Uyghur Forced Labor Disclosure Act
Rep. Subramanyam Introduces Bill Requiring Companies to Disclose Forced Labor Links in China
This bill was recently introduced and is currently being reviewed by the House Committee on Financial Services. It is in the early stages of the legislative process and is considered active. There are no upcoming votes scheduled at this time.
Legislative Progress
This bill has support from some powerful leaders, but business groups often fight against new reporting rules that are expensive to follow.
Key Points
Impact Analysis
Personal Impact
Life & Work
Small publicly traded companies or those seeking to go public would face significant new compliance costs to map and verify their supply chains for any links to the Xinjiang region. They would need to hire SEC-approved third-party auditors and document every relevant supplier's name, address, and sourcing quantities. These requirements could be especially burdensome for smaller firms with limited compliance budgets.
“to obtain independent verification of the documentation described under paragraph (2), by a third-party auditor approved by the Commission, before the filing of an application, report, or registration statement containing such documentation”
Activities
Milestones
Sponsor introductory remarks on measure. (CR H3461)
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Uyghur Forced Labor Disclosure Act
Data Sources
Sponsor
Cosponsors
(13)Analysis generated by AI. Always verify with official sources.