Title: Transaction and Sourcing Knowledge Act
Policy area: Finance and Financial Sector

Summary:
Transaction and Sourcing Knowledge Act or the TASK Act
This bill requires the Securities and Exchange Commission to mandate the reporting of certain information by publicly traded companies. Specifically, companies must report on

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4095 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 4095

To require the Securities and Exchange Commission to require reporting 
of sourcing and due diligence activities of companies involving supply 
 chains of products that are imported into the United States that are 
   directly linked to products utilizing forced labor from Xinjiang, 
                     China, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 27, 2022

Mr. Scott of Florida (for himself, Mr. Rubio, and Mr. Braun) introduced 
the following bill; which was read twice and referred to the Committee 
                 on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the Securities and Exchange Commission to require reporting 
of sourcing and due diligence activities of companies involving supply 
 chains of products that are imported into the United States that are 
   directly linked to products utilizing forced labor from Xinjiang, 
                     China, 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 ``Transaction and Sourcing Knowledge 
Act'' or the ``TASK Act''.

SEC. 2. SEC REPORTING.

    The Securities and Exchange Commission, as part of its evaluation 
of potential guidance on reporting on environmental, social, and 
governance matters by publicly traded companies, shall require 
reporting of--
            (1) sourcing and due diligence activities of such companies 
        involving supply chains of products that are imported into the 
        United States that are directly linked to products utilizing 
        forced labor from Xinjiang, China;
            (2) transactions with companies that have been--
                    (A) placed on the Entity List by the Department of 
                Commerce; or
                    (B) designated by the Department of the Treasury as 
                Chinese Military-Industrial Complex Companies; and
            (3) with respect to publicly traded United States companies 
        with facilities in China, on an annual basis--
                    (A) whether there is a Chinese Communist Party 
                committee in the operations of the company; and
                    (B) a summary of the actions and corporate 
                decisions in which any committee described in 
                subparagraph (A) may have participated.
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