,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fiaf  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ae1 #bjbj,mr4  
,walker introduced the following bill2  
which was referred to the ,committee on 
,homeland ,security1 and in addition to 
the ,committees on ,ways and ,means1 and
 ,financial ,services1 for a period to  
be subsequently determined by the       
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to prohibit the listing of  
certain firms on national securities    
exchanges1 to provide for expensing of  
costs directly connected with moving    
manufacturing from ,china to the ,united
 ,states1 to establish a                
counterintelligence vetting task force1 
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,cage the ,paper ,tiger ,act of #bjbj4  
#b4 ,prohibition against the listing of 
certain firms on national securities    
exchanges  7a7 ,in general ,section     

#f7;b7 of the ,securities ,exchange ,act
 of #aicd 7#ae ,u4,s4,c4 #gh;f7b77 is   
amended by adding at the end the        
following3  7#aa7 7,a7 ,the rules of the
 exchange prohibit the initial listing1 
after the date of enactment of this     
paragraph1 of any security of an issuer 
if the registration statement filed with
 the ,commission for such security      
includes an audit report prepared by a  
covered foreign public accounting firm4 
7,b7 ,nothing in subparagraph 7,a7 may  
be construed to prevent an exchange from
 listing a security on the exchange on  
or after the date of enactment of this  
paragraph if that security was listed on
 the exchange or a national securities  
exchange before the date of enactment of
 this paragraph4  7,c7 ,in this         
paragraph-- 7i7 the term audit report   
has the meaning given the term in       
section #b7;a7 of the ,sarbanes-,oxley  
,act of #bjjb 7#ae ,u4,s4,c4 #gbja7;a772
  7ii7 the term covered foreign public  
accounting firm means a foreign public  

accounting firm that the ,public        
,company ,accounting ,oversight ,board  
is unable to inspect or investigate     
under the ,sarbanes-,oxley ,act of #bjjb
 7#ae ,u4,s4,c4 #gbja et seq47 because  
of a position taken by an authority     
outside of the ,united ,states2 and     
7iii7 the term foreign public accounting
 firm has the meaning given the term in 
section #ajf7;g7 of the ,sarbanes-,oxley
 ,act of #bjjb 7#ae ,u4,s4,c4           
#gbaf7;g774  4  7b7 ,rules  7#a7        
,proposals ,not later than #ij days     
after the date of enactment of this     
,act1 each national securities exchange 
shall file with the ,commission any     
proposed change to the rules of the     
exchange that is required as a result of
 the amendments made by this section4   
7#b7 ,adoption ,not later than #a year  
after the date of enactment of this     
,act1 each national securities exchange 
shall have each proposed change         
described in paragraph 7#a7 approved by 
the ,commission4  #c4 ,expensing of     

costs directly connected with moving    
manufacturing from ,china to the ,united
 ,states  7a7 ,in general ,part ,,vi of 
subchapter ,b of chapter #a of the      
,internal ,revenue ,code of #aihf is    
amended by inserting after section      
#agi;,e the following new section3      
#agi;,f4 ,election to expense certain   
assets directly connected to moving     
manufacturing from ,china to the ,united
 ,states  7a7 ,in general ,a specified  
taxpayer may elect to treat amounts paid
 or incurred for repatriation property  
as an expense which is not chargeable to
 capital account4 ,any cost so treated  
shall be allowed as a deduction for the 
taxable year in which such repatriation 
property is placed in service4  7b7     
,specified taxpayer ,for purposes of    
this section1 the term specified        
taxpayer means any taxpayer engaged in  
the trade or business of manufacturing  
any product if-- 7#a7 as of the date of 
the enactment of this section1 such     
taxpayer manufactured such product in   

,china1 and  7#b7 as of the date which  
is #c years after the date that the     
repatriation property is placed in      
service-- 7,a7 such taxpayer does not   
manufacture such product in ,china1 and 
7,b7 the quantity of such product       
manufactured in the ,united ,states by  
such taxpayer has increased 7relative to
 such quantity determined as of the date
 of the enactment of this section7 by an
 amount not less than the quantity of   
such product manufactured in ,china as  
of the date of the enactment of this    
section4  7c7 ,repatriation property    
,for purposes of this section1 the term 
repatriation property means any property
 7including any real property7 if-- 7#a7
 such property is used by the taxpayer  
in the ,united ,states to manufacture   
the product referred to in subsection   
7b71  7#b7 the acquisition of such      
property by the taxpayer is directly    
connected to replacing the productive   
capacity lost by the taxpayer by reason 
of ceasing manufacturing of such product

 in ,china 7as described in subsection  
7b77#b77;,a771 and  7#c7 such property  
is of a character which is subject to   
the allowance for depreciation provided 
in section #afg4  7d7 ,application of   
certain rules ,rules similar to the     
rules of subsection 7c71 and paragraphs 
7#d7 and 7#aj7 of subsection 7d71 of    
section #agi shall apply for purposes of
 this section4  4  7b7 ,clerical        
amendment ,the table of sections for    
part ,,vi of subchapter ,b of chapter #a
 of such ,code is amended by inserting  
after the item relating to section      
#agi;,e the following new item3  ,sec4  
#agi;,f4 ,election to expense certain   
assets directly connected to moving     
manufacturing from ,china to the ,united
 ,states4  4  7c7 ,effective date ,the  
amendments made by this section shall   
apply to property placed in service     
after the date of the enactment of this 
,act1 in taxable years ending after such
 date4  #d4 ,department of ,homeland    
,security counterintelligence vetting   

