Referred to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill prohibits U.S. companies deemed "integral to national interests" from complying with foreign sustainability regulations, particularly the European Union's Corporate Sustainability Due Diligence Directive. Companies affected include those in extractive industries (mining, fossil fuels, agriculture, timber), manufacturing, defense, and critical mineral production that derive at least 25 percent of revenue from these sectors, as well as any firm the President designates as nationally important. The law allows exceptions only for compliance with U.S. law or ordinary business activities, and companies facing hardship can petition the President for exemptions within a 30-day review period. The bill authorizes the President to take action to protect affected companies and establishes civil enforcement mechanisms, including private lawsuits against those taking adverse actions, with penalties up to $1 million and potential loss of federal contracting eligibility for up to three years. No federal funding or specific timeline is specified in the legislation.
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