The CEASE Act authorizes the President to impose sanctions against foreign persons and companies that engage in significant transactions with or provide material support to Chinese military or intelligence facilities operating in Cuba. The bill specifically targets foreign individuals and entities dealing with Chinese military and intelligence operations that intelligence reports indicate have been active in Cuba since at least 2019. Sanctions would include freezing assets in the United States and denying visas to foreign nationals involved in such dealings. The President may waive sanctions if deemed necessary for national security and must report to Congress on such waivers, while the sanctions would automatically terminate if Cuba dismantles Chinese military and intelligence facilities on its territory. The bill requires the State Department to submit reports within 90 days and annually thereafter detailing Chinese military and intelligence activities in Cuba, and the Treasury Department to report every 90 days on any licenses authorizing transactions with sanctioned persons.