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118th Congress Finance and Financial Sector

H.R. 554: Taiwan Conflict Deterrence Act of 2023

Passed HouseSep 9, 2024

  1. Introduced (completed)Jan 26, 2023
  2. Passed House (completed)Sep 9, 2024
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Reported to House, Dec 1, 2023

This bill, in the event of a threat to U.S. interests by China, (1) requires additional reporting on the domestic and foreign financial activity of specified Chinese officials, and (2) prohibits certain financial transactions with specified Chinese officials.

Upon a determination by the President that such a threat exists, the bill requires the Department of the Treasury to (1) report to Congress on funds held by certain members of the Chinese Communist Party, including the total amount of funds, a description of the funds, and a list of related financial institutions; and (2) brief Congress on how these funds were acquired and any illicit or corrupt means employed to acquire or use the funds.

After such a report is made, Treasury must prohibit significant transactions between U.S. financial institutions and these individuals (and their immediate family, if appropriate). The bill provides exceptions for intelligence, law enforcement, and national security activities. The President may waive the prohibition under certain circumstances.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

8

Bipartisan support.

Who scored on this bill

88 points earned
  1. 1J. Hill R-AR SponsorDrew cross-party cosponsors, introduced, reported, passed House4 events+56
  2. 2Mónica De La Cruz R-TXCosponsored; cosponsored bill passed2 events+4
  3. 2Young Kim R-CACosponsored; cosponsored bill passed2 events+4
  4. 2Michael Lawler R-NYCosponsored; cosponsored bill passed2 events+4
  5. 2Susie Lee D-NVCosponsored; cosponsored bill passed2 events+4
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by J. Hill

History

  1. Sep 9, 2024Passed the House by voice vote.
  2. Jan 26, 2023Introduced in the House by J. Hill.
Show the full action history (13 actions)
  1. Sep 10, 2024Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Sep 9, 2024Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
  3. Sep 9, 2024Considered under suspension of the rules. (consideration: CR H5042-5046)
  4. Sep 9, 2024DEBATE - The House proceeded with forty minutes of debate on H.R. 554.
  5. Sep 9, 2024Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
  6. Sep 9, 2024On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5042-5043)
  7. Sep 9, 2024Motion to reconsider laid on the table Agreed to without objection.
  8. Dec 1, 2023Reported (Amended) by the Committee on Financial Services. H. Rept. 118-292.
  9. Dec 1, 2023Placed on the Union Calendar, Calendar No. 236.
  10. Feb 28, 2023Committee Consideration and Mark-up Session Held.
  11. Feb 28, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 0.
  12. Jan 26, 2023Introduced in House
  13. Jan 26, 2023Referred to the House Committee on Financial Services.