HR 1486 ยท Economic Espionage Prevention Act
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
- Introduced
- Feb 21, 2025
- Latest action
- May 6, 2025
- Sponsor
- Rep. Richard McCormick [R-GA-7]
- Policy area
- International Affairs
- Cosponsors
- 3
Summary
Economic Espionage Prevention Act This bill authorizes the President to impose visa- and property-blocking sanctions on foreign adversary entities that knowingly engage in (1) economic and industrial espionage with respect to trade secrets and proprietary information owned by U.S. persons, (2) the provision of material support or services to a foreign adversaries' national security entities, or (3) the violation of U.S. export control laws. The bill cites regulations that define China, Russia, Iran, North Korea, Cuba, and the Maduro regime of Venezuela as foreign adversaries. The bill also limits certain exemptions from the President's authority under the International Emergency Economic Powers Act (IEEPA). IEEPA provides the President broad authority to regulate a variety of economic transactions following a declaration of national emergency, but exempts from this authority activities such as (1) the import or export of information or informational materials; (2) transactions ordinarily incident to international travel, such as the importation of personal baggage; and (3) personal communications, such as postal or telephonic communications, that do not transfer anything of value. Under the bill, the first two of these exemptions are not applicable if the President determines such imports and exports would seriously impair the ability to deal with a declared national emergency. Additionally, the bill specifies that the first and third exemptions listed above do not apply to bulk sensitive personal data or source code used in a connected software application.
Recent actions
- May 6, 2025 Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
- May 5, 2025 Motion to reconsider laid on the table Agreed to without objection.
- May 5, 2025 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1828-1829)
- May 5, 2025 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1828-1829: 1)
- May 5, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 1486.
- May 5, 2025 Considered under suspension of the rules. (consideration: CR H1828-1830)
- May 5, 2025 Mr. Mast moved to suspend the rules and pass the bill, as amended.
- Feb 21, 2025 Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Votes
No recorded votes are available for this bill.