Hold CCP Accountable Act of 2022
This bill imposes certain restrictions related to China.
For example, the bill (1) generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to U.S. national security or foreign policy interests; (2) withdraws normal trade relations treatment from China and expands the bases of ineligibility for this treatment to include specified human rights violations by China; and (3) requires the Department of the Treasury to instruct the U.S. executive directors at certain multilateral development banks, such as the Asian Development Bank, to oppose providing a loan, financial assistance, or technical assistance to China.
To hold the Chinese Communist Party accountable for the COVID-19 
       pandemic that has killed approximately 981,000 Americans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Hold CCP 
Accountable Act of 2022''.
    (b) Table of Contents.--The table of contents is as follows:

Sec. 1. Short title; table of contents.
                     TITLE I--NO SOVEREIGN IMMUNITY

Sec. 101. Lists of foreign countries based on compliance with 
                            international reporting and monitoring of 
                            outbreaks of novel viruses and diseases.
Sec. 102. Presidential actions with respect to foreign countries on the 
                            Tier 2 list.
Sec. 103. Sovereign immunity waiver.
Sec. 104. Imposition of sanctions with respect to government officials 
                            of foreign countries on the Tier 2 list.
Sec. 105. G-20 investigation of international response to COVID-19.
Sec. 106. International response to wet markets globally.
Sec. 107. Public health emergency of international concern defined.
             TITLE II--REVOKING CCP'S ABILITY TO GET VISAS

Sec. 201. Disclosure on certain visa applications.
       TITLE III--TIGHTEN UP REGULATIONS ON CONFUCIUS INSTITUTES

Sec. 301. Restrictions on Confucius Institutes.
              TITLE IV--DELISTING CHINA FROM STOCK MARKETS

Sec. 401. Prohibitions relating to certain Communist Chinese military 
                            companies.
Sec. 402. Modification of requirements for list of Communist Chinese 
                            military companies.
Sec. 403. Analysis of financial ambitions of the Government of the 
                            People's Republic of China.
          TITLE V--REVOKING CHINA'S MOST FAVORED NATION STATUS

Sec. 501. Withdrawal of normal trade relations treatment from the 
                            People's Republic of China.
Sec. 502. Expansion of bases of ineligibility of People's Republic of 
                            China for normal trade relations.
                TITLE VI--REMOVAL OF CHINA FROM THE WTO

Sec. 601. Removal of China from the WTO.
           TITLE VII--END LENDING TO THE CCP FROM WORLD BANK

Sec. 701. Opposition to provision of assistance to People's Republic of 
                            China by multilateral development banks.

                     TITLE I--NO SOVEREIGN IMMUNITY

SEC. 101. LISTS OF FOREIGN COUNTRIES BASED ON COMPLIANCE WITH 
              INTERNATIONAL REPORTING AND MONITORING OF OUTBREAKS OF 
              NOVEL VIRUSES AND DISEASES.

    (a) Lists of Foreign Countries.--
            (1) Tier 1 list.--
                    (A) In general.--Not later than 180 days after the 
                date of the enactment of this Act, the Secretary of 
                State shall establish a list of foreign countries that 
                the Secretary determines meet the requirements 
                described in subsection (b).
                    (B) Reference.--The list of foreign countries 
                established under this paragraph shall be referred to 
                as the ``Tier 1 list''.
            (2) Tier 2 list.--
                    (A) In general.--Not later than 180 days after the 
                date of the enactment of this Act, the Secretary of 
                State shall establish a list of foreign countries that 
                the Secretary determines do not meet the requirements 
                described in subsection (b) but are capable of meeting 
                such requirements.
                    (B) Review.--The Secretary of State shall conduct a 
                review on an ongoing basis of each country on the list 
                established under this paragraph to ensure that the 
                country is taking appropriate steps to meet the 
                requirements described in subsection (b).
                    (C) Reference.--The list of foreign countries 
                established under this paragraph shall be referred to 
                as the ``Tier 2 list''.
            (3) Tier 3 list.--
                    (A) In general.--Not later than 180 days after the 
                date of the enactment of this Act, the Secretary of 
                State shall establish a list of foreign countries that 
                the Secretary determines do not meet the requirements 
                described in subsection (b) because such countries are 
                not capable, based on financial, security, or 
                government infrastructure reasons, of meeting such 
                requirements.
                    (B) Reference.--The list of foreign countries 
                established under this paragraph shall be referred to 
                as the ``Tier 3 list''.
            (4) Updates.--The Secretary of State shall submit to the 
        appropriate congressional committees an updated Tier 1 list 
        under paragraph (1), an updated Tier 2 list under paragraph 
        (2), and an updated Tier 3 list under paragraph (3)--
                    (A) not later than one year after the date of the 
                enactment of this Act and annually thereafter; and
                    (B) as new information becomes available.
    (b) International Reporting and Monitoring Requirements 
Described.--The requirements described in this subsection are the 
following:
            (1) The foreign country has established procedures and 
        standards to comply with established international ``sentinel 
        surveillance'' systems to collect data, identify trends, 
        identify outbreaks, and provide monitoring with respect to the 
        burden of disease in a community.
            (2) The foreign country has established procedures and 
        standards to ensure that novel viruses and diseases are 
        reported such international ``sentinel surveillance'' systems 
        not later than 3 days after identification.
    (c) Rule of Construction.--Nothing in this section may be construed 
to apply with respect to the territory of a foreign country with 
respect to which the internationally recognized government of the 
country does not control due to armed conflict.
    (d) Inclusion in Annual United States Government Global Health 
Security Strategy.--The President shall ensure that the requirements of 
this section are appropriately reflected in the annual United States 
Government Global Health Security Strategy.

SEC. 102. PRESIDENTIAL ACTIONS WITH RESPECT TO FOREIGN COUNTRIES ON THE 
              TIER 2 LIST.

