Protect America’s Innovation and Economic Security from CCP Act of 2024
What changed between versions
The entire steering committee structure was eliminated. Previously the Initiative was led by a committee including the AAG for National Security, senior FBI officials, the AAG for Criminal Division, the Executive Assistant Director of the NS Branch of FBI, and five US attorneys from districts with the most espionage cases.
New objective added requiring investigation of investments made by Chinese companies on the Bureau of Industry and Security Entity List or the DoD PRC Military Companies list, with reporting to the Secretaries of Commerce and Defense on findings including subsidiaries or controlled entities.
New priority added to identify CCP theft of intellectual property specifically from small businesses.
New objective added to implement FIRRMA for DOJ, including working with Treasury to develop regulations under that Act.
New objective added to identify Foreign Corrupt Practices Act cases involving Chinese companies that compete with US businesses.
Removed goals about educating colleges and universities about threats to academic freedom, applying FARA to unregistered agents advancing PRC political agenda, identifying supply chain threats especially in telecommunications/5G, improving Chinese responses to Mutual Legal Assistance Agreement requests, and evaluating whether additional legislative authorities are needed.
A new consultation provision requires the Attorney General, acting through the AAG for National Security, to consult with relevant DOJ components and coordinate with the FBI and other federal agencies when executing the Initiative's objectives.
Removed the requirement that all investigations and prosecutions under the Initiative be set as priority and not based on discretion.
The annual briefing to congressional committees was replaced with a written annual report containing eight specific required elements, including analysis of CCP use of unmanned aircraft and associated components, assessment of economic loss from CCP hacking and trade secret theft, and evaluation of the Initiative's impact on CCP efforts.
The short title was updated to include 'of 2024' and the sunset provision wording was slightly revised but retains the same 6-year duration.
