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Protecting National Security Businesses from Chinese Takeovers

This act aims to protect American companies vital for national security, especially those weakened by the pandemic, from being acquired by entities linked to China. The government can provide financial guarantees to investors to help these businesses survive and maintain their strategic importance. This prevents the loss of critical technologies and production capabilities to foreign powers.
Key points
The government can cover up to 50% of investment costs in national security-critical businesses affected by COVID-19 and at risk of Chinese acquisition.
Funds for these guarantees, totaling $10 billion, will be redirected from existing pandemic relief funds.
If a business fails, investors may receive reimbursement for a limited period if the failure is related to COVID-19.
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Expired
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Additional Information
Print number: 117_HR_1130
Sponsor: Rep. Green, Mark E. [R-TN-7]
Process start date: 2021-02-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SOS ACT Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1130.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-18.

What are the main provisions?

Key points include:

  • The government can cover up to 50% of investment costs in national security-critical businesses affected by COVID-19 and at risk of Chinese acquisition.
  • Funds for these guarantees, totaling $10 billion, will be redirected from existing pandemic relief funds.
  • If a business fails, investors may receive reimbursement for a limited period if the failure is related to COVID-19.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Green, Mark E. [R-TN-7].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Security Public Investments