US SB1685

Secretary of the Treasury must instruct U.S. Executive Directors at international financial institutions to oppose loans for 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 each project for forced labor risks and what actions were taken to mitigate those risks

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

Secretary of the Treasury must submit annual reports to Congress for 6 years detailing approved projects where forced labor could be used and U.S. efforts to convince other countries to oppose such projects

Reports must be submitted to House Financial Services, House Foreign Affairs, Senate Foreign Relations, and Senate Banking committees, with public availability required