Bill Seeks Parity Between 1260H, NS-CMIC Lists
Rep. Scott Perry, R-Pa., and Sen. Rick Scott, R-Fla., introduced a bill Jan. 14 that would require entities on the Defense Department’s 1260H List of Chinese military companies to also be included on the Treasury Department’s Non-SDN Chinese Military-Industrial Complex Companies (NS-CMIC) List to bar them from accessing U.S. capital markets.
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Companies on the 1260H List will be ineligible to receive new contracts from DOD starting June 30, so it makes sense to add them to the NS-CMIC List as well, according to a Perry press release. "Allowing these companies to benefit from American capital runs counter to American interests," the release says. "This critical legislation aligns the two lists, strengthening our sanctions regime."
The Divesting from Communist China’s Military Act was referred to the House Foreign Affairs and Financial Services committees and the Senate Banking Committee.