task force  7a7 ,establishment ,not     
later than #ahj days after the date of  
the enactment of this ,act1 the         
,secretary of ,homeland ,security shall 
assign personnel of the ,department of  
,homeland ,security to participate in a 
counterintelligence vetting task force  
to make recommendations to improve      
counterintelligence vetting for         
appropriate departmental programs4  7b7 
,personnel ,in carrying out subsection  
7a71 the ,secretary of ,homeland        
,security may assign personnel from any 
component of the ,department of         
,homeland ,security the ,secretary      
determines necessary to participate in  
the task force established pursuant to  
such subsection4  7c7 ,coordination ,in 
carrying out subsection 7a71 the        
,secretary of ,homeland ,security may   
request participation in the task force 
established pursuant to such subsection 
from other appropriate ,federal         
agencies4  7d7 ,report ,not later than  
one year after the date of the enactment

 of this ,act1 the ,secretary of        
,homeland ,security shall submit to the 
,committee on ,homeland ,security of the
 ,house of ,representatives and the     
,committee on ,homeland ,security and   
,governmental ,affairs of the ,senate a 
report on the recommendations made by   
the task force established pursuant to  
subsection 7a74  #e4                    
,counterintelligence training and       
vetting  7a7 ,in general ,not later than
 #ahj days after the date of the        
enactment of this ,act1 in carrying out 
the program administered pursuant to    
section #ddb7;a77#d7 of the ,homeland   
,security ,act 7#f ,u4,s4,c4            
#beb7;a77#d771 the ,secretary of        
,homeland ,security shall develop a     
counterintelligence awareness training  
program and require participation in    
such program from appropriate faculty1  
as determined by the ,secretary in      
consultation with the ,homeland         
,security ,academic ,advisory ,council  
7established pursuant to section #hga of

 the ,homeland ,security ,act of #bjjb  
7#f ,u4,s4,c4 #dea771 from approved     
institutions of higher education1 other 
approved educational institutions1 and  
designated exchange visitor programs in 
the ,united ,states4  7b7 ,program      
enhancements ,not later than one year   
after the date of enactment of this     
,act1 the ,secretary of ,homeland       
,security shall make the following      
enhancements to the program administered
 pursuant to section #ddb7;a77#d7 of the
 ,homeland ,security ,act 7#f ,u4,s4,c4 
#beb7;a77#d773 7#a7 ,identify degrees   
and fields of study determined to be    
sensitive for homeland security and     
counterintelligence purposes4  7#b7     
,update the information to be collected 
to include any changes to the degree    
programs1 if applicable1 and fields of  
study4  7#c7 ,make any other            
enhancements determined appropriate by  
the ,secretary to improve               
counterintelligence vetting             
capabilities4  7c7 ,consultation ,in    

carrying out the identification required
 pursuant to subsection 7b77#a71 the    
,secretary of ,homeland ,security shall 
consult with the ,secretary of ,state to
 ensure the degrees and field of study  
determined to be sensitive for homeland 
security and counterintelligence        
purposes referred to in such subsection 
are aligned1 to the greatest extent     
practicable1 between the ,department of 
,homeland ,security and the ,department 
of ,state4  7d7 ,definitions  7#a7      
,approved institution of higher         
education ,the term approved institution
 of higher education has the meaning    
given such term in section #fda7;h7 of  
the ,illegal ,immigration ,reform and   
,immigrant ,responsibility ,act of #aiif
 7#h ,u4,s4,c4 #acgb74  7#b7 ,designated
 exchange visitor program ,the term     
designated exchange visitor program has 
the meaning given such term in section  
#fda7;h7 of the ,illegal ,immigration   
,reform and ,immigrant ,responsibility  
,act of #aiif 7#h ,u4,s4,c4 #acgb74     

7#c7 ,other approved educational        
institution ,the term other approved    
educational institution has the meaning 
given such term in section #fda7;h7 of  
the ,illegal ,immigration ,reform and   
,immigrant ,responsibility ,act of #aiif
 7#h ,u4,s4,c4 #acgb74  #f4 ,homeland   
,security ,academic ,advisory ,council  
7a7 ,in general ,not later than #cj days
 after the date of the enactment of this
 ,act1 the ,secretary of ,homeland      
,security shall convene a meeting of the
 ,homeland ,security ,academic ,advisory
 ,council to seek advice and            
recommendations from the ,council on the
 counterintelligence awareness training 
and appropriate faculty designated to   
receive such training required under    
section #e4  7b7 ,notification ,not     
later than ,september #a1 #bjbj1 the    
,secretary of ,homeland ,security shall 
notify the ,committee on ,homeland      
,security of the ,house of              
,representatives and the ,committee on  
,homeland ,security and ,governmental   

,affairs of the ,senate if the          
,secretary determines to not extend the 
existence of the ,homeland ,security    
,academic ,advisory ,council4