118th Congress Foreign Trade and International Finance
H.R. 4927: ACES Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
Anti-CCP Espionage via Social Media Act of 2023 or the ACES Act of 2023
This bill requires certain actions related to ByteDance Ltd., the Chinese parent company of TikTok (a video-sharing mobile application).
Specifically, the bill grants Executive Order 13942 the force and effect of law. That order prohibits certain transactions by any person subject to the jurisdiction of the United States with ByteDance. The bill provides statutory authority for that prohibition and specifies exceptions. Further, the bill establishes enforcement procedures and penalties for related violations.
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The bill requires ByteDance, within 90 days of this bill's enactment, to divest itself of (1) any assets or property used to enable or support ByteDance's operation of the TikTok application in the United States, and (2) any data obtained or derived from TikTok application or Musical.ly application users in the United States. The bill outlines further requirements and procedures for such divestment.
The Committee on Foreign Investment in the United States (CFIUS) must review proposed sales or transfers by ByteDance to a third party. CFIUS may implement measures as necessary to verify compliance with the required divestment.
CFIUS must review and issue a report to the President on the relationship of each covered U.S. business with ByteDance to determine the effects of such relationship on U.S. national security. The President may take actions to suspend or prohibit the relationship.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Brian Babin R-TXOriginal
- Jack Bergman R-MIOriginal
- James Baird R-INOriginal
- Patrick Fallon R-TXOriginal
- Clay Higgins R-LAOriginal
- Mary Miller R-ILOriginal
- Ralph Norman R-SCOriginal
- George Santos R-NY
- Michael Guest R-MS
- Nicholas Langworthy R-NY
- Nancy Mace R-SC
- Vern Buchanan R-FL
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Other bills by Lisa McClain
History
- Introduced in the House by Lisa McClain.
Show the full action history (3 actions)
- Referred to the Subcommittee on Innovation, Data, and Commerce.
- Introduced in House
- Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, 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.