119-s1358

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1358 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1358

To require the Securities and Exchange Commission to require reporting 
of sourcing and due diligence activities of companies involving supply 
 chains of products that are imported into the United States that are 
 directly linked to products utilizing forced labor from Xinjiang, 
 China, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 April 8, 2025

 Mr. Scott of Florida (for himself, Mrs. Blackburn, and Mr. Cassidy) 
introduced the following bill; which was read twice and referred to the 
 Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

 A BILL

To require the Securities and Exchange Commission to require reporting 
of sourcing and due diligence activities of companies involving supply 
 chains of products that are imported into the United States that are 
 directly linked to products utilizing forced labor from Xinjiang, 
 China, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Transaction and Sourcing Knowledge 
Act'' or the ``TASK Act''.

SEC. 2. SEC REPORTING.

 The Securities and Exchange Commission, as part of its evaluation 
of potential guidance on reporting on environmental, social, and 
governance matters by publicly traded companies, shall require 
reporting of--

    (1) sourcing and due diligence activities of such companies 
 involving supply chains of products that are imported into the 
 United States that are directly linked to products utilizing 
 forced labor from Xinjiang, China;

    (2) transactions with companies that have been--
        (A) placed on the Entity List by the Department of 
 Commerce; or
        (B) designated by the Department of the Treasury as 
 Chinese Military-Industrial Complex Companies; and

    (3) with respect to publicly traded United States companies 
 with facilities in China, on an annual basis--
        (A) whether there is a Chinese Communist Party 
 committee in the operations of the company; and
        (B) a summary of the actions and corporate 
 decisions in which any committee described in 
 subparagraph
        (A) may have participated.
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