(A) the corporation will not come under 
the ownership or control of the Government of 
the People’s Republic of China or the Chinese 
Communist Party, the Government of the Rus-
sian Federation, or any other foreign adversary; 
and 
(B) the corporation will not have its head-
quarters in the People’s Republic of China, the 
Russian Federation, or any other foreign adver-
sary; 
(3) within 2 years after the date described in 
paragraph (2), and subject to an additional exten-
sion as determined appropriate by the agency, all as-
sets of the corporation with respect to which the as-
sistance is provided will have been moved from the 
People’s Republic of China to a Latin American or 
Caribbean country; and 
(4) the corporation retains all assets of the cor-
poration with respect to which the assistance is pro-
vided in a Latin American or Caribbean country 
after the date described in paragraph (2) or the last 
day of the extension described in paragraph (3), as 
the case may be. 
(b) COMPLIANCE DETERMINATIONS.— 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(1) IN
GENERAL.—The appropriate Federal 
agency, in coordination with the Department of 
State, shall make all determinations regarding com-
pliance with the provisions of subsection (a). 
(2) NON-COMPLIANCE
ACTIONS.—A qualified 
corporation that has received assistance under sec-
tion 3 or duty-free treatment (or other preferential 
treatment) under section 4 that is subsequently de-
termined by the appropriate Federal agency not to 
be in compliance with the provisions of subsection 
(a) shall be subject to the following actions: 
(A) Any good or service made or produced 
in a Latin American or Caribbean country by 
the corporation (other than a good or service 
made or produced in a free trade zone or which 
is subject to benefits under a free trade agree-
ment) shall not be eligible for duty-free treat-
ment (or other preferential treatment) under 
section 4. 
(B) The appropriate Federal agency shall 
adjust the interest rate on any loan to be pro-
vided by the agency to the corporation to the 
prevailing market interest rate. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(c) APPROPRIATE FEDERAL AGENCY DEFINED.—In 
this section, the term ‘‘appropriate Federal agency’’ 
means— 
(1) with respect to actions relating to assistance 
under section 3, the DFC; and 
(2) with respect to actions relating to duty-free 
treatment (or other preferential treatment) under 
section 4, the United States Trade Representative. 
SEC. 6. EXPENSES PAID FOR WITH TARIFFS COLLECTED 
FROM THE PEOPLE’S REPUBLIC OF CHINA. 
(a) ESTABLISHMENT OF TRUST FUND.—There is es-
tablished in the Treasury of the United States a trust fund 
consisting of such amounts as are appropriated to such 
trust fund under subsection (b). 
(b) APPROPRIATIONS TO TRUST FUND.—There are 
hereby appropriated to such trust fund amounts equiva-
lent to the tariffs collected by the United States on goods 
manufactured in the People’s Republic of China. 
(c) APPROPRIATIONS FROM TRUST FUND.—There 
are hereby appropriated from such trust fund to the Gen-
eral Fund of the Treasury amounts equivalent to the re-
duction in revenue to such General Fund by reason of as-
sistance provided by the DFC under this Act. 
(d) TIMING OF TRANSFERS, ETC.—Rules similar to 
the rules of section 9601 of the Internal Revenue Code 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
of 1986 shall apply with respect to appropriations to and 
from such trust fund under subsections (b) and (c). 
SEC. 7. AMENDMENTS TO THE BUILD ACT OF 2018. 
(a) STATEMENT OF POLICY.—Section 1411 of the 
Better Utilization of Investments Leading to Development 
Act of 2018 (22 U.S.C. 9611) is amended— 
(1) in paragraph (7), by striking ‘‘and’’ at the 
end; 
(2) in paragraph (8), by striking the period at 
the end and inserting a semicolon; and 
(3) by adding at the end the following: 
‘‘(9) to further United States economic growth 
by prioritizing United States-owned businesses in 
providing support under title II; and 
‘‘(10) to further United States national security 
by prioritizing the production of goods in critical in-
dustries, as determined by the Corporation, in con-
sultation with the Department of Homeland Secu-
rity.’’. 
(b) PROHIBITION ON SUPPORT FOR STATE-OWNED 
ENTERPRISES.— 
(1) IN GENERAL.—Title V of the Better Utili-
zation of Investments Leading to Development Act 
of 2018 (22 U.S.C. 9671 et seq.) is amended by 
adding at the end the following: 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00012
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
‘‘SEC. 1455. PROHIBITION ON SUPPORT FOR ENTITIES 
OWNED OR CONTROLLED BY FOREIGN GOV-
ERNMENTS. 
