Holding Chinese Military Companies Accountable Act
This bill expands the definition of a Communist Chinese military company and addresses related issues. (Current law authorizes the President to exercise certain economic powers, such as investigating or prohibiting payments, involving a person designated a Communist Chinese military company.)
Under this bill, the Department of Defense (DOD) shall apply the designation to a person (i.e., an individual or entity) with significant investments in certain technology sectors, such as fifth-generation wireless communications or artificial intelligence, if the person is owned by, controlled by, or affiliated with the Chinese Communist Party or any person who has ever been a delegate to the National People's Congress.
The bill also requires DOD to continue making periodic determinations regarding such designations until December 31, 2026.