US HB6989 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on May 22 2020 - 25% progression, died in committee
Action: 2020-05-22 - Referred to the House Committee on the Judiciary.
Pending: House Judiciary Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 22 2020 - 25% progression, died in committee
Action: 2020-05-22 - Referred to the House Committee on the Judiciary.
Pending: House Judiciary Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Places a moratorium on certain mergers and acquisitions during the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, the bill prohibits certain transactions such as acquisitions (1) by firms with over $100 million in revenue; (2) by financial institutions or equity funds with over $100 million in capitalization; and (3) involving firms with exclusive patents pertaining to COVID-19 pandemic-related production, manufacturing, distribution, or infrastructure. However, a waiver may be granted if the participating firms demonstrate that the transaction will advance critical national security, economic, or public health interests during the emergency. Further, the bill establishes a legal presumption against a transaction that may pose a risk to the government's ability to respond to the national emergency declared due to COVID-19.
Title
Pandemic Anti-Monopoly Act of 2020
Sponsors
Rep. Alexandria Ocasio-Cortez [D-NY] | Rep. Jesus Garcia [D-IL] | Rep. Ilhan Omar [D-MN] |
History
Date | Chamber | Action |
---|---|---|
2020-05-22 | House | Referred to the House Committee on the Judiciary. |
2020-05-22 | House | Introduced in House |
Same As/Similar To
SB4013 (Related) 2020-06-18 - Read twice and referred to the Committee on Commerce, Science, and Transportation.
Subjects
Administrative law and regulatory procedures
Administrative remedies
Banking and financial institutions regulation
Cardiovascular and respiratory health
Civil actions and liability
Commerce
Competition and antitrust
Corporate finance and management
Drug safety, medical device, and laboratory regulation
Emergency medical services and trauma care
Federal Trade Commission (FTC)
Financial services and investments
Health technology, devices, supplies
Infectious and parasitic diseases
Intellectual property
Manufacturing
Product development and innovation
Public contracts and procurement
Research and development
Strategic materials and reserves
Administrative remedies
Banking and financial institutions regulation
Cardiovascular and respiratory health
Civil actions and liability
Commerce
Competition and antitrust
Corporate finance and management
Drug safety, medical device, and laboratory regulation
Emergency medical services and trauma care
Federal Trade Commission (FTC)
Financial services and investments
Health technology, devices, supplies
Infectious and parasitic diseases
Intellectual property
Manufacturing
Product development and innovation
Public contracts and procurement
Research and development
Strategic materials and reserves
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6989/all-info |
Text | https://www.congress.gov/116/bills/hr6989/BILLS-116hr6989ih.pdf |