Uyghur Forced Labor Disclosure Act
Bill: H.R.2072 | Sponsor: Rep. Wexton, Jennifer (D-VA)
Policy area: Finance and Financial Sector

Summary:
Uyghur Forced Labor Disclosure Act
This bill requires issuers of securities to publicly disclose their activities related to China's Xinjiang Uyghur Autonomous Region. Specifically, issuers must disclose the importation of manufactured goods and materials that originated or are sourced from that region, as well as details about the commercial activity, gross revenue and net profits, and future import plans regarding these goods and materials. Furthermore, issuers must disclose whether any of these goods or materials are from forced labor camps.

To amend the Securities Exchange Act of 1934 to require issuers to make 
certain disclosures relating to the Xinjiang Uyghur Autonomous Region, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Uyghur Forced Labor Disclosure 
Act''.

SEC. 2. DISCLOSURE OF CERTAIN ACTIVITIES RELATING TO THE XINJIANG 
              UYGHUR AUTONOMOUS REGION.

    (a) In General.--Section 13 of the Securities Exchange Act of 1934 
(15 U.S.C. 78m) is amended by adding at the end the following:
    ``(s) Disclosure of Certain Activities Relating to the Xinjiang 
Uyghur Autonomous Region.--
            ``(1) In general.--Not later than the end of the 180-day 
        period beginning on the date of enactment of this subsection, 
        the Commission shall issue rules to require each issuer 
        required to file an annual report under this section or section 
        15(d) or a proxy statement under section 14 to disclose in each 
        such report or proxy statement whether, during the period 
        covered by the report or proxy statement--
                    ``(A) the issuer or any affiliate of the issuer, 
                directly or indirectly, engaged with an entity or the 
                affiliate of an entity to import--
                            ``(i) manufactured goods, including 
                        electronics, food products, textiles, shoes, 
                        auto parts, polysilicon, and teas, that are 
                        sourced from or through the XUAR;
                            ``(ii) manufactured goods containing 
                        materials that are sourced from or through the 
                        XUAR; or
                            ``(iii) goods manufactured by an entity 
                        engaged in labor transfers from the XUAR;
                    ``(B) with respect to any goods or materials 
                described under subparagraph (A), whether the goods or 
                material originated in forced labor camps; and
                    ``(C) with respect to each manufactured good or 
                material described under subparagraph (A)--
                            ``(i) the nature and extent of the 
                        commercial activity related to such good or 
                        material;
                            ``(ii) the gross revenue and net profits, 
                        if any, attributable to the good or material; 
                        and
                            ``(iii) whether the issuer or the affiliate 
                        of the issuer intends to continue with such 
                        importation.
            ``(2) Availability of information.--The Commission shall 
        make all information disclosed pursuant to this subsection 
        available to the public on the website of the Commission.
            ``(3) Reports.--
                    ``(A) Annual report to congress.--The Commission 
                shall--
                            ``(i) conduct an annual assessment of the 
                        compliance of issuers with the requirements of 
                        this subsection; and
                            ``(ii) issue a report to Congress 
                        containing the results of the assessment 
                        required under clause (i).
                    ``(B) GAO report.--The Comptroller General of the 
                United States shall periodically evaluate and report to 
                Congress on the effectiveness of the oversight by the 
                Commission of the disclosure requirements under this 
                subsection.
            ``(4) Definitions.--In this subsection:
                    ``(A) Forced labor camp.--The term `forced labor 
                camp' means--
                            ``(i) any entity engaged in the `mutual 
                        pairing assistance' program which subsidizes 
                        the establishment of manufacturing facilities 
                        in XUAR;
                            ``(ii) any entity using convict labor, 
                        forced labor, or indentured labor described 
                        under section 307 of the Tariff Act of 1930 (19 
                        U.S.C. 1307); and
                            ``(iii) any other entity that the 
                        Commission determines is appropriate.
                    ``(B) XUAR.--The term `XUAR' means the Xinjiang 
                Uyghur Autonomous Region.''.
    (b) Repeal.--The amendment made by this section shall be repealed 
on the earlier of--
            (1) the date that is 8 years after the date of the 
        enactment of this section; or
            (2) the date on which the President submits to Congress 
        (including the Office of the Law Revision Council) a 
        determination that the Government of the People's Republic of 
        China has ended mass internment, forced labor, and any other 
        gross violations of human rights experienced by Uyghurs, 
        Kazakhs, Kyrgyz, and members of other persecuted groups in the 
        Xinjiang Uyghur Autonomous Region.
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