Economic Espionage Prevention Act

Bill: 118-hr-8361
Sponsor: Rep. McCormick, Richard [R-GA-6]
Introduced: 2024-05-10 in the House
Policy area: International Affairs
Subjects: Asia
China
Civil actions and liability
Criminal procedure and sentencing
Europe
Intelligence activities, surveillance, classified information
Presidents and presidential powers, Vice Presidents
Russia
Sanctions
Trade restrictions
Trade secrets and economic espionage
Visas and passports

Summary:
action_date: 2024-05-10
text: 

Economic Espionage Prevention Act

This bill authorizes the President to impose visa- and property-blocking sanctions on foreign adversary entities that knowingly engage in (1) economic and industrial espionage with respect to trade secrets and proprietary information owned by U.S. persons, (2) the provision of material support or services to a foreign adversaries' national security entities, or (3) the violation of U.S. export control laws. The bill cites regulations that define China, Russia, Iran, North Korea, Cuba, and the Maduro regime of Venezuela as foreign adversaries.
 
The bill also limits certain exemptions from the President's authority under the International Emergency Economic Powers Act (IEEPA). IEEPA provides the President broad authority to regulate a variety of economic transactions following a declaration of national emergency, but exempts from this authority activities such as (1) the import or export of information or informational materials; (2) transactions ordinarily incident to international travel (such as the importation of personal baggage); and (3) personal communications, such as postal or telephonic communications, that do not transfer anything of value. Under the bill, the first two of these exemptions are not applicable if the President determines such imports and exports would seriously impair the ability to deal with a declared national emergency. Additionally, the bill specifies that the first and third exemptions listed above do not apply to bulk sensitive personal data or source code used in a connected software application.


Legislative actions:
action_date: 2024-09-09
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2024-09-09
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5071-5072)
action_date: 2024-09-09
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5071-5072)
action_date: 2024-09-09
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 8361.
action_date: 2024-09-09
text: Considered under suspension of the rules. (consideration: CR H5071-5073)
action_date: 2024-09-09
text: Mr. Barr moved to suspend the rules and pass the bill, as amended.
action_date: 2024-05-16
text: Ordered to be Reported by Unanimous Consent.
action_date: 2024-05-16
text: Committee Consideration and Mark-up Session Held
action_date: 2024-05-10
text: Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, 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: 2024-05-10
text: Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, 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: 2024-05-10
text: Introduced in House
action_date: 2024-05-10
text: Introduced in House