US Congress Senate Bill 945 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Passed on December 18 2020 - 100% progression
Action: 2020-12-18 - Became Public Law No: 116-222. (TXT | PDF)
Text: Latest bill text (Enrolled) [PDF]

Requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange or through other methods. Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year the percentage of shares owned by governmental entities where the issuer is incorporated, whether these governmental entities have a controlling financial interest, information related to any board members who are officials of the Chinese Communist Party, and whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.

Holding Foreign Companies Accountable Act

Sen. John Kennedy [R-LA]	Sen. Chris Van Hollen [D-MD]	Sen. Kevin Cramer [R-ND]	Sen. Rick Scott [R-FL]
Sen. Tom Cotton [R-AR]

Date	Chamber	Action
2020-12-18	Senate	Became Public Law No: 116-222. (TXT | PDF)
2020-12-18	Senate	Signed by President.
2020-12-08	Senate	Presented to President.
2020-12-02	House	Motion to reconsider laid on the table Agreed to without objection.
2020-12-02	House	On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6031-6032)
2020-12-02	House	DEBATE - The House proceeded with forty minutes of debate on S. 945.
2020-12-02	House	Considered under suspension of the rules. (consideration: CR H6031-6035)
2020-12-02	House	Mr. Clay moved to suspend the rules and pass the bill.
2020-05-22	House	Held at the desk.
2020-05-22	House	Received in the House.
2020-05-22	Senate	Message on Senate action sent to the House.
2020-05-20	Senate	Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S2520)
2020-05-20	Senate	S.Amdt.1589 Amendment SA 1589 agreed to in Senate by Unanimous Consent.
2020-05-20	Senate	S.Amdt.1589 Amendment SA 1589 proposed by Senator Kennedy. (consideration: CR S2520; text: CR S2520) In the nature of a substitute.
2020-05-20	Senate	Measure laid before Senate by unanimous consent. (consideration: CR S2519-2520)
2020-05-20	Senate	Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
2019-12-10	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held.
2019-06-04	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held.
2019-03-28	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB7000 (Same As) 2020-05-22 - Referred to the House Committee on Financial Services.
SB4629 (Related) 2020-09-17 - Read twice and referred to the Committee on Foreign Relations.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/945/all-info
Text	https://www.congress.gov/116/bills/s945/BILLS-116s945is.pdf
Text	https://www.congress.gov/116/bills/s945/BILLS-116s945es.pdf
Text	https://www.congress.gov/116/bills/s945/BILLS-116s945enr.pdf