,,ii #aaith ,,congress #ast ,session ,s4 #bifj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,october #a1 #bjbe,mr4 ,risch introduced the following bill2 which was read twice and referred to the ,committee on ,foreign ,relations ,a ,,bill ,to develop economic tools to deter aggression by the ,people's ,republic of ,china against ,taiwan4 #a4 ,short title ,this ,act may be cited as the ,deter ,,prc ,aggression ,against ,taiwan ,act4 #b4 ,sense of ,congress ,it is the sense of ,congress that the ,united ,states must be prepared to take immediate action to impose sanctions with respect to any military or non-military entities owned1 controlled1 or acting at the direction of the ,government of the ,,prc or the ,chinese ,communist ,party that are supporting actions by the ,government of the ,,prc or by the ,chinese ,communist ,party-- 7#a7 to overthrow or dismantle the governing institutions in ,taiwan2 7#b7 to occupy any territory controlled or administered by ,taiwan2 7#c7 to violate the territorial integrity of ,taiwan2 or 7#d7 to take significant action against ,taiwan1 including-- 7,a7 conducting a naval blockade of ,taiwan2 7,b7 seizing any outlying island of ,taiwan2 or 7,c7 perpetrating a significant physical or cyber attack on ,taiwan that erodes the ability of the governing institutions in ,taiwan to operate or provide essential services to the citizens of ,taiwan4 #c4 ,definitions ,in this ,act3 7#a7 ,appropriate congressional committees ,the term appropriate congressional committees means-- 7,a7 the ,committee on ,foreign ,relations of the ,senate2 7,b7 the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7,c7 the ,committee on ,commerce1 ,science1 and ,transportation of the ,senate2 7,d7 the ,committee on ,finance of the ,senate2 7,e7 the ,committee on ,foreign ,affairs of the ,house of ,representatives2 7,f7 the ,committee on ,financial ,services of the ,house of ,representatives2 7,g7 the ,committee on ,energy and ,commerce of the ,house of ,representatives2 and 7,h7 the ,committee on ,ways and ,means of the ,house of ,representatives4 7#b7 ,,prc ,the term ,,prc means the ,people's ,republic of ,china4 7#c7 ,,prc sanctions task force2 task force ,the terms ,,prc ,sanctions ,task ,force and ,task ,force mean the task force established pursuant to section #d4 #d4 ,,prc ,sanctions ,task ,force 7a7 ,establishment ,not later than #ahj days after the date of the enactment of this ,act1 the ,coordinator for ,sanctions of the ,department of ,state and the ,director of the ,office of ,foreign ,assets ,control of the ,department of the ,treasury1 in coordination with the ,director of ,national ,intelligence and the heads of other ,federal agencies1 as appropriate1 shall establish an interagency task force to identify military and non-military entities that could be subject to sanctions or other economic actions imposed by the ,united ,states immediately following any action taken by the ,,prc that demonstrates an attempt to achieve1 or has the significant effect of achieving1 the physical or political control of ,taiwan1 including by taking any of the actions described in paragraphs 7#a7 through 7#d7 of section #b4 7b7 ,strategy ,not later than #ahj days after the establishment of the ,,prc ,sanctions ,task ,force1 the ,task ,force shall provide a briefing to the appropriate congressional committees for identifying proposed targets for sanctions or other economic actions referred to in subsection 7a71 which shall-- 7#a7 assess how existing sanctions programs could be used to impose sanctions with respect to entities identified by the ,task ,force2 7#b7 develop or propose1 as appropriate1 new sanctions authorities that might be required to impose sanctions with respect to such entities2 7#c7 analyze the potential economic consequences to the ,united ,states1 and to allies and partners of the ,united ,states1 of imposing various types of such sanctions with respect to such entities2 7#d7 assess measures that could be taken to mitigate the consequences referred to in paragraph 7#c71 including through the use of licenses1 exemptions1 carve-outs1 and other approaches2 7#e7 include coordination with allies and partners of the ,united ,states-- 7,a7 to leverage sanctions and other economic tools including actions targeting the ,,prc's financial and industrial sectors to deter or respond to aggression against ,taiwan2 7,b7 to identify and resolve potential impediments to coordinating sanctions-related efforts or other economic actions with respect to responding to or deterring aggression against ,taiwan2 7,c7 to identify industries1 sectors1 or goods and services where the ,united ,states and allies and partners of the ,united ,states can take coordinated action through sanctions or other economic tools that will have a significant negative impact on the economy of the ,,prc2 and 7,d7 to coordinate actions with partners and allies to provide economic support to ,taiwan and other countries being threatened by the ,,prc1 including measures to counter economic coercion by the ,,prc2 7#f7 assess the resource gaps and needs at the ,department of ,state1 the ,department of the ,treasury1 the ,department of ,commerce1 the ,united ,states ,trade ,representative1 and other ,federal agencies1 as appropriate1 to most effectively use sanctions and other economic tools to respond to the threats posed by the ,,prc2 7#g7 recommend how best to target sanctions and other economic tools against individuals1 entities1 and economic sectors in the ,,prc1 which shall take into account-- 7,a7 the role of such targets in supporting policies and activities of the ,government of the ,,prc1 or of the ,chinese ,communist ,party1 that pose a threat to the national security or foreign policy interests of the ,united ,states2 7,b7 the negative economic implications of such sanctions and tools for the ,government of the ,,prc1 including its ability to achieve its objectives with respect to ,taiwan2 and 7,c7 the potential impact of such sanctions and tools on the stability of the global financial system1 including with respect to-- 7i7 state-owned enterprises2 7ii7 officials of the ,government of the ,,prc and of the ,chinese ,communist ,party2 7iii7 financial institutions associated with the ,government of the ,,prc2 and 7iv7 companies in the ,,prc that are not formally designated by the ,government of the ,,prc as state-owned enterprises2 and 7#h7 identify any foreign military or non-military entities that would likely be used to achieve the outcomes specified in section #b1 including entities in the shipping1 logistics1 energy 7including oil and gas71 maritime1 aviation1 ground transportation1 and technology sectors4 #e4 ,annual report ,not later than #ahj days after the briefing required under section #d7;b71 and annually thereafter1 the ,,prc ,sanctions ,task ,force shall submit a classified report to the appropriate congressional committees that includes information regarding-- 7#a7 any entities identified pursuant to section #d7;b77#h72 7#b7 any new authorities required to impose sanctions with respect to such entities2 7#c7 potential economic impacts on the ,,prc1 the ,united ,states1 and allies and partners of the ,united ,states resulting from the imposition of sanctions with respect to such entities2 7#d7 mitigation measures that could be employed to limit any deleterious economic impacts on the ,united ,states and allies and partners of the ,united ,states of such sanctions2 7#e7 the status of coordination with allies and partners of the ,united ,states regarding sanctions and other economic tools identified under this ,act2 7#f7 resource gaps and recommendations to enable the ,department of ,state and the ,department of the ,treasury to use sanctions to more effectively respond to the malign activities of the ,government of the ,,prc2 and 7#g7 any additional resources that may be necessary to carry out the strategies and recommendations included in the report submitted pursuant to section #d7;b74