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 con-
cerned 
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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A BILL 
To direct certain financial regulators to exclude representa-
tives 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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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Pressure Regulatory Or-
ganizations To End Chinese Threats to Taiwan Act’’ or the 
‘‘PROTECT Taiwan Act’’. 
SEC. 2. STATEMENT OF POLICY REGARDING THE EXCLU-
SION OF REPRESENTATIVES OF THE PEO-
PLE’S REPUBLIC OF CHINA FROM CERTAIN 
BANKING ORGANIZATIONS UPON NOTICE OF 
CERTAIN THREATS OR DANGER. 
(a) IN GENERAL.—If the President, pursuant to sec-
tion 3(c) of the Taiwan Relations Act (22 U.S.C. 3302(c)), 
informs the Congress of any threat to the security or the 
social or economic system of the people on Taiwan and any 
danger to the interests of the United States arising there-
from resulting from actions of the People’s Republic of 
China, it is the policy of the United States to seek to exclude 
representatives of the People’s Republic of China, to the 
maximum extent practicable, from participation in meet-
ings, proceedings, and other activities of the following orga-
nizations— 
(1) the Group of Twenty; 
(2) the Bank for International Settlements; 
(3) the Financial Stability Board; 
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(4) the Basel Committee on Banking Super-
vision; 
(5) the International Association of Insurance 
Supervisors; and 
(6) the International Organization of Securities 
Commissions. 
(b) POLICY ADVANCEMENT.—The Secretary of the 
Treasury, the Board of Governors of the Federal Reserve 
System, and the Securities and Exchange Commission, 
shall take all necessary steps to advance the policy set forth 
in subsection (a). 
(c) WAIVER.—The President may waive the applica-
tion of subsection (a) with respect to an organization upon 
submission of a report to the Committee on Financial Serv-
ices of the House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate— 
(1) that such waiver is in the national interest 
of the United States; and 
(2) that contains an explanation of the reasons 
therefor. 
(d) SUNSET.—This Act and the requirements of this 
Act shall have no force or effect on the date that is the ear-
lier of— 
(1) 5 years after the date of the enactment of this 
Act; or 
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(2) 30 days after the date on which the President 
notifies Congress that the termination of this Act is 
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 
representatives of the People’s Republic of China 
from certain banking organizations upon notice 
of certain threats or danger, and for other pur-
poses. 
DECEMBER 1, 2023 
Reported from the Committee on Financial Services with 
an amendment 
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 
VerDate Sep 11 2014 
23:10 Dec 01, 2023
Jkt 049200
PO 00000
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