US HB7516

Secretary of the Treasury must instruct U.S. Executive Directors at international financial institutions to oppose loans to projects that pose significant risk of using forced labor or are carried out by state-owned entities in China's Xinjiang Uyghur Autonomous Region

International financial institutions must provide project-specific explanations of how they vetted for forced labor risks and actions taken to mitigate, track, and reverse those risks

"Forced labor" is defined per Section 307 of the Tariff Act of 1930 and includes convict labor and indentured labor under penal sanctions

Secretary of the Treasury must submit annual reports for 6 years to House Financial Services, House Foreign Affairs, Senate Foreign Relations, and Senate Banking committees detailing projects where forced labor could be used and U.S. efforts to convince other countries to oppose such projects

Reports must be made publicly available, with unclassified versions if necessary