    (a) In General.--The President, in consultation with the Secretary 
of State, shall take one or more of the actions described in subsection 
(b) (or commensurate action in substitution thereto) with respect to a 
foreign country that is on the Tier 2 list established under section 
101(a).
    (b) Description of Presidential Actions.--The Presidential actions 
referred to in this subsection are the following:
            (1) A private demarche.
            (2) An official public demarche.
            (3) A public condemnation.
            (4) A public condemnation within one or more multilateral 
        fora.
            (5) The delay or cancellation of one or more scientific 
        exchanges.
            (6) The delay or cancellation of one or more cultural 
        exchanges.
            (7) The denial of one or more working, official, or state 
        visits.
            (8) The delay or cancellation of one or more working, 
        official, or state visits.
            (9) The withdrawal, limitation, or suspension of United 
        States development assistance in accordance with section 116 of 
        the Foreign Assistance Act of 1961.
            (10) The withdrawal, limitation, or suspension of United 
        States security assistance in accordance with section 502B of 
        the Foreign Assistance Act of 1961.
            (11) Consistent with section 701 of the International 
        Financial Institutions Act of 1977, directing the United States 
        executive directors of international financial institutions to 
        oppose and vote against loans primarily benefiting the specific 
        foreign government, agency, instrumentality.
            (12) Ordering the heads of the appropriate United States 
        agencies not to issue any (or a specified number of) specific 
        licenses, and not to grant any other specific authority (or a 
        specified number of authorities), to export any goods or 
        technology to the specific foreign government, agency, 
        instrumentality under--
                    (A) the Export Control Reform Act of 2018;
                    (B) the Arms Export Control Act;
                    (C) the Atomic Energy Act of 1954; or
                    (D) any other statute that requires the prior 
                review and approval of the United States Government as 
                a condition for the export or reexport of goods or 
                services.
            (13) Prohibiting any United States financial institution 
        from making loans or providing credits totaling more than 
        $10,000,000 in any 12-month period to the specific foreign 
        government, agency, instrumentality.
            (14) Prohibiting the United States Government from 
        procuring, or entering into any contract for the procurement 
        of, any goods or services from the foreign government, 
        entities.
    (c) Waiver.--The President may waive the application of subsection 
(a) with respect to a foreign country if the President determines it is 
important to the national interests of the United States to do so.

SEC. 103. SOVEREIGN IMMUNITY WAIVER.

    (a) In General.--Chapter 97 of title 28, United States Code, is 
amended by inserting after section 1605B the following:
``Sec. 1605C. Responsibility of foreign states for pandemic outbreaks
    ``(a) Responsibility of Foreign States.--A foreign state shall not 
be immune from the jurisdiction of the courts of the United States in 
any case in which damages are sought against a foreign state for 
physical injury to person or property or death occurring in the United 
States and caused by a failure to abide the requirements laid out in 
paragraphs (1) and (2) of section 2(b) of the Never Again International 
Outbreak Prevention Act or are determined to have intentionally misled 
the international community or the WHO on the outbreak or spread of a 
health concern that leads to a pandemic.
    ``(b) Rule of Construction.--A foreign state shall not be subject 
to the jurisdiction of the courts of the United States under subsection 
(a) on the basis of an omission or a tortious act or acts that 
constitute mere negligence.''.
    (b) Clerical Amendment.--
            (1) The table of sections for chapter 97 of title 28, 
        United States Code, is amended by inserting after the item 
        relating to section 1605A the following:

``1605C. Responsibility of foreign states for pandemic outbreaks.''.
            (2) Subsection 1605(g)(1)(A) of title 28, United States 
        Code, is amended by striking ``but for section 1605A or section 
        1605B'' and inserting ``but for section 1605A, 1605B, or 
        1605C''.
    (c) Stay of Actions Pending State Negotiations.--
            (1) Exclusive jurisdiction.--The courts of the United 
        States shall have exclusive jurisdiction in any action in which 
        a foreign state is subject to the jurisdiction of a court of 
        the United States under section 1605C of title 28, United 
        States Code.
            (2) Intervention.--The Attorney General may intervene in 
        any action in which a foreign state is subject to the 
        jurisdiction of a court of the United States under section 
        1605C of title 28, United States Code, for the purpose of 
        seeking a stay of the civil action, in whole or in part.
            (3) Stay.--
                    (A) In general.--A court of the United States may 
                stay a proceeding against a foreign state if the 
                Secretary of State certifies that the United States is 
                engaged in good faith discussions with the foreign 
                state defendant concerning the resolution of the claims 
                against the foreign state, or any other parties as to 
                whom a stay of claims is sought.
                    (B) Duration.--
                            (i) In general.--A stay under this 
                        subsection may be granted for not more than 180 
                        days.
                            (ii) Extension.--
                                    (I) In general.--The Attorney 
                                General may petition the court for an 
                                extension of the stay for additional 
                                180-day periods.
                                    (II) Recertification.--A court 
                                shall grant an extension under 
                                subclause (I) if the Secretary of State 
                                recertifies that the United States 
                                remains engaged in good faith 
                                discussions with the foreign state 
                                defendant concerning the resolution of 
                                the claims against the foreign state, 
                                or any other parties as to whom a stay 
                                of claims is sought.

SEC. 104. IMPOSITION OF SANCTIONS WITH RESPECT TO GOVERNMENT OFFICIALS 
              OF FOREIGN COUNTRIES ON THE TIER 2 LIST.

