TASK Act
Sponsored By: Senator Scott, Rick [R-FL]
Introduced
Summary
Expanded SEC reporting on Xinjiang forced-labor links and Chinese state influence. This bill would require the Securities and Exchange Commission, when considering environmental, social, and governance reporting guidance, to add three new disclosure categories for publicly traded companies.
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- Publicly traded companies would have to report sourcing and due diligence activities tied to supply chains for products imported into the United States that are directly linked to products using forced labor from Xinjiang, China. This targets how companies trace and report supplier risks.
- Firms that transact with certain Chinese entities would report those transactions. Specifically this covers companies on the Department of Commerce Entity List and entities Treasury has labeled as Chinese Military-Industrial Complex Companies.
- U.S. publicly traded companies with facilities in China would annually disclose whether a Chinese Communist Party committee exists in their operations and summarize actions or corporate decisions that committee may have participated in.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New China and supply-chain reporting
If enacted, the bill would direct the SEC to require new disclosures from U.S. publicly traded companies. Companies would report sourcing and due diligence for imports linked to alleged forced labor in Xinjiang. They would report transactions with firms on the Commerce Department Entity List or named by Treasury as Chinese Military-Industrial Complex Companies. Companies with China facilities would annually say whether a Chinese Communist Party committee exists there and summarize any decisions it took. This would give investors and consumers more information but would add compliance and reporting costs for companies.
Sponsors & CoSponsors
Sponsor
Scott, Rick [R-FL]
FL • R
Cosponsors
Sen. Blackburn, Marsha [R-TN]
TN • R
Sponsored 4/8/2025
Sen. Cassidy, Bill [R-LA]
LA • R
Sponsored 4/8/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov