To authorize the President to impose sanctions with respect to any foreign person the President determines, based on credible evidence, engages in public or private sector corruption activities that adversely affect a United States foreign investor, and for other purposes.
Protecting United States Businesses Abroad Act
This bill authorizes the President to impose visa-blocking sanctions on foreign individuals or entities that engage in certain forms of corruption, expropriation, or extortion to the detriment of a U.S. person or entity that has made an investment in a foreign country. Some of the actions subject to sanctions include (1) using state authority to extort payments from or intimidate such a U.S. investor, (2) expropriating the assets of a U.S. investor without just compensation, and (3) engaging in extortion or threatening force against a U.S. investor.
The President shall report to Congress on sanctions imposed under this bill.
The Department of State shall develop and report to Congress a strategy to coordinate U.S. government efforts to protect such U.S. investors from corruption.
Introduced in House
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sponsor introductory remarks on measure. (CR H3240)
Referred to the Subcommittee on Immigration and Citizenship.
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