‘‘(a) IN GENERAL.—Except as provided in subsection 
(b), the Corporation is prohibited from providing support 
under title II for an entity owned or controlled by a for-
eign government. 
‘‘(b) EXCEPTION.— 
‘‘(1) IN GENERAL.—The Corporation may pro-
vide feasibility studies and technical assistance 
under title II for an entity owned or controlled by 
a foreign government that is not a foreign adversary. 
‘‘(2) FOREIGN ADVERSARY DEFINED.—In this 
subsection, the term ‘foreign adversary’ means a for-
eign government engaged in a long-term pattern or 
serious instances of conduct significantly adverse to 
the national security of the United States or security 
and safety of United States persons.’’. 
(2) CLERICAL AMENDMENT.—The table of con-
tents for the FAA Reauthorization Act of 2018 (49 
U.S.C. 40101 note) is amended by inserting after 
the item relating to section 1454 the following: 
‘‘Sec. 1455. Prohibition on support for entities owned or controlled by foreign 
governments.’’. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00013
Fmt 6652
Sfmt 6211
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
SEC. 8. TRADE NEGOTIATING AUTHORITY. 
(a) IN GENERAL.—The United States Trade Rep-
resentative shall take action to initiate negotiations to ob-
tain trade agreements with each Latin American or Carib-
bean country that as of the date of the enactment of this 
Act is not a party to a free trade agreement with the 
United States if the country meets the conditions de-
scribed in subsection (b). 
(b) CONDITIONS DESCRIBED.—The conditions de-
scribed in this subsection are the following: 
(1) The country is taking steps to reduce mi-
gration in violation of the Immigration and Nation-
ality Act. 
(2) The country is taking steps to reduce eco-
nomic dependence on the People’s Republic of 
China. 
(3) The country allows Taiwan to establish and 
maintain a commercial office in the country. 
SEC. 9. AGREEMENTS FOR COOPERATION PURSUANT TO 
SECTION 123 OF THE ATOMIC ENERGY ACT 
OF 1954. 
(a) IN GENERAL.—The President is authorized to 
take action to initiate negotiations with Latin American 
and Caribbean countries to obtain agreements for coopera-
tion pursuant to section 123 of the Atomic Energy Act 
of 1954 (42 U.S.C. 2153) to approve the sales of nuclear 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00014
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
reactors to such countries, or to qualified corporations 
that receive assistance under this Act, but only if— 
(1) the President determines that such sales 
will not threaten the national security of the United 
States; and 
(2) the countries or qualified corporations, as 
the case may be, meet the conditions described in 
paragraphs (1), (2), and (3) of section 8(b). 
(b) TECHNICAL ASSISTANCE AND EXPERTISE.—The 
Administrator of the United States Agency for Inter-
national Development, in consultation with the Secretary 
of Energy and the DFC, may provide technical assistance 
and expertise in electrical grid and energy efficiency im-
provements related to sales under subsection (a), as appro-
priate. 
SEC. 10. TEMPORARY INCREASED EXPENSING FOR RELO-
CATING MANUFACTURING FROM THE PEO-
PLE’S REPUBLIC OF CHINA TO A LATIN 
AMERICAN OR CARIBBEAN COUNTRY. 
(a) IN GENERAL.—For purposes of section 168(k) of 
the Internal Revenue Code of 1986, in the case of any 
qualified relocated manufacturing property which is placed 
in service by a qualified manufacturer after the date of 
the enactment of this Act, and before January 1, 2038— 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00015
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(1) such property shall be treated as qualified 
property (within the meaning of such section), 
(2) the applicable percentage otherwise deter-
mined under section 168(k)(6) of such Code with re-
spect to such property shall be 75 percent, and 
(3) paragraph (8) of such section shall not 
apply. 
(b) QUALIFIED RELOCATED MANUFACTURING PROP-
ERTY.—For purposes of this section— 
(1) IN
GENERAL.—The term ‘‘qualified relo-
cated manufacturing property’’ means qualified 
property (within the meaning of section 168(k) of 
such Code) or nonresidential real property (as de-
fined in section 168(e)(2)(B) of such Code) which 
is— 
(A) placed in service in a Latin American 
or Caribbean country by a qualified manufac-
turer, and 
(B) is acquired by such qualified manufac-
turer in connection with a qualified relocation 
of manufacturing. 