    (a) In General.--The President may impose the sanctions described 
in subsection (b) with respect to any foreign person the President 
determines, based on credible evidence--
            (1) is a government official of a foreign country on the 
        Tier 2 list established under section 101(a), or a senior 
        associate of such an official, that is responsible for, or 
        complicit in, ordering, controlling, or otherwise directing, or 
        financially benefits from, acts intended to deliberately 
        conceal or distort information about a public health emergency 
        of international concern, including acts intended to 
        deliberately withhold information from or obstruct the 
        activities of the World Health Organization with respect to a 
        public health emergency of international concern; or
            (2) has materially assisted, sponsored, or provided 
        financial, material, or technological support for, or goods or 
        services in support of, an act described in paragraph (1).
    (b) Sanctions Described.--The sanctions to be imposed with respect 
to a foreign person under subsection (a) are the following:
            (1) Inadmissibility of certain individuals.--
                    (A) Ineligibility for visas, admission, or 
                parole.--A foreign person who meets any of the criteria 
                described subsection (a) is--
                            (i) inadmissible to the United States;
                            (ii) ineligible to receive a visa or other 
                        documentation to enter the United States; and
                            (iii) otherwise ineligible to be admitted 
                        or paroled into the United States or to receive 
                        any other benefit under the Immigration and 
                        Nationality Act (8 U.S.C. 1101 et seq.).
                    (B) Current visas revoked.--A foreign person 
                subject to subsection (a) is subject to the following:
                            (i) Revocation of any visa or other entry 
                        documentation regardless of when the visa or 
                        other entry documentation is or was issued.
                            (ii) A revocation under clause (i) shall--
                                    (I) take effect immediately; and
                                    (II) automatically cancel any other 
                                valid visa or entry documentation that 
                                is in the foreign person's possession.
            (2) Blocking of property.--The President shall exercise all 
        of the powers granted to the President by the International 
        Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (except 
        that the requirements of section 202 of such Act (50 U.S.C. 
        1701) shall not apply) to the extent necessary to block and 
        prohibit all transactions in property and interests in property 
        of the person if such property and interests in property are in 
        the United States, come within the United States, or are or 
        come within the possession or control of a United States 
        person.
    (c) Consideration of Certain Information in Imposing Sanctions.--In 
determining whether to impose sanctions under subsection (a), the 
President shall consider--
            (1) information provided jointly by the chairperson and 
        ranking member of each of the appropriate congressional 
        committees; and
            (2) credible information obtained by other countries and 
        nongovernmental organizations that monitor violations of human 
        rights and global health issues, including issues related to 
        infectious disease.
    (d) Requests by Appropriate Congressional Committees.--
            (1) In general.--Not later than 120 days after receiving a 
        request that meets the requirements of paragraph (2) with 
        respect to whether a foreign person is described in subsection 
        (a), the President shall--
                    (A) determine if that person is so described; and
                    (B) submit a classified or unclassified report to 
                the chairperson and ranking member of the committee or 
                committees that submitted the request with respect to 
                that determination that includes--
                            (i) a statement of whether or not the 
                        President imposed or intends to impose 
                        sanctions with respect to the person; and
                            (ii) if the President imposed or intends to 
                        impose sanctions, a description of those 
                        sanctions.
            (2) Requirements.--A request under paragraph (1) with 
        respect to whether a foreign person is described in subsection 
        (a) shall be submitted to the President in writing jointly by 
        the chairperson and ranking member of one of the appropriate 
        congressional committees.
    (e) Exception To Comply With United Nations Headquarters Agreement 
and Law Enforcement Objectives.--Sanctions under subsection (b)(1) 
shall not apply to an individual if admitting the individual into the 
United States--
            (1) would further important law enforcement objectives; or
            (2) is necessary to permit the United States to comply with 
        the Agreement regarding the Headquarters of the United Nations, 
        signed at Lake Success June 26, 1947, and entered into force 
        November 21, 1947, between the United Nations and the United 
        States, or other applicable international obligations of the 
        United States.
    (f) Enforcement of Blocking of Property.--A person that violates, 
attempts to violate, conspires to violate, or causes a violation of 
subsection (b)(2) or any regulation, license, or order issued to carry 
out that subsection shall be subject to the penalties set forth in 
subsections (b) and (c) of section 206 of the International Emergency 
Economic Powers Act (50 U.S.C. 1705) to the same extent as a person 
that commits an unlawful act described in subsection (a) of that 
section.
    (g) Reports Required.--Not later than 120 days after the date of 
the enactment of this Act, and annually thereafter, the President shall 
submit to the appropriate congressional committees a report that 
includes--
            (1) a list of each foreign person with respect to which the 
        President imposed sanctions under subsection (b) during the 
        year preceding the submission of the report;
            (2) a description of the type of sanctions imposed with 
        respect to each such person;
            (3) the number of foreign persons with respect to which the 
        President--
                    (A) imposed sanctions under subsection (b) during 
                that year; or
                    (B) terminated sanctions under subsection (h) 
                during that year;
            (4) the dates on which such sanctions were imposed or 
        terminated, as the case may be;
            (5) the reasons for imposing or terminating such sanctions; 
        and
            (6) a description of the efforts of the President to 
        encourage the governments of other countries to impose 
        sanctions that are similar to the sanctions authorized by this 
        section.
    (h) Termination of Sanctions.--The President may terminate the 
application of sanctions under this section with respect to a person if 
the President determines and reports to the appropriate congressional 
committees not later than 15 days before the termination of the 
sanctions that--
            (1) credible information exists that the person did not 
        engage in the activity for which sanctions were imposed;
            (2) the person has been prosecuted appropriately for the 
        activity for which sanctions were imposed;
            (3) the foreign country of the person has been upgraded 
        from the Tier 2 list to the Tier 1 list established under 
        section 101(a); and
            (4) the termination of the sanctions is in the national 
        security interests of the United States.
    (i) Regulatory Authority.--The President shall issue such 
regulations, licenses, and orders as are necessary to carry out this 
section.
    (j) Exception Relating to Importation of Goods.--
            (1) In general.--The authorities and requirements to impose 
        sanctions under this section shall not include the authority to 
        impose sanctions on the importation of goods.
            (2) Good defined.--In this subsection, the term ``good'' 
        means any article, natural or manmade substance, material, 
        supply, or manufactured product, including inspection and test 
        equipment, and excluding technical data.
    (k) Definitions.--In this section:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Banking, Housing, and Urban 
                Affairs and the Committee on Foreign Relations of the 
                Senate; and
                    (B) the Committee on Financial Services and the 
                Committee on Foreign Affairs of the House of 
                Representatives.
            (2) Foreign person.--The term ``foreign person'' means a 
        person that is not a United States person.
            (3) Person.--The term ``person'' means an individual or 
        entity.
            (4) United states person.--The term ``United States 
        person'' means--
                    (A) an individual who is a United States citizen or 
                an alien lawfully admitted for permanent residence to 
                the United States;
                    (B) an entity organized under the laws of the 
                United States or any jurisdiction within the United 
                States, including a foreign branch of such an entity; 
                or
                    (C) any person in the United States.

SEC. 105. G-20 INVESTIGATION OF INTERNATIONAL RESPONSE TO COVID-19.

