DITCH Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R HawleySponsor

No cosponsors.

Dump Investments in Troublesome Communist Holdings Act or the DITCH Act

What it does: CRS summary · Introduced in Senate · Dec 1, 2022

Dump Investments in Troublesome Communist Holdings Act or the DITCH Act

This bill denies an organization a tax exemption if it holds any interest in a disqualified Chinese company or fails to timely transmit required annual reports. A disqualified Chinese company is any corporation incorporated in China, or that invests more than 10% of its stock in certain Chinese entities, including entities controlled by the Chinese Communist Party.

The Department of the Treasury may grant organizations a waiver of the denial of the tax exemption under specified circumstances.

Organizations that hold any interest in a disqualified Chinese company must file annual reports describing each interest held in the company, the period during which such interest was held, and whether the organization has been granted a waiver.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: DITCH Act

Also known as: Dump Investments in Troublesome Communist Holdings Act

Latest action (Dec 1, 2022): Read twice and referred to the Committee on Finance.

Policy area: Taxation · Origin: Senate · Introduced: Dec 1, 2022

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.