(2) QUALIFIED
RELOCATION
OF
MANUFAC-
TURING.— 
(A) IN GENERAL.—The term ‘‘qualified re-
location of manufacturing’’ means, with respect 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00016
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
to any qualified manufacturer, the relocation of 
the manufacturing of any tangible personal 
property from the People’s Republic of China to 
a Latin American or Caribbean country. 
(B) RELOCATION OF PROPERTY NOT RE-
QUIRED.—For purposes of subparagraph (A), 
manufacturing shall not fail to be treated as re-
located merely because property used in such 
manufacturing was not relocated. 
(C) RELOCATION
OF
NOT
LESS
THAN 
EQUIVALENT
PRODUCTIVE
CAPACITY
RE-
QUIRED.—For purposes of subparagraph (A), 
manufacturing shall not be treated as relocated 
unless the property manufactured in a Latin 
American or Caribbean country is substantially 
identical to the property previously manufac-
tured in the People’s Republic of China and the 
increase in the units of production of such 
property in a Latin American or Caribbean 
country by the qualified manufacturer is not 
less than the reduction in the units of produc-
tion of such property by such qualified manu-
facturer in the People’s Republic of China. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00017
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(c) QUALIFIED MANUFACTURER.—For purposes of 
this section, the term ‘‘qualified manufacturer’’ means any 
person— 
(1) which is engaged in the trade or business of 
manufacturing any tangible personal property, 
(2) with respect to which the Secretary of the 
Treasury (or the Secretary’s delegate) has made the 
determination described in section 5(a)(1), and 
(3) which has entered into a binding agreement 
with such Secretary (or such delegate) to meet the 
requirements of section 5(a)(2) which is enforceable 
under terms similar to the terms of section 5(b). 
SEC. 11. DEFINITIONS. 
In this Act: 
(1) DFC.—The term ‘‘DFC’’ means the United 
States International Development Finance Corpora-
tion. 
(2) 
QUALIFIED
CORPORATION.—The 
term 
‘‘qualified corporation’’ does not include a State- 
owned enterprise. 
(3) QUALIFIED MOVING COSTS DEFINED.—The 
term ‘‘qualified moving costs’’ means— 
(A) the costs of moving inventory, equip-
ment, and supplies from the People’s Republic 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00018
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
of China to a Latin American or Caribbean 
country; and 
(B) the costs of workforce development 
and construction of facilities. 
(4) LATIN AMERICAN OR CARIBBEAN COUNTRY; 
WESTERN HEMISPHERE.— 
(A) IN
GENERAL.—The terms ‘‘Latin 
American or Caribbean country’’ and ‘‘Western 
Hemisphere’’— 
(i) mean a country in the Caribbean 
Sea, South America, or Central America, 
and Mexico; and 
(ii) except as provided in subpara-
graph (B), do not include Cuba or Ven-
ezuela. 
(B) EXCEPTION.—The term ‘‘Latin Amer-
ican or Caribbean country’’ shall include Cuba 
or Venezuela if the Secretary of State deter-
mines and certifies to Congress that— 
(i) the government of such country— 
(I) has held free and fair presi-
dential and legislative elections, as de-
termined by independent international 
observers, and subsequent elections 
are scheduled; 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00019
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(II) respects and upholds human 
rights; 
(III) is taking significant steps to 
privatize its economy and institute a 
free market; 
(IV) permits the international 
community to provide humanitarian, 
governance, and economic develop-
ment assistance; 
(V) has freed all unlawfully de-
tained United States citizens, legal 
permanent residents, and political 
prisoners; and 
(VI) has expelled all security 
services from foreign adversaries from 
the country; and 
(ii) the prior authorities of such coun-
try have renounced their illegitimate claim 
to power. 
(5) FEDERAL FUNDS RATE.—The term ‘‘Fed-
eral funds rate’’ means the discount window primary 
credit interest rate most recently published on the 
Federal Reserve Statistical Release on selected inter-
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00020
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
est rates (daily or weekly), commonly referred to as 
the H.15 release. 
Æ 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00021
Fmt 6652
Sfmt 6301
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB