No Chinese Communist SURPRISE Parties Act

This bill requires certain publicly traded companies (called "covered issuers") to disclose in their annual SEC filings whether they or their subsidiaries/joint ventures have Chinese Communist Party (CCP) organizations operating within them. It mandates specific disclosures about any CCP involvement in company operations and whether the board of directors owes fiduciary duties to shareholders under applicable law. The reporting obligation begins with the second annual report filed after the bill's enactment, applying to companies required to submit reports under the Securities Exchange Act of 1934. The bill does not ban CCP activities but imposes new transparency requirements for affected companies.