Title: Foreign Merger Subsidy Disclosure Act of 2021
Policy area: Commerce

Summary:
Foreign Merger Subsidy Disclosure Act of 2021
This bill requires entities to disclose in their premerger notification filings to federal antitrust regulators a detailed accounting of any economic support they received from a foreign state.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5639 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 5639

To require disclosure of foreign government subsidies in the premerger 
                         notification process.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 20, 2021

 Mr. Fitzgerald (for himself, Mr. Stanton, Ms. Speier, Mr. Loudermilk, 
Mr. Tiffany, Mr. Crawford, Ms. Sherrill, Mr. Gohmert, Mr. Stewart, Mr. 
Bishop of North Carolina, and Mr. Owens) introduced the following bill; 
          which was referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL


 
To require disclosure of foreign government subsidies in the premerger 
                         notification process.

    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 ``Foreign Merger Subsidy Disclosure 
Act of 2021''.

SEC. 2. MERGERS INVOLVING FOREIGN GOVERNMENT SUBSIDIES.

    (a) Accounting for Foreign Government Subsidies.--A person required 
to file a notification required by section 7A of the Clayton Act (15 
U.S.C. 18a) that received a subsidy from a foreign state shall include 
in such notification a detailed accounting of each such subsidy.
    (b) Authority of Antitrust Regulators.--The Federal Trade 
Commission, with the concurrence of the Assistant Attorney General in 
charge of the Antitrust Division of the Department of Justice and by 
rule in accordance with section 553 of title 5, consistent with 
purposes of this section shall require that the notification required 
under subsection (a) be in such form and contain such documentary 
material and information relevant to a proposed acquisition as is 
necessary and appropriate to enable the Federal Trade Commission and 
the Assistant Attorney General in charge of the Antitrust Division of 
the Department of Justice to determine whether such acquisition may, if 
consummated, violate the antitrust laws.

SEC. 3. DEFINITIONS.

    For the purposes of this Act:
     (a) Foreign State.--The term ``foreign state'' shall have the 
meaning given it in section 1603(a) of title 28, United States Code.
    (b) Subsidy.--The term ``subsidy'' includes a direct subsidy, a 
grant, a loan (including a below-market loan), a loan guarantee, a tax 
concession, a preferential governmental procurement policy, or other 
form of economic support including ownership or control by a foreign 
state.

SEC. 4. EFFECTIVE DATE.

    This Act shall take effect 90 days after the date of the enactment 
of this Act.
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