Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Problem:SECTION 1. SHORT TITLE.

This Act may be cited as the ''United States-Israel Trade and
Commercial Enhancement Act''.

SEC. 2. FINDINGS.

Congress finds the following:
(1) Israel is America's dependable, democratic ally in the
Middle East--an area of paramount strategic importance to the
United States.
(2) The United States-Israel Free Trade Agreement formed
the modern foundation of the bilateral commercial relationship
between the two countries and was the first such agreement
signed by the United States with a foreign country.
(3) The United States-Israel Free Trade Agreement has been
instrumental in expanding commerce and the strategic
relationship between the United States and Israel.
(4) More than $45 billion in goods and services is traded
annually between the two countries in addition to roughly $10
billion in United States foreign direct investment in Israel.
(5) The United States continues to look for and find new
opportunities to enhance cooperation with Israel, including
through the enactment of the United States-Israel Enhanced
Security Cooperation Act of 2012 (Public Law 112-150) and the
United States-Israel Strategic Partnership Act of 2014 (Public
Law 113-296).
(6) It has been the policy of the United States Government
to combat all elements of the Arab League Boycott of Israel
by--
(A) public statements of Administration officials;
(B) enactment of relevant sections of the Export
Administration Act of 1979 (as continued in effect
pursuant to the International Emergency Economic Powers
Act), including sections to ensure foreign persons
comply with applicable reporting requirements relating
to the boycott;
(C) enactment of the 1976 Tax Reform Act (Public
Law 94-455) that denies certain tax benefits to
entities abiding by the boycott;
(D) ensuring through free trade agreements with
Bahrain and Oman that such countries no longer
participate in the boycott; and
(E) ensuring as a condition of membership in the
World Trade Organization that Saudi Arabia no longer
enforces the secondary or tertiary elements of the
boycott.

SEC. 3. STATEMENTS OF POLICY.

Congress--
(1) supports the strengthening of United States-Israel
economic cooperation and recognizes the tremendous strategic,
economic, and technological value of cooperation with Israel;
(2) recognizes the benefit of cooperation with Israel to
United States companies, including by improving American
competitiveness in global markets;
(3) recognizes the importance of trade and commercial
relations to the pursuit and sustainability of peace, and
supports efforts to bring together the United States, Israel,
the Palestinian territories, and others in enhanced commerce;
(4) opposes politically motivated actions that penalize or
otherwise limit commercial relations specifically with Israel
such as boycotts, divestment or sanctions;
(5) notes that the boycott, divestment, and sanctioning of
Israel by governments, governmental bodies, quasi-governmental
bodies, international organizations, and other such entities is
contrary to the General Agreement on Tariffs and Trade (GATT)
principle of non-discrimination;
(6) encourages the inclusion of politically motivated
actions that penalize or otherwise limit commercial relations
specifically with Israel such as boycotts, divestment from, or
sanctions against Israel as a topic of discussion at the U.S.-
Israel Joint Economic Development Group (JEDG) and other areas
to support the strengthening of the United States-Israel
commercial relationship and combat any commercial
discrimination against Israel;
(7) supports efforts to prevent investigations or
prosecutions by governments or international organizations of
United States persons on the sole basis of such persons doing
business with Israel, with Israeli entities, or in Israeli-
controlled territories; and
(8) supports American States examining a company's
promotion or compliance with unsanctioned boycotts, divestment
from, or sanctions against Israel as part of its consideration
in awarding grants and contracts and supports the divestment of
State assets from companies that support or promote actions to
boycott, divest from, or sanction Israel.

SEC. 4. PRINCIPAL TRADE NEGOTIATING OBJECTIVES OF THE UNITED STATES.

(a) Commercial Partnerships.--Among the principal trade negotiating
objectives of the United States for proposed trade agreements with
foreign countries regarding commercial partnerships are the following:
(1) To discourage actions by potential trading partners
that directly or indirectly prejudice or otherwise discourage
commercial activity solely between the United States and
Israel.
(2) To discourage politically motivated actions to boycott,
divest from, or sanction Israel and to seek the elimination of
politically motivated non-tariff barriers on Israeli goods,
services, or other commerce imposed on the State of Israel.
(3) To seek the elimination of state-sponsored unsanctioned
foreign boycotts against Israel or compliance with the Arab
League Boycott of Israel by prospective trading partners.
(b) Effective Date.--This section takes effect on the date of the
enactment of this Act and applies with respect to negotiations
commenced before, on, or after the date of the enactment of this Act.

SEC. 5. REPORT ON POLITICALLY MOTIVATED ACTS OF BOYCOTT, DIVESTMENT
FROM, AND SANCTIONS AGAINST ISRAEL.

(a) In General.--Not later than 180 days after the date of the
enactment of this Act, and annually thereafter, the President shall
submit to Congress a report on politically motivated acts of boycott,
divestment from, and sanctions against Israel.
(b) Matters To Be Included.--The report required by subsection (a)
shall include the following:
(1) A description of the establishment of barriers to
trade, including non-tariff barriers, investment, or commerce
by foreign countries or international organizations against
United States persons operating or doing business in Israel,
with Israeli entities, or in Israeli-controlled territories.
(2) A description of specific steps being taken by the
United States to encourage foreign countries and international
organizations to cease creating such barriers and to dismantle
measures already in place and an assessment of the
effectiveness of such steps.
(3) A description of specific steps being taken by the
United States to prevent investigations or prosecutions by
governments or international organizations of United States
persons on the sole basis of such persons doing business with
Israel, with Israeli entities, or in Israeli-controlled
territories.
(4) Decisions by foreign persons, including corporate
entities and state-affiliated financial institutions, that
limit or prohibit economic relations with Israel or persons
doing business in Israel or in Israeli controlled territories.

