US HB2246

Authorizes $150,000,000 to the Department of the Treasury for the first two fiscal years to implement sanctions and investment restrictions targeting the People's Republic of China, including Hong Kong and Macau

Empowers the President to impose IEEPA sanctions blocking property and transactions of "covered foreign persons" operating in China's defense, surveillance, or military-industrial sectors, with civil penalties up to $250,000 or twice the transaction value

Prohibits U.S. persons from knowingly engaging in investments involving "prohibited technologies" with Chinese entities, covering advanced semiconductors, AI systems trained with 10²⁵+ floating point operations, quantum computing, hypersonic systems, and certain supercomputers

Requires mandatory written notification within 30 days for U.S. investments in "notifiable technologies" including integrated circuit design/fabrication and AI systems intended for military, intelligence, or mass-surveillance purposes

Mandates U.S. persons divest securities of companies on the Non-SDN Chinese Military-Industrial Complex Companies List within 365 days of enactment, with the Secretary required to report biennially on which PRC entities qualify for list inclusion