US SB672

Establishes the CCP Initiative within the Department of Justice's National Security Division to counter Chinese Communist Party threats, including intellectual property theft, economic espionage, and spying on U.S. academic institutions and businesses

Requires the Initiative to develop enforcement strategies targeting "nontraditional collectors" such as researchers in labs, universities, and the defense industrial base who transfer technology contrary to U.S. interests

Mandates investigations of investments by Chinese companies on the Commerce Department's Entity List or identified by the Secretary of Defense as Chinese military companies operating in the United States

Requires annual reports to Congress on the Initiative's progress, resource sufficiency, coordination effectiveness, CCP financial intelligence capabilities, use of unmanned aircraft by the CCP, and economic losses from hacking and trade secret theft

Includes a 6-year sunset provision, requiring the Act to cease effect six years after enactment