    (a) In General.--The President shall seek to work with the heads of 
other Group of Twenty (commonly referred to as the ``G-20'') countries 
and international organizations to--
            (1) investigate and prepare a report on the international 
        response to the coronavirus disease 2019 (commonly known as 
        ``COVID-19''); and
            (2) conduct an audit of the World Health Organization 
        relating to its actions in response to COVID-19.
    (b) United Nations Actions.--The Permanent United States 
Representative to the United Nations shall request the United Nations 
Office of Internal Oversight Services to establish a panel with 
representatives from each G-20 country and international organization 
to--
            (1) conduct a review of the World Health Organization's 
        response to COVID-19; and
            (2) make recommendations to the United Nations and the 
        United Nations Security Council on actions that can be taken 
        to--
                    (A) ensure improved future responses; and
                    (B) ensure accountability of World Health 
                Organization officials for identified failures.

SEC. 106. INTERNATIONAL RESPONSE TO WET MARKETS GLOBALLY.

    (a) In General.--The Permanent United States Representative to the 
United Nations shall use the voice, vote, and influence of the United 
States to seek the adoption in the United Nations General Assembly or 
Security Council of a resolution to ban wet markets described in 
subsection (b) globally.
    (b) Wet Markets Described.--A wet market described in this 
subsection is a market where--
            (1) animals are sold, dead or alive, for human consumption;
            (2) the origin of such animals and their health cannot be 
        certified; and
            (3) the conditions in which such animals are raised, kept, 
        or sold are unhygienic.

SEC. 107. PUBLIC HEALTH EMERGENCY OF INTERNATIONAL CONCERN DEFINED.

    In this Act, the term ``public health emergency of international 
concern'' means a public health emergency determined to be a public 
health emergency of international concern by the World Health 
Organization.

             TITLE II--REVOKING CCP'S ABILITY TO GET VISAS

SEC. 201. DISCLOSURE ON CERTAIN VISA APPLICATIONS.

    (a) Disclosure Requirement for F and M Visas.--Not later than 180 
days after the date of the enactment of this Act, the Secretary of 
Homeland Security shall update Form I-20, or a successor form with 
respect to eligibility for nonimmigrant student status, to require an 
alien submitting such form to report--
            (1) whether the alien has received or plans to receive 
        certain funds;
            (2) the amount of any certain funds received by the alien; 
        and
            (3) a description of the entity providing any certain funds 
        to the alien.
    (b) Disclosure Requirement for J Visas.--Not later than 180 days 
after the date of the enactment of this Act, the Secretary of State 
shall update Form DS-2019, or a successor form with respect to 
eligibility for a exchange visitor status, to require an alien 
submitting such form to report--
            (1) whether the alien has received or plans to receive 
        certain funds;
            (2) the amount of any certain funds received by the alien; 
        and
            (3) a description of the entity providing any certain funds 
        to the alien.
    (c) Updated Disclosure Requirement.--
            (1) In general.--An alien who receives certain funds after 
        receiving a visa under subparagraph (F), (J), or (M) of section 
        101(a)(15) of the Immigration and Nationality Act (8 U.S.C. 
        1101(a)(15)) shall report to the Secretary of Homeland Security 
        and the Secretary of State the receipt of such funds not more 
        than 90 days after the date on which such funds are received.
            (2) Provisional revocation based on failure to comply with 
        disclosure requirement.--An alien who receives certain funds 
        and does not report such receipt pursuant to paragraph (1) is 
        subject to revocation of any visa or other entry documentation 
        regardless of when the visa or other entry documentation was 
        issued.
    (d) Disclosure for Alien Spouse and Minor Children.--The disclosure 
requirements under subsections (a) through (c) shall apply to an alien 
spouse or any minor children applying for or receiving a visa under 
subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration 
and Nationality Act (8 U.S.C. 1101(a)(15)).
    (e) Applicability.--Not later than 180 days after the date of the 
enactment of this Act, an alien, alien spouse, or any minor children 
who have a valid visa under subparagraph (F), (J), or (M) of section 
101(a)(15) of the Immigration and Nationality Act (8 U.S.C. 
1101(a)(15)) on the date of the enactment of this Act, shall report to 
the Secretary of Homeland Security--
            (1) whether such alien has received or plans to receive 
        certain funds;
            (2) the amount of any certain funds received by the alien; 
        and
            (3) a description of the entity providing any certain funds 
        to the alien.
    (f) Certain Funds Defined.--In this section, the term ``certain 
funds'' includes any amount of money provided to an alien from the 
Chinese Communist Party or any entity owned or controlled by the 
Chinese Communist Party.

       TITLE III--TIGHTEN UP REGULATIONS ON CONFUCIUS INSTITUTES

SEC. 301. RESTRICTIONS ON CONFUCIUS INSTITUTES.

    (a) Definition.--In this section, the term ``Confucius Institute'' 
means a cultural institute directly or indirectly funded by the 
Government of the People's Republic of China.
    (b) Restrictions on Confucius Institutes.--An institution of higher 
education or other postsecondary educational institution (referred to 
in this section as an ``institution'') shall not be eligible to receive 
Federal funds from the Department of Education (except funds under 
title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.) 
or other Department of Education funds that are provided directly to 
students) unless the institution ensures that any contract or agreement 
between the institution and a Confucius Institute includes clear 
provisions that--
            (1) protect academic freedom at the institution;
            (2) prohibit the application of any foreign law on any 
        campus of the institution; and
            (3) grant full managerial authority of the Confucius 
        Institute to the institution, including full control over what 
        is being taught, the activities carried out, the research 
        grants that are made, and who is employed at the Confucius 
        Institute.

              TITLE IV--DELISTING CHINA FROM STOCK MARKETS

SEC. 401. PROHIBITIONS RELATING TO CERTAIN COMMUNIST CHINESE MILITARY 
              COMPANIES.

