# 116-hr-6706: To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.

116-hr-6706, To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes., is a 116th Congress bill sponsored by Sen. Banks, Jim [R-IN] (R-IN); status Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-6706
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-6706
- Congress: 116
- Title: To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.
- Status: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, 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.
- Introduced: 2020-05-05
- Sponsor: Sen. Banks, Jim [R-IN] (R-IN)
- Cosponsors: 3
- Policy area: Foreign Trade and International Finance
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

This bill requires the Committee on Foreign Investment in the United States to review any purchase by a Chinese entity of a controlling interest in a U.S. company deemed critical to national security, critical infrastructure, or of cultural significance. The President may approve such a purchase only if, among other things, the purchase price was not significantly affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic and the sale will not permit additional access to distribute propaganda or alter U.S. news and media consumption. The bill's provisions cease to have force or effect once the United States has substantially recovered from the economic impacts of the pandemic.

## Cosponsors (3)

- Rep. Posey, Bill [R-FL-8] (R-FL), 2020-05-08T00:00:00.000Z
- Rep. Cole, Tom [R-OK-4] (R-OK), 2020-05-12T00:00:00.000Z
- Rep. Stewart, Chris [R-UT-2] (R-UT), 2020-05-15T00:00:00.000Z

## Related bills

- 116-hr-7278: JUSTICE Act
- 116-hr-6829: EMPIL–DOC Act
- 116-hr-6802: ALIGN Act
- 116-hr-6742: Protecting Life in Crisis Act
- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-3495: Improve Well-Being for Veterans Act

## Sources
- [116-hr-6706 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/6706)

## Related
- [116-hr-7278: JUSTICE Act](https://policyrisk.com/legislation/116-hr-7278)
- [116-hr-6829: EMPIL–DOC Act](https://policyrisk.com/legislation/116-hr-6829)
- [116-hr-6802: ALIGN Act](https://policyrisk.com/legislation/116-hr-6802)
- [116-hr-6742: Protecting Life in Crisis Act](https://policyrisk.com/legislation/116-hr-6742)
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-3495: Improve Well-Being for Veterans Act](https://policyrisk.com/legislation/116-hr-3495)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-6706 (as of 2025-11-18).