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HR 6270 - Uyghur Forced Labor Disclosure Act of 2020 - National Key Vote

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Title: Uyghur Forced Labor Disclosure Act of 2020

Vote Smart's Synopsis:

Vote to pass a bill that requires issuers of securities to publicly disclose their activities in China's Xinjiang Uyghur Autonomous Region, specifically including the importation of manufactured goods and materials that originated or are sourced from that region.

Highlights:

 

  • Requires the Congressional-Executive Commission on China to issue rules to require each issuer of securities to disclose whether (Sec. 3):

    • The issuer or any affiliates directly or indirectly engaged with an entity to import:

      • Manufactured goods, including electronics, food products, textiles, shoes, and teas that originated in the Xinjiang Uyghur Autonomous Region (XUAR); or

      • Manufactured goods containing materials that originated or are sourced in the XUAR;

    • With respect to any goods or materials described above, whether the goods or material originated in forced labor camps; and

    • With respect to each manufactured good or material described above:

      • The nature and extent of the commercial activity related to such good or material;

      • The gross revenue and net profits attributable to the good or material; and

      • Whether the issuer or affiliate intends to continue with such importation.

  • Requires the report to be made available to the public on the website of the Commission (Sec. 3).

  • Requires the Commission to conduct an annual assessment of the compliance to requirements of this bill and to issue a report to Congress containing the results of the assessment (Sec. 3).

  • Defines a “forced labor camp” as (Sec. 3):

    • Any entity engaged in the “mutual pairing assistance” program which subsidizes the establishment of manufacturing facilities in the XUAR;

    • Any entity using convict labor, forced labor, or indentured labor; and

    • Any other entity that the Commission determines is appropriate.

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