S. 1650: TSP Act of 2023

This bill prohibits the Thrift Savings Fund from investing in any security that has certain connections to a country of concern. (A country of concern is a country listed in the Annual Threat Assessment that the Office of the Director of National Intelligence provides to Congress. In the 2023 assessment, these countries included China, Russia, Iran, and North Korea.)

A covered security is one that is (1) listed on an exchange in a country of concern; (2) issued by an entity incorporated in or subject to the jurisdiction of such country; or (3) issued by an entity that generates more than 50% of its revenue in a country of concern, consolidates the revenue under generally accepted accounting principles in the United States, and incorporates the revenue into the financial statement of a publicly listed company.

Written by the Congressional Research Service, Library of Congress.