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119-s-2384119th CongressWALLET

American Investment Accountability Act

Sponsored By: Senator Scott, Rick [R-FL]

Introduced

Summary

This bill would create a government-wide reporting system to track U.S. investments in companies tied to foreign adversary countries. It would force Commerce, the Treasury, and the Securities and Exchange Commission to regularly disclose where U.S. capital flows into entities connected to countries of concern, including China, Russia, Iran, North Korea, Cuba, and Venezuela.

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  • Businesses and investors: Would surface investment links for U.S. firms and investors by requiring data on direct and portfolio investments, including transactions routed through offshore financial centers and ownership stakes at or above 25 percent.
  • Congress and agencies: Would require Commerce, the Treasury, and the SEC to deliver reports to specified congressional committees one year after enactment and then every 90 days, with data broken down by sector and state of origin.
  • Market transactions tracked: Would make the SEC report on spin-offs, joint ventures, mergers and acquisitions, expanded operations above $5 million in a single transaction or $10 million in aggregate, and other direct investments. The Treasury would report portfolio flows and activity in public offerings and secondary trading.

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Bill Overview

Analyzed Economic Effects

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

Which companies and people are covered

This bill would define which U.S. firms and which people count for the reporting rules. A "covered United States business" would be a firm organized under U.S. law or a foreign firm with at least 25% U.S. ownership. Small businesses that meet the Small Business Act test would be excluded. The bill would use an existing legal definition to say who is a "United States person." If enacted, these definitions would decide which firms and investors must be tracked.

Which countries, lists, and offshore centers

This bill would name which foreign governments and lists trigger reporting. It would call certain nations "countries of concern," including China (including Hong Kong and Macau), Russia, Iran, North Korea, Cuba, and Venezuela. It would also list specific U.S. sanctions lists agencies must use. The bill would define an "offshore financial center" as a non‑U.S. place that routes U.S. investments to those countries and handles over $100 million in direct or $500 million in portfolio investments per year.

Quarterly reports on foreign-linked investments

This bill would require Commerce, Treasury, and the SEC to send reports to Congress. The first reports would be due within one year and cover the prior 12 months. After that, reports would come every 90 days and cover the prior 90 days. Reports must show direct investments (single transactions over $5 million and $10 million aggregate) and portfolio investments (single transactions over $10 million and $25 million aggregate). The SEC report would list spinoffs, joint ventures, mergers and acquisitions, and expanded operations that meet the $5 million/$10 million thresholds. Reports must account for investments routed through offshore financial centers.

Sponsors & CoSponsors

Sponsor

Scott, Rick [R-FL]

FL • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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