Holding Foreign Companies Accountable Act
Public Law 116-222 · S. 945 · 116th Congress · began in the Senate
Signed by Donald Trump (R) on Dec 18, 2020 · Finance and Financial Sector
Sponsor: Sen. John Kennedy (R-LA)
Cosponsors (4): Sen. Chris Van Hollen, Sen. Kevin Cramer,
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Holding Foreign Companies Accountable Act
This bill requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange or through other methods.
Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year
• the percentage of shares owned by governmental entities where the issuer is incorporated,
• whether these governmental entities have a controlling financial interest,
• information related to any board members who are officials of the Chinese Communist Party, and
• whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
2 bills the Library of Congress relates to this one.
H.R. 7000Identical bill
Holding Foreign Companies Accountable Act
S. 4629Related bill
America LEADS Act
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 19 actions.
- Dec 18, 2020Became lawBecame law · Became Public Law No: 116-222.
- Became lawBecame law · Signed by President.
- Dec 8, 2020FloorFloor · Presented to President.
- Dec 2, 2020FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill Agreed to by voice vote.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on S. 945.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mr. Clay moved to suspend the rules and pass the bill.
- May 22, 2020FloorFloor · Held at the desk.
- FloorFloor · Received in the House.
- FloorFloor · Message on Senate action sent to the House.
- May 20, 2020FloorFloor · Passed Senate with an amendment by Unanimous Consent.
- FloorFloor · Measure laid before Senate by unanimous consent.
- CommitteeCommittee · Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
- Dec 10, 2019CommitteeCommittee · Committee on Banking, Housing, and Urban Affairs. Hearings held.
- CommitteeCommittee · Hearings by Senate Banking, Housing, and Urban Affairs Committee
- Jun 4, 2019CommitteeCommittee · Committee on Banking, Housing, and Urban Affairs. Hearings held.
- Mar 28, 2019CommitteeCommittee · Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- IntroducedIntroduced · Introduced in Senate
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
1 amendment offered to the bill, with the last recorded step of each.
- Agreed to
S.Amdt. 1589SenateSen. John KennedyR-LA· offered May 20, 2020Agreed to
In the nature of a substitute.
May 20, 2020: Amendment SA 1589 agreed to in Senate by Unanimous Consent.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.