    (a) Definitions.--In this section:
            (1) Commission.--The term ``Commission'' means the 
        Securities and Exchange Commission.
            (2) Control; insurance company.--The terms ``control'' and 
        ``insurance company'' have the meaning given the terms in 
        section 2(a) of the Investment Company Act of 1940 (15 U.S.C. 
        80a-2(a)).
            (3) Covered entity.--
                    (A) In general.--The term ``covered entity''--
                            (i) means an entity on--
                                    (I) the list of Communist Chinese 
                                military companies required by section 
                                1237(b) of the Strom Thurmond National 
                                Defense Authorization Act for Fiscal 
                                Year 1999 (Public Law 105-261; 50 
                                U.S.C. 1701 note); or
                                    (II) the entity list maintained by 
                                the Bureau of Industry and Security of 
                                the Department of Commerce and set 
                                forth in Supplement No. 4 to part 744 
                                of the title 15, Code of Federal 
                                Regulations; and
                            (ii) includes a parent, subsidiary, or 
                        affiliate of, or an entity controlled by, an 
                        entity described in clause (i).
                    (B) Grace period.--For the purposes of this Act, 
                and the amendments made by this Act, an entity shall be 
                considered to be a covered entity beginning on the date 
                that is 1 year after the date on which the entity first 
                qualifies under the applicable provision of 
                subparagraph (A).
            (4) Exchange; security.--The terms ``exchange'' and 
        ``security'' have the meanings given those terms in section 
        3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).
    (b) Prohibitions.--
            (1) Listing on exchange.--Beginning on the date that is 1 
        year after the date of enactment of this Act, the Commission 
        shall prohibit a covered entity from offering to sell or 
        selling on an exchange (or through any other method that is 
        within the jurisdiction of the Commission to regulate, 
        including through the method of trading that is commonly 
        referred to as the ``over-the-counter'' trading of securities) 
        securities issued by the covered entity, including pursuant to 
        an exemption to section 5 of the Securities Act of 1933 (15 
        U.S.C. 77e).
            (2) Investments; limitation on actions.--
                    (A) In general.--The Investment Company Act of 1940 
                (15 U.S.C. 80a-1 et seq.) is amended--
                            (i) in section 12(d) (15 U.S.C. 80a-12(d)), 
                        by adding at the end the following:
            ``(4)(A) It shall be unlawful for any investment company, 
        or any person that would be an investment company but for the 
        application of paragraph (1) or (7) of section 3(c), to invest 
        in a covered entity.
            ``(B) In this paragraph, the term `covered entity' has the 
        meaning given the term in section 2(a) of the American 
        Financial Markets Integrity and Security Act.''; and
                            (ii) in section 13(c)(1) (15 U.S.C. 80a-
                        13(c)(1))--
                                    (I) in subparagraph (A), by 
                                striking ``or'' at the end;
                                    (II) in subparagraph (B), by 
                                striking the period at the end and 
                                inserting ``or''; and
                                    (III) by adding at the end the 
                                following:
                    ``(C) are covered entities, as that term is defined 
                in section 12(d)(4)(B).''.
                    (B) Effective date.--The amendments made by 
                subparagraph (A) shall take effect on the date that is 
                1 year after the date of enactment of this Act.
            (3) Federal funds.--
                    (A) In general.--Except as provided in subparagraph 
                (B), on and after the date that is 180 days after the 
                date of enactment of this Act, no Federal funds may be 
                used to enter into, extend, or renew a contract or 
                purchasing agreement with a covered entity.
                    (B) Waiver.--The head of a Federal agency may issue 
                a national security waiver to the prohibition in 
                subparagraph (A) for a period of not more than 2 years 
                with respect to a covered entity if the agency head 
                submits to Congress a notification that includes--
                            (i) a written justification for the waiver; 
                        and
                            (ii) a plan for a phase-out of the goods or 
                        services provided by the covered entity.
            (4) Investments by insurance companies.--
                    (A) In general.--On and after the date of enactment 
                of this Act, an insurance company may not invest in a 
                covered entity.
                    (B) Certification of compliance.--
                            (i) In general.--Each insurance company 
                        shall, on an annual basis, submit to the 
                        Secretary of the Treasury a certification of 
                        compliance with subparagraph (A).
                            (ii) Responsibilities of the secretary.--
                        The Secretary of the Treasury shall create a 
                        form for the submission required under clause 
                        (i) in such a manner that minimizes the 
                        reporting burden on an insurance company making 
                        the submission.
                    (C) Sharing information.--The Secretary of the 
                Treasury, acting through the Federal Insurance Office, 
                shall share the information received under subparagraph 
                (B) and coordinate verification of compliance with 
                State insurance offices.
    (c) Qualified Trusts, etc.--
            (1) In general.--Subsection (a) of section 401 of the 
        Internal Revenue Code of 1986 is amended by inserting after 
        paragraph (38) the following new paragraph:
            ``(39) Prohibited investments.--A trust which is part of a 
        plan shall not be treated as a qualified trust under this 
        subsection unless the plan provides that no part of the plan's 
        assets will be invested in any covered entity (as defined in 
        section 12(d)(6)(B) of the Investment Company Act of 1940).''.
            (2) IRAs.--Paragraph (3) of section 408(a) of such Code is 
        amended by striking ``contracts'' and inserting ``contracts or 
        in any covered entity (as defined in section 12(d)(6)(B) of the 
        Investment Company Act of 1940)''.
            (3) Fiduciary duty.--Section 404 of the Employee Retirement 
        Income Security Act of 1974 (29 U.S.C. 1104) is amended by 
        adding at the end the following new subsection:
    ``(f) Prohibited Investments.--No fiduciary shall cause any assets 
of a plan to be invested in any covered entity (as defined in section 
12(d)(6)(B) of the Investment Company Act of 1940 (15 U.S.C. 80a-
12(d)(6)(B))).''.
            (4) Effective date.--
                    (A) In general.--Except as provided in subparagraph 
                (B), the amendments made by this subsection shall apply 
                to plan years beginning after the date which is 180 
                days after the date of the enactment of this Act.
                    (B) Plan amendments.--If subparagraph (C) applies 
                to any retirement plan or contract amendment--
                            (i) such plan or contract shall not fail to 
                        be treated as being operated in accordance with 
                        the terms of the plan during the period 
                        described in subparagraph (C)(ii) solely 
                        because the plan operates in accordance with 
                        the amendments made by this subsection; and
                            (ii) except as provided by the Secretary of 
                        the Treasury (or the Secretary's delegate), 
                        such plan or contract shall not fail to meet 
                        the any requirements of the Internal Revenue 
                        Code of 1986 or the Employee Retirement Income 
                        Security Act of 1974 by reason of such 
                        amendment.
                    (C) Amendments to which paragraph applies.--
                            (i) In general.--This subparagraph shall 
                        apply to any amendment to any plan or annuity 
                        contract which--
                                    (I) is made pursuant to the 
                                provisions of this section; and
                                    (II) is made on or before the last 
                                day of the first plan year beginning on 
                                or after the date which is 2 years 
                                after the date of the enactment of this 
                                Act (4 years after such date of 
                                enactment, in the case of a 
                                governmental plan).
                            (ii) Conditions.--This subparagraph shall 
                        not apply to any amendment unless--
                                    (I) during the period beginning on 
                                the date which is 180 days after the 
                                date of the enactment of this Act, and 
                                ending on the date described in clause 
                                (i)(II) (or, if earlier, the date the 
                                plan or contract amendment is adopted), 
                                the plan or contract is operated as if 
                                such plan or contract amendment were in 
                                effect; and
                                    (II) such plan or contract 
                                amendment applies retroactively for 
                                such period.
                    (D) Subsequent amendments.--Rules similar to the 
                rules of subparagraphs (B) and (C) shall apply in the 
                case of any amendment to any plan or annuity contract 
                made pursuant to any update of the list of Communist 
                Chinese military companies required by section 1237(b) 
                of the Strom Thurmond National Defense Authorization 
                Act for Fiscal Year 1999 (Public Law 105-261; 50 U.S.C. 
                1701 note) which is made after the effective date of 
                the amendments made by this subsection.

