Holding Chinese Military Companies Accountable Act
This bill expands the definition of a Communist Chinese military company and addresses related issues. (Current law authorizes the President to exercise certain economic powers, such as investigating or prohibiting payments, involving a person designated a Communist Chinese military company.)
Under this bill, the Department of Defense (DOD) shall apply the designation to a person (i.e., an individual or entity) with significant investments in certain technology sectors, such as fifth-generation wireless communications or artificial intelligence, if the person is owned by, controlled by, or affiliated with the Chinese Communist Party or any person who has ever been a delegate to the National People's Congress.
The bill also requires DOD to continue making periodic determinations regarding such designations until December 31, 2026.
To modify the definition of a communist Chinese military company for 
    purposes of the imposition of certain sanctions, and for other 
                               purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Holding Chinese Military Companies 
Accountable Act''.

SEC. 2. MODIFICATIONS TO APPLICATIONS OF IEEPA AUTHORITIES TO COMMUNIST 
              CHINESE MILITARY COMPANIES.

    Section 1237(b)(4)(B) of the Strom Thurmond National Defense 
Authorization Act for Fiscal Year 1999 (50 U.S.C. 1701 note) is 
amended--
            (1) by striking clause (ii);
            (2) in the matter preceding clause (i), by striking 
        ``that--'' and inserting ``that is engaged in providing 
        commercial services, manufacturing, producing, or exporting 
        and--'';
            (3) in clause (i), by striking ``; and'' and inserting ``; 
        or''; and
            (4) by adding at the end the following new clause:
                            ``(ii)(I) is owned or controlled by, or 
                        affiliated with, the Chinese Communist Party or 
                        any person who has ever been a delegate of a 
                        National People's Congress of the Chinese 
                        Communist Party; and
                            ``(II) is engaged in significant investment 
                        in the sectors of fifth-generation wireless 
                        communications, artificial intelligence, 
                        advanced computing, `big data' analytics, 
                        autonomy, robotics, directed energy, 
                        hypersonics, or biotechnology.''.

SEC. 3. EXTENSION OF AUTHORITY.

    Notwithstanding section 1061(i)(6) of the National Defense 
Authorization Act for Fiscal Year 2017 (10 U.S.C. 111 note), the 
submission required by subsection (b) of section 1237 of the Strom 
Thurmond National Defense Authorization Act for Fiscal Year 1999--
            (1) shall not terminate on December 31, 2021; and
            (2) shall continue in effect until December 31, 2026.
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Holding Chinese Military Companies Accountable Act
To modify the definition of a communist Chinese military company for purposes of the imposition of certain sanctions, and for other purposes.
Holding Chinese Military Companies Accountable Act
Rep. Banks, Jim