STAND with Taiwan Act of 2022

Bill: 117-hr-6484
Sponsor: Rep. Gallagher, Mike [R-WI-8]
Introduced: 2022-01-25 in the House
Policy area: International Affairs
Subjects: Asia
Bank accounts, deposits, capital
China
Foreign and international banking
Foreign and international corporations
Foreign property
International organizations and cooperation
Legislative rules and procedure
Manufacturing
Military operations and strategy
Pacific Ocean
Political parties and affiliation
Presidents and presidential powers, Vice Presidents
Sanctions
Securities
Sovereignty, recognition, national governance and status
Taiwan
Trade restrictions
U.S. and foreign investments
Visas and passports
War and emergency powers

Summary:
action_date: 2022-01-25
text: 

Sanctions Targeting Aggressors of Neighboring Democracies with Taiwan Act of 2022 or the STAND with Taiwan Act of 2022

 
This bill requires the imposition of sanctions in the event of a military invasion of Taiwan by China and addresses related issues.
 
If the President determines that China or any of its proxies has initiated a military invasion of Taiwan, or if a joint resolution making such a determination is enacted, the bill requires 
 
 
the President to impose visa- and property-blocking sanctions on any foreign person who is a member of the Chinese Communist Party (CCP); 
 
the Department of the Treasury to impose property-blocking sanctions on specified foreign financial institutions, including the People's Bank of China and the China Construction Bank; 
 
 
Treasury to impose property-blocking sanctions on any entity affiliated with the CCP; 
 
the Securities and Exchange Commission (SEC) to prohibit the trading of the securities of an issuer affiliated with the CCP on a national securities exchange; 
 
Treasury to prohibit U.S. financial institutions from making certain investments, such as investments in an entity owned or controlled by the CCP or China's military; and 
 
the prohibition of the importation of certain goods, including goods produced wholly or in part in China or by certain entities owned or financed by the CCP. 
 
 
Furthermore, a depository institution or an SEC-registered securities broker or dealer may not process funds transfers (1) to or from China, or (2) for the benefit of CCP members. 
 
The bill provides various waivers and exceptions to the required sanctions and prohibitions, such as an exception for certain U.S. intelligence activities.


Legislative actions:
action_date: 2022-11-01
text: Referred to the Subcommittee on Immigration and Citizenship.
action_date: 2022-01-25
text: Referred to the Subcommittee on Trade.
action_date: 2022-01-25
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2022-01-25
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2022-01-25
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2022-01-25
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2022-01-25
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2022-01-25
text: Introduced in House
action_date: 2022-01-25
text: Introduced in House