A BILL 
To deter Chinese aggression towards Taiwan by requiring 
the Secretary of the Treasury to publish a report on 
financial institutions and accounts connected to senior 
officials of the People’s Republic of China, to restrict 
financial services for certain immediate family of such 
officials, 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 ‘‘Taiwan Conflict Deter-
rence Act of 2023’’. 
SEC. 2. REPORT ON FINANCIAL INSTITUTIONS AND AC-
COUNTS CONNECTED TO CERTAIN CHINESE 
GOVERNMENT OFFICIALS. 
(a) FINANCIAL INSTITUTIONS REPORT.— 
(1) IN GENERAL.—Not later than 90 days after 
the date that the President, pursuant to section 3(c) 
of the Taiwan Relations Act (22 U.S.C. 3302(c)), in-
forms the Congress of a threat resulting from actions 
of the People’s Republic of China and any danger to 
the interests of the United States arising therefrom, 
and annually thereafter for 3 years, the Secretary of 
the Treasury shall submit a report to the appropriate 
Members of Congress containing the following: 
(A) With respect to each of at least 10 nat-
ural persons described under subsection (b), at 
least 1 of whom is a natural person listed under 
paragraph (1) of such subsection (b) and at least 
1 of whom is a natural person listed under para-
graph (2) of such subsection (b), the estimated 
total funds that are held in financial institutions 
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and are under direct or indirect control by such 
natural person and a description of such funds. 
(B) A list of any financial institutions 
that— 
(i) maintain an account in connection 
with significant funds described in subpara-
graph (A); or 
(ii) otherwise provide significant fi-
nancial services to a natural person covered 
by the report. 
(2) BRIEFING
REQUIRED.—Not later than 30 
days after submitting a report described under para-
graph (1), the Secretary of the Treasury, or a des-
ignee of the Secretary, shall provide to the appro-
priate Members of Congress an unclassified or classi-
fied briefing (as determined appropriate by the Sec-
retary) on the funds covered by the report, including 
a description of how the funds were acquired, and 
any illicit or corrupt means employed to acquire or 
use the funds. 
(3) EXEMPTIONS.—The requirements described 
under paragraph (1) may not be applied with respect 
to a natural person or a financial institution, as the 
case may be, if the President determines: 
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(A) The funds described under paragraph 
(1)(A) were primarily acquired through legal 
and noncorrupt means. 
(B) The natural person has agreed to pro-
vide significant cooperation to the United States 
for an important national security purpose with 
respect to China. 
(C) A financial institution has agreed to— 
(i) no longer maintain an account de-
scribed under paragraph (1)(B)(i); 
(ii) no longer provide significant fi-
nancial services to a natural person covered 
by the report; or 
(iii) provide significant cooperation to 
the United States for an important national 
security purpose with respect to China. 
(4) WAIVER.—The President may waive any re-
quirement described under paragraph (1) with respect 
to a natural person or a financial institution upon 
reporting to the appropriate Members of Congress 
that— 
(A) the waiver would substantially promote 
the objective of ending the threat described under 
paragraph (1); 
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(B) the threat described under paragraph 
(1) is no longer present; or 
(C) the waiver is essential to the national 
security interests of the United States. 
(b) NATURAL PERSONS DESCRIBED.—The natural 
persons described in this subsection are persons who, at the 
time of a report, are the following: 
(1) A member of the Politburo Standing Com-
mittee of the Chinese Communist Party. 
(2) A member of the Politburo of the Chinese 
Communist Party that is not described under para-
graph (1). 
(3) A member of the Central Committee of the 
Chinese Communist Party that— 
(A) is none of the foregoing; and 
(B) performs any official duty that directly 
or indirectly affects Taiwan. 
(c) FORM OF REPORTS; PUBLIC AVAILABILITY.— 
(1) FORM.—The reports required under para-
graphs (1) and (4) of subsection (a) shall be sub-
mitted in unclassified form but may contain a classi-
fied annex. 
(2) PUBLIC AVAILABILITY.—The Secretary of the 
Treasury shall make the unclassified portion of the re-
port required under subsection (a)(1) available to the 
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