Bills · S 1488
IN COMMITTEE· 119TH CONGRESS
Senate BillS 1488International Affairs
Sovereign Wealth Fund Transparency Act
INTRO APR 10· LAST ACTION APR 10
READING
31MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
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- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to increase transparency regarding foreign influence in the United States. Currently, foreign governments can try to influence U.S. policy and public opinion through various channels, sometimes disguised as purely commercial activities.
If this bill becomes law, it would make it more difficult for foreign state-owned entities, like sovereign wealth funds, to operate in the U.S. without disclosing their ties to a foreign government. This increased transparency could help Americans understand who is behind certain lobbying efforts, public relations campaigns, or investment activities, potentially reducing hidden foreign influence. If it doesn't become law, the existing loopholes and enforcement challenges in FARA would likely continue, leaving potential avenues for undisclosed foreign influence in the U.S. political and economic landscape.
KEY PROVISIONS
3AI-extractedPROVISION 01
The bill clarifies that exemptions for commercial activities under FARA do not apply to agents of foreign governments or political parties whose activities promote public or political interests, explicitly including activities on behalf of sovereign wealth funds.
This provision closes a potential loophole that foreign sovereign wealth funds might have used to avoid registering as foreign agents, enhancing transparency around foreign government influence.
PROVISION 02
It grants the Attorney General authority to issue civil investigative demands (CIDs) to gather information from individuals or entities suspected of FARA violations.
This significantly strengthens the Attorney General's ability to investigate and enforce FARA compliance by allowing them to compel the production of documents, answers to interrogatories, or oral testimony before initiating formal proceedings.
PROVISION 03
The bill establishes civil penalties for individuals or entities that fail to meet the registration requirements under FARA.
This creates a stronger deterrent against non-compliance and provides the Department of Justice with a direct punitive measure for FARA violations, beyond just seeking registration.
SPONSORSHIP
1 + 0
D· Connecticut
YRS IN OFFICE
15
BILLS LED
127
ACTION TIMELINE
2 EVENTSAPR 10
Introduced in Senate
APR 10
Read twice and referred to the Committee on Foreign Relations.
BILL INFO
TypeSenate Bill
NumberS 1488
Congress119th
StatusIn Committee
IntroducedApr 10, 2025
Last actionApr 10, 2025
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IN COMMITTEE· 119TH CONGRESS · FOREIGN RELATIONS COMMITTEE · INTRODUCED APR 10, 2025
Senate BillS 1488International Affairs
Sovereign Wealth Fund Transparency Act
INTRODUCED APR 10, 2025· LAST ACTION APR 10, 2025
PASSAGE CHANCES
—%
READING
31 min
COSPONSORS
0
COMPLEXITY
Moderate
