of this Act, the United States Governor of 
the IBRD shall submit the report described in paragraph (2) 
to the Committee on Financial Services of the House of Rep-
resentatives and the Committee on Foreign Relations of the 
Senate. 
(2) REPORT DESCRIBED.—The report described in this para-
graph shall include the following: 
(A) A detailed description of the efforts of the United 
States Governor of the IBRD to enforce the timely gradua-
tion of countries from the IBRD, with a particular focus 
on the efforts with regard to the People’s Republic of China. 
(B) If the People’s Republic of China is a member 
country of the IBRD, an explanation of any economic or 
political factors that have prevented the graduation of the 
People’s Republic of China from the IBRD. 
(C) A discussion of any effects resulting from fungibility 
and IBRD lending to China, including the potential for 
IBRD lending to allow for funding by the government of 
the People’s Republic of China of activities that may be 
inconsistent with the national interest of the United States. 
(D) An action plan to help ensure that the People’s 
Republic of China graduates from the IBRD within 2 years
H. R. 6395—1455 
after submission of the report, consistent with the lending 
eligibility criteria of the IBRD. 
(3) WAIVER OF REQUIREMENT THAT REPORT INCLUDE ACTION 
PLAN.—The Secretary of the Treasury may waive the require-
ment of paragraph (2)(D) on reporting to the Committee on 
Financial Services of the House of Representatives and the 
Committee on Foreign Relations of the Senate that the waiver 
is important to the national interest of the United States, 
with a detailed explanation of the reasons therefor. 
(c) ENSURING DEBT TRANSPARENCY WITH RESPECT TO THE BELT 
AND ROAD INITIATIVE.—Within 180 days after the date of the enact-
ment of this Act, the Secretary of the Treasury shall, in consultation 
with the Secretary of State, submit to the Committee on Financial 
Services and the Committee on Foreign Affairs of the House of 
Representatives and the Committee on Foreign Relations of the 
Senate a report (which should be submitted in unclassified form 
but may include a classified annex) that includes the following: 
(1) An assessment of the level of indebtedness of countries 
receiving assistance through the Belt and Road Initiative that 
are also beneficiary countries of the international financial 
institutions, including the level and nature of indebtedness 
to the People’s Republic of China or an entity owned or con-
trolled by the government of the People’s Republic of China. 
(2) An analysis of debt management assistance provided 
by the World Bank, the International Monetary Fund, and 
the Office of Technical Assistance of the Department of the 
Treasury to borrowing countries of the Belt and Road Initiative 
of the People’s Republic of China (or any comparable initiative 
or successor initiative of China). 
(3) An assessment of the effectiveness of United States 
efforts, including bilateral efforts and multilateral efforts, at 
the World Bank, the International Monetary Fund, other inter-
national financial institutions and international organizations 
to promote debt transparency. 
SEC. 9724. FAIRNESS FOR TAIWAN NATIONALS REGARDING EMPLOY-
MENT AT INTERNATIONAL FINANCIAL INSTITUTIONS. 
(a) SENSE OF CONGRESS.—It is the sense of Congress that— 
(1) Taiwan is responsible for remarkable achievements in 
economic and democratic development, with its per capita gross 
domestic product rising in purchasing power parity terms from 
$3,470 in 1980 to more than $55,000 in 2018; 
(2) the experience of Taiwan in creating a vibrant and 
advanced economy under democratic governance and the rule 
of law can inform the work of the international financial institu-
tions, including through the contributions and insights of 
Taiwan nationals; and 
(3) Taiwan nationals who seek employment at the inter-
national financial institutions should not be held at a disadvan-
tage in hiring because the economic success of Taiwan has 
rendered it ineligible for financial assistance from such institu-
tions. 
(b) IN GENERAL.—The Secretary of the Treasury shall instruct 
the United States Executive Director at each international financial 
institution to use the voice and vote of the United States to seek 
to ensure that Taiwan nationals are not discriminated against
H. R. 6395—1456 
in any employment decision by the institution, including employ-
ment through consulting or part-time opportunities, on the basis 
of— 
(1) whether they are citizens or nationals of, or holders 
of a passport issued by, a member country of, or a state or 
other jurisdiction that receives assistance from, the inter-
national financial institution; or 
(2) any other consideration that, in the determination of 
the Secretary, unfairly disadvantages Taiwan nationals with 
respect to employment at the institution. 
(c) WAIVER AUTHORITY.—The Secretary of the Treasury may 
waive subsection (b) for not more than 1 year at a time after 
reporting to the Committee on Financial Services of the House 
of Representatives and the Committee on Foreign Relations of the 
Senate that providing the waiver— 
(1) will substantially promote the objective of equitable 
treatment for Taiwan nationals at the international financial 
institutions; or 
(2) is in the national interest of the United States, with 
a detailed explanation of the reasons therefor. 
(d) PROGRESS REPORT.—The Chairman of the National Advisory 
Council on International Monetary and Financial Policies shall 
submit to the committees specified in subsection (c) an annual 
report, in writing, that describes the progress made toward 
advancing the policy described in subsection (b), and a summary 
of employment trends with respect to Taiwan nationals at the 
international financial institutions. 
(e) INTERNATIONAL FINANCIAL INSTITUTION DEFINED.—In this 
section, the term ‘‘international financial institutions’’ has the 
meaning given the term in section 1701(c)(2) of the International 
Financial Institutions Act (22 U.S.C. 262r(c)(2)). 
(f) SUNSET.—The preceding provisions of this section shall have 
no force or effect beginning on the earlier of— 
(1) the date that is 7 years after the date of the enactment 
of this Act; or 
(2) the date that the Secretary of the Treasury reports 
to the committees specified in subsection (c) that each inter-
national financial institution has adopted the policy described 
in subsection (b). 
TITLE XCIX—CREATING HELPFUL IN-
CENTIVES 
TO 
PRODUCE 
SEMI-
CONDUCTORS FOR AMERICA 
Sec. 9901. Definitions. 
Sec. 9902. Semiconductor incentives. 
Sec. 9903. Department of Defense. 
Sec. 9904. Department of Commerce study on status of microelectronics tech-
nologies in the United States industrial base. 
Sec. 9905. Funding for development and adoption of measurably secure semi-
conductors and measurably secure semiconductors supply chains. 
Sec. 9906. Advanced microelectronics research and development. 
Sec. 9907. Prohibition relating to foreign entities of concern. 
Sec. 9908. Defense Production Act of 1950 efforts. 
SEC. 9901. DEFINITIONS. 
In this title: 
(1) The term ‘‘appropriate committees of Congress’’ means—