SEC. 6. ISRAEL TRADE AND COMMERCE BOYCOTT REPORTING.

Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m)
is amended by adding at the end the following:
''(s) Israel Trade and Commerce Boycott Reporting.--
''(1) In general.--Each foreign issuer required to file an
annual or quarterly report under subsection (a) shall disclose
in that report--
''(A) whether the issuer has discriminated against
doing business with Israel in the last calendar year
and in such cases an issuer shall provide a description
of the discrimination.
''(B) whether the issuer has been advised by a
foreign government or a non-member state of the United
Nations to discriminate against doing business with
Israel, entities owned or controlled by the government
of Israel, or entities operating in Israel or Israeli-
controlled territory; and
''(C) any instances where the issuer has learned
that a person, foreign government, or a non-member
state of the United Nations is boycotting the issuer,
divesting themselves of an ownership interest in the
issuer, or placing sanctions on the issuer because of
the issuer's relationship with Israel, entities owned
or controlled by the government of Israel, or entities
operating in Israel or Israeli-controlled territory.
''(2) Definitions.--For purposes of this subsection:
''(A) Foreign issuer.--The term 'foreign issuer'
means an issuer that is not incorporated in the United
States.
''(B) Non-member states of the united nations.--The
term 'non-member states of the United Nations' has the
meaning given such term by the United Nations.''.

SEC. 7. FOREIGN JUDGMENTS AGAINST UNITED STATES PERSONS.

No court in the United States may recognize or enforce any judgment
which is entered by a foreign court against a United States person
carrying out business operations in Israel or in any territory
controlled by Israel and on which is based a determination by the
foreign court that the location in Israel, or in any territory
controlled by Israel, of the facilities at which the business
operations are carried out is sufficient to constitute a violation of
law.

SEC. 8. DEFINITIONS.

In this Act:
(1) Boycott, divestment from, and sanctions against
israel.--The term ''boycott, divestment from, and sanctions
against Israel'' means actions by states, non-member states of
the United Nations, international organizations, or affiliated
agencies of international organizations that are politically
motivated and are intended to penalize or otherwise limit
commercial relations specifically with Israel or persons doing
business in Israel or in Israeli-controlled territories.
(2) Foreign person.--The term ''foreign person'' means--
(A) any natural person who is not lawfully admitted
for permanent residence (as defined in section
101(a)(20) of the Immigration and Nationality Act (8
U.S.C. 1101(a)(20)) or who is not a protected
individual (as defined in section 274B(a)(3) of such
Act (8 U.S.C. 1324b(a)(3)); and
(B) any foreign corporation, business association,
partnership, trust, society or any other entity or
group that is not incorporated or organized to do
business in the United States, as well as any
international organization, foreign government and any
agency or subdivision of foreign government, including
a diplomatic mission.
(3) Person.--
(A) In general.--The term ''person'' means--
(i) a natural person;
(ii) a corporation, business association,
partnership, society, trust, financial
institution, insurer, underwriter, guarantor,
and any other business organization, any other
nongovernmental entity, organization, or group,
and any governmental entity operating as a
business enterprise; and
(iii) any successor to any entity described
in clause (ii).
(B) Application to governmental entities.--The term
''person'' does not include a government or
governmental entity that is not operating as a business
enterprise.
(4) United states person.--The term ''United States
person'' means--
(A) a natural person who is a national of the
United States (as defined in section 101(a)(22) of the
Immigration and Nationality Act (8 U.S.C. 1101(a)(22));
and
(B) a corporation or other legal entity which is
organized under the laws of the United States, any
State or territory thereof, or the District of
Columbia, if natural persons described in subparagraph
(A) own, directly or indirectly, more than 50 percent
of the outstanding capital stock or other beneficial
interest in such legal entity.
Solution:
United States-Israel Trade and Commercial Enhancement Act This bill states that among the principal U.S. trade negotiating objectives for trade agreements with foreign countries regarding commercial partnerships are to: discourage actions by potential trading partners that discourage commercial activity solely between the United States and Israel; discourage politically motivated actions to boycott, divest from, or sanction Israel and to seek the elimination of politically motivated non-tariff barriers on Israeli commerce; and seek the elimination of state-sponsored unsanctioned foreign boycotts against Israel or compliance with the Arab League Boycott of Israel. The President is directed to report annually to Congress on politically motivated acts of boycott, divestment from, and sanctions against Israel. The Securities Exchange Act of 1934 is amended to require a foreign issuer traded on the U.S. stock market to disclose in its quarterly or annual report: whether the issuer has discriminated against doing business with Israel in the last calendar year; whether the issuer has been advised by a foreign government or a non-member state of the United Nations (U.N.) to discriminate against doing business with Israel, entities owned or controlled by Israel, or entities operating in Israel or Israeli-controlled territory; and any instances where the issuer has learned that a person, foreign government, or a non-member state of the U.N. is boycotting the issuer, divesting itself of an ownership interest in the issuer, or placing sanctions on the issuer because of the issuer's relationship with Israel. No U.S. court may recognize or enforce any judgment by a foreign court against a U.S. person carrying out business operations in Israel or in any territory controlled by Israel, and on which is based a determination by the foreign court that the location in Israel, or in any territory controlled by Israel, of the facilities at which the business operations are carried out is sufficient to constitute a violation of law.