Hong Kong Autonomy Act

Bill: 116-s-3798
Sponsor: Sen. Toomey, Patrick [R-PA]
Introduced: 2020-05-21 in the Senate
Policy area: International Affairs
Subjects: Asia
Banking and financial institutions regulation
China
Congressional oversight
Corporate finance and management
Foreign and international banking
Foreign loans and debt
Foreign property
Hong Kong
Human rights
Intelligence activities, surveillance, classified information
International monetary system and foreign exchange
Legislative rules and procedure
News media and reporting
Presidents and presidential powers, Vice Presidents
Protest and dissent
Rule of law and government transparency
Sanctions
Sovereignty, recognition, national governance and status
Trade restrictions
U.S. and foreign investments
Visas and passports
War and emergency powers

Summary:
action_date: 2020-05-21
text: 

Hong Kong Autonomy Act

 
This bill imposes sanctions on foreign individuals and entities that materially contribute to China's failure to preserve Hong Kong's autonomy. 
 
Hong Kong is part of China but has a largely separate legal and economic system with protections for civil rights such as freedom of speech. This arrangement is enshrined in (1) the Joint Declaration, a 1984 treaty pertaining to the United Kingdom's transfer of Hong Kong's sovereignty to China; and (2) the Basic Law, Hong Kong's constitutional document.
 
The Department of State shall report annually to Congress information about (1) foreign individuals and entities that materially contributed to China's failure to comply with the Joint Declaration or the Basic Law; and (2) foreign financial institutions that knowingly conducted a significant transaction with such identified individuals and entities. An individual, entity, or financial institution may be excluded from this report for various reasons, such as to protect an intelligence source. 
 
The President may impose property-blocking sanctions on an individual or entity named in a report, and visa-blocking sanctions on a named individual. Such sanctions are mandatory if an individual or entity is named in two reports. The President shall impose various sanctions on a financial institution named in a report, such as prohibiting the institution from receiving loans from a U.S. financial institution. 
 
The President may waive or terminate the imposition of sanctions under this bill. Congress may override such a waiver or termination by passing a joint resolution of disapproval. 

action_date: 2020-06-25
text: 

Hong Kong Autonomy Act

 
This bill imposes sanctions on foreign individuals and entities that materially contribute to China's failure to preserve Hong Kong's autonomy. 
 
Hong Kong is part of China but has a largely separate legal and economic system with protections for civil rights such as freedom of speech. This arrangement is enshrined in (1) the Joint Declaration, a 1984 treaty pertaining to the United Kingdom's transfer of Hong Kong's sovereignty to China; and (2) the Basic Law, Hong Kong's constitutional document.
 
The Department of State shall report annually to Congress information about (1) foreign individuals and entities that materially contributed to China's failure to comply with the Joint Declaration or the Basic Law; and (2) foreign financial institutions that knowingly conducted a significant transaction with such identified individuals and entities. An individual, entity, or financial institution may be excluded from this report for various reasons, such as to protect an intelligence source.
 
The President shall impose property-blocking sanctions on an individual or entity named in a report, and visa-blocking sanctions on a named individual. The President shall impose various sanctions on a financial institution named in a report, such as prohibiting the institution from receiving loans from a U.S. financial institution. 
 
The President may waive or terminate the imposition of sanctions under this bill. Congress may override such a waiver or termination by passing a joint resolution of disapproval. 


Legislative actions:
action_date: 2020-06-29
text: Held at the desk.
action_date: 2020-06-29
text: Received in the House.
action_date: 2020-06-29
text: Message on Senate action sent to the House.
action_date: 2020-06-25
text: Passed Senate with an amendment by Voice Vote. (text of amendment in the nature of a substitute: CR S3285-3289)
action_date: 2020-06-25
text: Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text of amendment in the nature of a substitute: CR S3285-3289)
action_date: 2020-06-25
text: Measure laid before Senate by unanimous consent. (consideration: CR S3285-3289)
action_date: 2020-06-25
text: Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
action_date: 2020-06-25
text: Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
action_date: 2020-06-04
text: Committee on Banking, Housing, and Urban Affairs. Hearings held.
action_date: 2020-05-21
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2020-05-21
text: Introduced in Senate