SEC. 402. MODIFICATION OF REQUIREMENTS FOR LIST OF COMMUNIST CHINESE 
              MILITARY COMPANIES.

    Section 1237(b) of the Strom Thurmond National Defense 
Authorization Act for Fiscal Year 1999 (Public Law 105-261; 50 U.S.C. 
1701 note) is amended--
            (1) by striking paragraph (2) and inserting the following:
            ``(2) Revisions to the list.--
                    ``(A) Additions.--The Secretary of Defense, the 
                Secretary of Commerce, or the Director of National 
                Intelligence may add a person to the list required by 
                paragraph (1) at any time.
                    ``(B) Removals.--A person may be removed from the 
                list required by paragraph (1) if the Secretary of 
                Defense, the Secretary of Commerce, and the Director of 
                National Intelligence agree to remove the person from 
                the list.
                    ``(C) Submission of updates to congress.--Not later 
                than February 1 of each year, the Secretary of Defense 
                shall submit a version of the list required in 
                paragraph (1), updated to include any additions or 
                removals under this paragraph, to the committees and 
                officers specified in paragraph (1).'';
            (2) by striking paragraph (3) and inserting the following:
            ``(3) Consultation.--In carrying out paragraphs (1) and 
        (2), the Secretary of Defense, the Secretary of Commerce, and 
        the Director of National Intelligence shall consult with each 
        other, the Attorney General, and the Director of the Federal 
        Bureau of Investigation.''; and
            (3) in paragraph (4), in the matter preceding subparagraph 
        (A), by striking ``making the determination required by 
        paragraph (1) and of carrying out paragraph (2)'' and inserting 
        ``this section''.

SEC. 403. ANALYSIS OF FINANCIAL AMBITIONS OF THE GOVERNMENT OF THE 
              PEOPLE'S REPUBLIC OF CHINA.

    (a) Analysis Required.--The Director of the Office of Commercial 
and Economic Analysis of the Air Force shall conduct an analysis of--
            (1) the strategic importance to the Government of the 
        People's Republic of China of inflows of United States dollars 
        through capital markets to the People's Republic of China;
            (2) the methods by which that Government seeks to manage 
        such inflows;
            (3) how the inclusion of the securities of Chinese entities 
        in stock or bond indexes affects such inflows and serves the 
        financial ambitions of that Government; and
            (4) how the listing of the securities of Chinese entities 
        on exchanges in the United States assists in--
                    (A) meeting the strategic goals of that Government, 
                including defense, surveillance, and intelligence 
                goals; and
                    (B) the fusion of the civilian and military 
                components of that Government.
    (b) Submission to Congress.--The Director of the Office of 
Commercial and Economic Analysis of the Air Force shall submit to 
Congress a report--
            (1) setting forth the results of the analysis conducted 
        under subsection (a); and
            (2) based on that analysis, making recommendations for best 
        practices to mitigate any national security and economic risks 
        to the United States relating to the financial ambitions of the 
        Government of the People's Republic of China.

          TITLE V--REVOKING CHINA'S MOST FAVORED NATION STATUS

SEC. 501. WITHDRAWAL OF NORMAL TRADE RELATIONS TREATMENT FROM THE 
              PEOPLE'S REPUBLIC OF CHINA.

    Notwithstanding the provisions of title I of Public Law 106-286 
(114 Stat. 880) or any other provision of law, effective on the date of 
the enactment of this Act--
            (1) normal trade relations treatment shall not apply 
        pursuant to section 101 of that Act to the products of the 
        People's Republic of China;
            (2) normal trade relations treatment may thereafter be 
        extended to the products of the People's Republic of China only 
        in accordance with the provisions of chapter 1 of title IV of 
        the Trade Act of 1974 (19 U.S.C. 2431 et seq.), as in effect 
        with respect to the products of the People's Republic of China 
        on the day before the effective date of the accession of the 
        People's Republic of China to the World Trade Organization; and
            (3) the extension of waiver authority that was in effect 
        with respect to the People's Republic of China under section 
        402(d)(1) of the Trade Act of 1974 (19 U.S.C. 2432(d)(1)) on 
        the day before the effective date of the accession of the 
        People's Republic of China to the World Trade Organization 
        shall, upon the enactment of this Act, be deemed not to have 
        expired, and shall continue in effect until the date that is 90 
        days after the date of such enactment.

SEC. 502. EXPANSION OF BASES OF INELIGIBILITY OF PEOPLE'S REPUBLIC OF 
              CHINA FOR NORMAL TRADE RELATIONS.

