American Investment Accountability Act
Sponsored By: Representative Stefanik, Elise M. [R-NY-21]
Introduced
Summary
Monitor U.S. investments into entities linked to foreign adversaries by creating a recurring federal reporting system. The bill would require Commerce, Treasury, and the Securities and Exchange Commission to deliver detailed, timed reports on direct and portfolio investments, mergers, joint ventures, spin-offs, and investments routed through offshore financial centers tied to countries of concern such as China, Russia, Iran, North Korea, Cuba, and Venezuela.
Show full summary
- Gives Congress regular, usable data. Reports would start within 1 year and then come every 90 days and include values broken out by sector and state.
- Forces more tracking of U.S. investors and covered U.S. businesses. The bill defines covered U.S. businesses to include firms with at least 25% U.S. ownership and excludes small businesses from that label.
- Directs each agency to different details. Commerce would report direct investment flows, Treasury would report portfolio activity and public offerings, and the SEC would flag mergers, joint ventures, spin-offs, and expansions that exceed $5.0 million or $10.0 million thresholds.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Quarterly reports on investments in countries of concern
This bill would require regular reports to Congress on U.S. money going into countries of concern and covered firms. The Commerce Department would track direct investments by U.S. persons, by sector and state, and include flows routed through offshore centers. It would count direct deals over $5,000,000 in one transaction or $10,000,000 total. Treasury would report portfolio investments, by sector and state, and include IPOs and secondary trading of covered-entity stock. It would flag portfolio deals over $10,000,000 in one transaction or $25,000,000 total. The SEC would list spin-offs, joint ventures, mergers, acquisitions, major expansions, and direct investments tied to these countries. The first reports would be due within 1 year, then every 90 days.
Who is covered and which countries
This bill would set who and where the rules cover. It would list China (including Hong Kong and Macau), Russia, Iran, North Korea, Cuba, and Venezuela as countries of concern. A 'covered entity' would include firms based in or subject to those countries, tied to their governments, or with at least 25% ownership by entities on U.S. sanctions lists like the BIS Entity List and OFAC lists. A 'covered United States business' would include U.S.-organized firms and some foreign firms with at least 25% U.S. ownership, but it would exclude small business concerns. It would also name offshore financial centers that route over $100 million in direct or $500 million in portfolio investments in a year to those countries or covered firms. These definitions would guide the new reporting and oversight.
Sponsors & CoSponsors
Sponsor
Stefanik, Elise M. [R-NY-21]
NY • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov