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117-s-1294117th Congress

Protecting American Intellectual Property Act of 2022

Sponsored By: Senator Van Hollen, Chris [D-MD]

Became Law

Summary

Creates a report-driven sanctions program to punish foreign persons who steal U.S. trade secrets. The law makes the President identify offenders in regular reports and pick from a defined menu of penalties to block their access to U.S. markets and finance.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Annual report on trade-secret theft

The President must send Congress a report within 180 days of enactment, then at least each year. The report names foreign people who stole U.S. trade secrets after this law and posed serious national security, foreign policy, or economic harm. It explains what happened and whether top leaders benefited. Reports are unclassified but can include a classified annex. The first report covers from the law’s date to the report date; later reports cover the prior year.

Sanctions on foreign firms that steal trade secrets

The President must punish any foreign company named in the most recent report. At least five sanctions apply, such as blocking property and adding the company to the Commerce Department Entity List. U.S. banks cannot lend more than $10,000,000 total to the company in any 12-month period, except to relieve human suffering. The government can bar U.S. investment, certain foreign‑exchange and banking transactions under U.S. rules, and federal purchases from the company. These limits start once the company is identified.

Visa bans for trade-secret thieves

Any foreign person named in the most recent report cannot get a U.S. visa or enter the country. Any current visa is revoked right away under existing rules. The President can also deny visas to corporate officers or controlling owners of the named company. These travel limits apply once the person is identified.

Sponsors & CoSponsors

Sponsor

Van Hollen, Chris [D-MD]

MD • D

Cosponsors

  • Sen. Sasse, Ben [R-NE]

    NE • R

    Sponsored 4/21/2021

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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