H.R. 4617 — American Investment Accountability Act

This section defines terms for its reporting requirements, including “country of concern” (i.e., foreign adversaries such as the People’s Republic of China, Russia, Iran, North Korea, Cuba, and Venezuela); “covered United States business” (i.e., a U.S.-organized entity or one with at least 25% U.S. ownership that is not a small business concern, as defined in 15 U.S.C. 632); “covered entity” (i.e., entities headquartered in, controlled by, or otherwise linked to a country of concern or sanctions-listed parties); “offshore financial center” (i.e., jurisdictions facilitating over $100 million in annual U.S. direct investments or $500 million in portfolio investments into countries of concern or covered entities); and others. It requires the Secretary of Commerce, not later than one year after enactment and every 90 days thereafter, to submit to specified congressional committees (i.e., 10 designated Senate and House committees) a report identifying the value of direct investments by U.S. persons in countries of concern for the period specified in subsection (e), disaggregated by sector and by the state in which the investment originated.