    (a) In General.--Section 402 of the Trade Act of 1974 (19 U.S.C. 
2432) is amended--
            (1) in the section heading, by striking ``freedom of 
        emigration in east-west trade'' and inserting ``east-west trade 
        and human rights''; and
            (2) by adding at the end the following:
    ``(f) Additional Bases of Ineligibility of People's Republic of 
China for Normal Trade Relations.--
            ``(1) In general.--Products from the People's Republic of 
        China shall not be eligible to receive nondiscriminatory 
        treatment (normal trade relations), the People's Republic of 
        China shall not participate in any program of the Government of 
        the United States which extends credits or credit guarantees or 
        investment guarantees, directly or indirectly, and the 
        President shall not conclude any commercial agreement with the 
        People's Republic of China, during the period--
                    ``(A) beginning with the date on which the 
                President determines that the People's Republic of 
                China--
                            ``(i) is in violation of paragraph (1), 
                        (2), or (3) of subsection (a);
                            ``(ii) uses or provides for the use of 
                        slave labor;
                            ``(iii) operates `vocational training and 
                        education centers' or other concentration camps 
                        where people are held against their will;
                            ``(iv) performs or otherwise orders forced 
                        abortion or sterilization procedures;
                            ``(v) harvests the organs of prisoners 
                        without their consent;
                            ``(vi) hinders the free exercise of 
                        religion;
                            ``(vii) intimidates or harasses nationals 
                        of the People's Republic of China living 
                        outside the People's Republic of China; or
                            ``(viii) engages in systematic economic 
                        espionage against the United States, including 
                        theft of the intellectual property of United 
                        States persons; and
                    ``(B) ending on the date on which the President 
                determines that the People's Republic of China is no 
                longer in violation of any of clauses (i) through 
                (viii) of subparagraph (A).
            ``(2) Report required.--
                    ``(A) In general.--After the date of the enactment 
                of this subsection, products of the People's Republic 
                of China may be eligible to receive nondiscriminatory 
                treatment (normal trade relations), the People's 
                Republic of China may participate in any program of the 
                Government of the United States which extends credits 
                or credit guarantees or investment guarantees, and the 
                President may conclude a commercial agreement with the 
                People's Republic of China, only after the President 
                has submitted to Congress a report indicating that the 
                People's Republic of China is not in violation of any 
                of clauses (i) through (viii) of paragraph (1)(A).
                    ``(B) Elements.--The report required by 
                subparagraph (A) shall include information as to the 
                nature and implementation of laws and policies of the 
                People's Republic of China relating to the matters 
                specified in clauses (i) through (viii) of paragraph 
                (1)(A).
                    ``(C) Deadlines.--The report required by 
                subparagraph (A) shall be submitted on or before each 
                June 30 and December 31 of each year for as long as 
                products of the People's Republic of China receive 
                nondiscriminatory treatment (normal trade relations), 
                the People's Republic of China participates in any 
                program of the Government of the United States which 
                extends credits or credit guarantees or investment 
                guarantees, or a commercial agreement with the People's 
                Republic of China is in effect.
            ``(3) Waiver.--
                    ``(A) In general.--The President is authorized to 
                waive by Executive order the application of paragraphs 
                (1) and (2) for a 12-month period if the President 
                submits to Congress a report that the President--
                            ``(i) has determined that such waiver will 
                        substantially promote the objectives of this 
                        subsection; and
                            ``(ii) has received assurances that the 
                        practices of the People's Republic of China 
                        relating to the matters specified in clauses 
                        (i) through (viii) of paragraph (1)(A) will in 
                        the future lead substantially to the 
                        achievement of the objectives of this 
                        subsection.
                    ``(B) Termination of waiver.--A waiver under 
                subparagraph (A) shall terminate on the earlier of--
                            ``(i) the day after the waiver authority 
                        granted by this paragraph ceases to be 
                        effective under paragraph (4); or
                            ``(ii) the effective date of an Executive 
                        order providing for termination of the waiver.
            ``(4) Extension of waiver authority.--
                    ``(A) Recommendations.--If the President determines 
                that the further extension of the waiver authority 
                granted under paragraph (3) will substantially promote 
                the objectives of this subsection, the President may 
                recommend further extensions of such authority for 
                successive 12-month periods. Any such recommendations 
                shall--
                            ``(i) be made not later than 30 days before 
                        the expiration of such authority;
                            ``(ii) be made in a document submitted to 
                        the House of Representatives and the Senate 
                        setting forth the reasons of the President for 
                        recommending the extension of such authority; 
                        and
                            ``(iii) include--
                                    ``(I) a determination that 
                                continuation of the waiver will 
                                substantially promote the objectives of 
                                this subsection; and
                                    ``(II) a statement setting forth 
                                the reasons of the President for such 
                                determination.
                    ``(B) Continuation in effect of waiver.--If the 
                President recommends under subparagraph (A) the further 
                extension of the waiver authority granted under 
                paragraph (3), such authority shall continue in effect 
                until the end of the 12-month period following the end 
                of the previous 12-month extension, unless--
                            ``(i) Congress adopts and transmits to the 
                        President a joint resolution of disapproval 
                        under paragraph (5) before the end of the 60-
                        day period beginning on the date the waiver 
                        authority would expire but for an extension 
                        under subparagraph (A); and
                            ``(ii) if the President vetoes the joint 
                        resolution, each House of Congress votes to 
                        override the veto on or before the later of--
                                    ``(I) the last day of the 60-day 
                                period referred to in clause (i); or
                                    ``(II) the last day of the 15-day 
                                period (excluding any day described in 
                                section 154(b)) beginning on the date 
                                on which Congress receives the veto 
                                message from the President.
                    ``(C) Termination of waiver pursuant to joint 
                resolution of disapproval.--If a joint resolution of 
                disapproval is enacted into law pursuant to paragraph 
                (5), the waiver authority granted under paragraph (3) 
                shall cease to be effective as of the day after the 60-
                day period beginning on the date of the enactment of 
                the joint resolution.
            ``(5) Joint resolution of disapproval.--
                    ``(A) Joint resolution of disapproval defined.--In 
                this paragraph, the term `joint resolution of 
                disapproval' means a joint resolution the matter after 
                the resolving clause of which is as follows: `That 
                Congress does not approve the extension of the 
                authority contained in paragraph (3) of section 402(f) 
                of the Trade Act of 1974 with respect to the People's 
                Republic of China recommended by the President to 
                Congress under paragraph (4) of that section on ___.', 
                with the blank space being filled with the appropriate 
                date.
                    ``(B) Procedures in house and senate.--The 
                provisions of subsections (b) through (f) of section 
                152 shall apply with respect to a joint resolution of 
                approval to the same extent and in the same manner as 
                such provisions apply with respect to a resolution 
                described in subsection (a) of that section, except 
                that subsection (e)(2) of that section shall be applied 
                and administered by substituting `Consideration' for 
                `Debate'.
                    ``(C) Rules of the house of representatives and 
                senate.--This paragraph is enacted by Congress--
                            ``(i) as an exercise of the rulemaking 
                        power of the House of Representatives and the 
                        Senate, respectively, and as such is deemed a 
                        part of the rules of each House, respectively, 
                        and supersedes other rules only to the extent 
                        that it is inconsistent with such other rules; 
                        and
                            ``(ii) with full recognition of the 
                        constitutional right of either House to change 
                        the rules (so far as relating to the procedure 
                        of that House) at any time, in the same manner 
                        and to the same extent as in the case of any 
                        other rule of that House.''.
    (b) Clerical Amendment.--The table of contents for the Trade Act of 
1974 is amended by striking the item relating to section 402 and 
inserting the following:

