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ANTI-SOCIAL CCP Act

Source: Congress.gov  ·  1,776 words in original text
This bill directs the President to block and prohibit business transactions involving social media companies controlled by certain foreign countries. The bill aims to protect Americans from surveillance, data gathering, and propaganda campaigns by these foreign-controlled companies. ##
Social media companies controlled by countries of concern (including China, Russia, Iran, North Korea, Cuba, and Venezuela), the President, any person or business conducting transactions with these companies, and Americans who use these platforms. ##
- The President must block all transactions in property and interests in property of covered social media companies within 30 days of the bill becoming law, whether the property is in the United States or under control of a U.S. person. (Sec. 2(a)(1)) - Social media companies meet the bill's definition if they are domiciled in or organized under the laws of a country of concern, or if a country of concern owns or controls 20 percent or more of the company's voting stock. (Sec. 2(b)(1)(A) and (B)) - ByteDance, Ltd. and TikTok are automatically considered covered companies unless the President certifies to Congress that they no longer meet any conditions in the bill. (Sec. 2(b)(2)) - People who violate the transaction prohibition face penalties under the International Emergency Economic Powers Act. (Sec. 2(d)(2)) - The bill does not apply to importation of goods or authorized intelligence activities of the United States. (Sec. 2(c)) ##
If this bill becomes law, social media companies controlled by certain foreign adversaries will be prohibited from conducting business in the United States or with U.S. persons. Anyone attempting to conduct transactions with these companies may face legal penalties. Specifically, ByteDance and TikTok will be immediately prohibited from operating in the United States unless the President certifies they no longer meet the bill's conditions. ##
- **Country of Concern**: The People's Republic of China (including Hong Kong and Macau), Russia, Iran, North Korea, Cuba, and Venezuela, plus any other country defined as a "foreign adversary" in another law. - **Entity of Concern**: Government bodies, armed forces, leading political parties, or certain individuals or businesses in countries of concern that are subject to substantial influence from those countries. - **Social Media Company**: Any website, desktop application, or mobile application where people create accounts to generate and share user-generated content, sells digital advertising space, has more than 1 million monthly active users, and lets users view content from other users. Does not include sites whose main purpose is product reviews, business reviews, travel reviews, or emergency alerts. ##
30 days after the bill becomes law (Sec. 2(a)(1))
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.