Finance and banking
2 evidence matches
Impact 94% Confidence 85%
Banking and financial institutions regulation
Financial Services Committee Standing House
HR 7440 - 116Hong Kong Autonomy Act
Became Public Law No: 116-149.
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Summary
00 Introduced in House Sep 8, 2020
Hong Kong Autonomy Act This bill imposes sanctions on foreign individuals and entities that materially contribute to China's failure to preserve Hong Kong's autonomy. Hong Kong is part of China but has a largely separate legal and economic system with protections for civil rights such as freedom of speech. This arrangement is enshrined in (1) the Joint Declaration, a 1984 treaty pertaining to the United Kingdom's transfer of Hong Kong's sovereignty to China; and (2) the Basic Law, Hong Kong's constitutional document. The Department of State shall report annually to Congress information about (1) foreign individuals and entities that materially contributed to China's failure to comply with the Joint Declaration or the Basic Law; and (2) foreign financial institutions that knowingly conducted a significant transaction with such identified individuals and entities. An individual, entity, or financial institution may be excluded from this report for various reasons, such as to protect an intelligence source. The President shall impose property-blocking sanctions on an individual or entity named in a report, and visa-blocking sanctions on a named individual. The President shall impose various sanctions on a financial institution named in a report, such as prohibiting the institution from receiving loans from a U.S. financial institution. The President may waive or terminate the imposition of sanctions under this bill. Congress may override such a waiver or termination by passing a joint resolution of disapproval.
49 Public Law Jul 20, 2020
Hong Kong Autonomy Act This bill imposes sanctions on foreign individuals and entities that materially contribute to China's failure to preserve Hong Kong's autonomy. Hong Kong is part of China but has a largely separate legal and economic system with protections for civil rights such as freedom of speech. This arrangement is enshrined in (1) the Joint Declaration, a 1984 treaty pertaining to the United Kingdom's transfer of Hong Kong's sovereignty to China; and (2) the Basic Law, Hong Kong's constitutional document. The Department of State shall report annually to Congress information about (1) foreign individuals and entities that materially contributed to China's failure to comply with the Joint Declaration or the Basic Law; and (2) foreign financial institutions that knowingly conducted a significant transaction with such identified individuals and entities. An individual, entity, or financial institution may be excluded from this report for various reasons, such as to protect an intelligence source. The President shall impose property-blocking sanctions on an individual or entity named in a report, and visa-blocking sanctions on a named individual. The President shall impose various sanctions on a financial institution named in a report, such as prohibiting the institution from receiving loans from a U.S. financial institution. The President may waive or terminate the imposition of sanctions under this bill. Congress may override such a waiver or termination by passing a joint resolution of disapproval.
55 Passed Senate Jul 13, 2020
Hong Kong Autonomy Act This bill imposes sanctions on foreign individuals and entities that materially contribute to China's failure to preserve Hong Kong's autonomy. Hong Kong is part of China but has a largely separate legal and economic system with protections for civil rights such as freedom of speech. This arrangement is enshrined in (1) the Joint Declaration, a 1984 treaty pertaining to the United Kingdom's transfer of Hong Kong's sovereignty to China; and (2) the Basic Law, Hong Kong's constitutional document. The Department of State shall report annually to Congress information about (1) foreign individuals and entities that materially contributed to China's failure to comply with the Joint Declaration or the Basic Law; and (2) foreign financial institutions that knowingly conducted a significant transaction with such identified individuals and entities. An individual, entity, or financial institution may be excluded from this report for various reasons, such as to protect an intelligence source. The President shall impose property-blocking sanctions on an individual or entity named in a report, and visa-blocking sanctions on a named individual. The President shall impose various sanctions on a financial institution named in a report, such as prohibiting the institution from receiving loans from a U.S. financial institution. The President may waive or terminate the imposition of sanctions under this bill. Congress may override such a waiver or termination by passing a joint resolution of disapproval.
53 Passed House Jul 2, 2020
Hong Kong Autonomy Act This bill imposes sanctions on foreign individuals and entities that materially contribute to China's failure to preserve Hong Kong's autonomy. Hong Kong is part of China but has a largely separate legal and economic system with protections for civil rights such as freedom of speech. This arrangement is enshrined in (1) the Joint Declaration, a 1984 treaty pertaining to the United Kingdom's transfer of Hong Kong's sovereignty to China; and (2) the Basic Law, Hong Kong's constitutional document. The Department of State shall report annually to Congress information about (1) foreign individuals and entities that materially contributed to China's failure to comply with the Joint Declaration or the Basic Law; and (2) foreign financial institutions that knowingly conducted a significant transaction with such identified individuals and entities. An individual, entity, or financial institution may be excluded from this report for various reasons, such as to protect an intelligence source. The President shall impose property-blocking sanctions on an individual or entity named in a report, and visa-blocking sanctions on a named individual. The President shall impose various sanctions on a financial institution named in a report, such as prohibiting the institution from receiving loans from a U.S. financial institution. The President may waive or terminate the imposition of sanctions under this bill. Congress may override such a waiver or termination by passing a joint resolution of disapproval.
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Timeline
Jul 14, 2020
Referred to the Subcommittee on Trade.
Jul 14, 2020
Signed by President.
Jul 14, 2020
Signed by President.
Jul 14, 2020
Became Public Law No: 116-149.
Jul 14, 2020
Became Public Law No: 116-149.
Jul 2, 2020
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S4180)
Jul 2, 2020
Passed Senate without amendment by Unanimous Consent. (consideration: CR S4180)
Jul 2, 2020
Message on Senate action sent to the House.
Jul 2, 2020
Presented to President.
Jul 2, 2020
Presented to President.
Jul 1, 2020
Introduced in House
Jul 1, 2020
Introduced in House
Jul 1, 2020
Referred to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Financial Services, Ways and Means, and Rules, 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.
Jul 1, 2020
Committee on Foreign Affairs discharged.
Jul 1, 2020
Committee on Foreign Affairs discharged.
Jul 1, 2020
Committee on the Judiciary discharged.
Jul 1, 2020
Committee on the Judiciary discharged.
Jul 1, 2020
Committee on Financial Services discharged.
Jul 1, 2020
Committee on Financial Services discharged.
Jul 1, 2020
Committee on Ways and Means discharged.
Jul 1, 2020
Committee on Ways and Means discharged.
Jul 1, 2020
Committee on Rules discharged.
Jul 1, 2020
Committee on Rules discharged.
Jul 1, 2020
Mr. Sherman asked unanimous consent to discharge from committee and consider.
Jul 1, 2020
Considered by unanimous consent. (consideration: CR H3039-3044; text: CR H3039-3044)
Jul 1, 2020
Passed/agreed to in House: On passage Passed without objection.
Jul 1, 2020
On passage Passed without objection.
Jul 1, 2020
Motion to reconsider laid on the table Agreed to without objection.
Jul 1, 2020
Received in the Senate, read twice.
House Votes
No House roll call votes have been linked to this bill yet.
Amendments
116/hamdt/831 Jul 1, 2020
An amendment to on page 35, line 16, strike "calendar" and insert "legislative".
An amendment to on page 35, line 16, strike "calendar" and insert "legislative".
On agreeing to the Sherman amendment (A001) Agreed to without objection.
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