``Sec. 402. East-West trade and human rights.''.

                TITLE VI--REMOVAL OF CHINA FROM THE WTO

SEC. 601. REMOVAL OF CHINA FROM THE WTO.

    The President shall direct the U.S. Permanent Mission to the World 
Trade Organization (WTO) to use the voice, vote, and influence of the 
United States to seek the removal of the People's Republic of China 
from the WTO.

           TITLE VII--END LENDING TO THE CCP FROM WORLD BANK

SEC. 701. OPPOSITION TO PROVISION OF ASSISTANCE TO PEOPLE'S REPUBLIC OF 
              CHINA BY MULTILATERAL DEVELOPMENT BANKS.

    (a) Findings.--Congress makes the following findings:
            (1) The People's Republic of China is the world's second 
        largest economy and a major global lender.
            (2) In February 2021, the foreign exchange reserves of the 
        People's Republic of China totaled more than 
        $3,200,000,000,000.
            (3) The World Bank classifies the People's Republic of 
        China as having an upper-middle-income economy.
            (4) On February 25, 2021, President Xi Jinping announced 
        ``complete victory'' over extreme poverty in the People's 
        Republic of China.
            (5) The Government of the People's Republic of China 
        utilizes state resources to create and promote the Asian 
        Infrastructure Investment Bank, the New Development Bank, and 
        the Belt and Road Initiative.
            (6) The People's Republic of China is the world's largest 
        official creditor.
            (7) Through a multilateral development bank, countries are 
        eligible to borrow until they can manage long-term development 
        and access to capital markets without financial resources from 
        the bank.
            (8) The World Bank reviews the graduation of a country from 
        eligibility to borrow from the International Bank for 
        Reconstruction and Development once the country reaches the 
        graduation discussion income, which is equivalent to the gross 
        national income. For fiscal year 2021, the graduation 
        discussion income is a gross national income per capita 
        exceeding $7,065.
            (9) Many of the other multilateral development banks, such 
        as the Asian Development Bank, use the gross national income 
        per capita benchmark used by the International Bank for 
        Reconstruction and Development to trigger the graduation 
        process.
            (10) The People's Republic of China exceeded the graduation 
        discussion income threshold in 2016.
            (11) Since 2016, the International Bank for Reconstruction 
        and Development has approved projects totaling $8,930,000,000 
        to the People's Republic of China.
            (12) Since 2016, the Asian Development Bank has continued 
        to approve loans and technical assistance to the People's 
        Republic of China totaling $7,600,000,000. The Bank has also 
        approved non-sovereign commitments in the People's Republic of 
        China totaling $1,800,000,000 since 2016.
            (13) The World Bank calculates the People's Republic of 
        China's most recent year (2019) gross national income per 
        capita as $10,390.
    (b) Statement of Policy.--It is the policy of the United States to 
oppose any additional lending from the multilateral development banks, 
including the International Bank for Reconstruction and Development and 
the Asian Development Bank, to the People's Republic of China as a 
result of the People's Republic of China's successful graduation from 
the eligibility requirements for assistance from those banks.
    (c) Opposition to Lending to People's Republic of China.--The 
Secretary of the Treasury shall instruct the United States Executive 
Director at each multilateral development bank to use the voice, vote, 
and influence of the United States--
            (1) to oppose any loan or extension of financial or 
        technical assistance by the bank to the People's Republic of 
        China; and
            (2) to end lending and assistance to countries that exceed 
        the graduation discussion income of the bank.
    (d) Report Required.--Not later than one year after the date of the 
enactment of this Act, and annually thereafter, the Secretary of the 
Treasury shall submit to the appropriate congressional committees a 
report that includes--
            (1) an assessment of the status of borrowing by the 
        People's Republic of China from each multilateral development 
        bank;
            (2) a description of voting power, shares, and 
        representation by the People's Republic of China at each such 
        bank;
            (3) a list of countries that have exceeded the graduation 
        discussion income at each such bank;
            (4) a list of countries that have graduated from 
        eligibility for assistance from each such bank; and
            (5) a full description of the efforts taken by the United 
        States to graduate countries from such eligibility once they 
        exceed the graduation discussion income at each such bank.
    (e) Definitions.--In this section:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Foreign Relations of the 
                Senate; and
                    (B) the Committee on Financial Services and the 
                Committee on Foreign Affairs of the House of 
                Representatives.
            (2) Multilateral development banks.--The term 
        ``multilateral development banks'' has the meaning given that 
        term in section 1701(c) of the International Financial 
        Institutions Act (22 U.S.C. 262r(c)).
                                 <all>
Hold CCP Accountable Act of 2022
To hold the Chinese Communist Party accountable for the COVID-19 pandemic that has killed approximately 981,000 Americans.
Hold CCP Accountable Act of 2022
Rep. Fitzpatrick, Brian K.