S. 2125: Prying Into Chinese Tyrants' Unreported Riches, Earnings, and Secrets Act

The bill titled the "Prying Into Chinese Tyrants' Unreported Riches, Earnings, and Secrets Act" or "PICTURES Act" aims to require a comprehensive report on the wealth and financial interests of the leadership of the Chinese Communist Party (CCP). It is motivated by concerns about the opacity of the CCP and the significant control that its leaders have over various aspects of Chinese society, including economic, military, and political affairs.

Key Findings

The bill presents several findings noting that:

• The CCP is an authoritarian regime where power is concentrated among a small group of officials.
• Members of the CCP leadership have accumulated significant wealth, often obscured through complex financial structures and foreign investments.
• Previous reports have indicated substantial wealth among CCP leaders, highlighting the need for further investigation into their assets.
• Understanding the personal wealth of these leaders is seen as critical for informing U.S. foreign policy and national security decisions.

Congressional Intent

The bill expresses Congress's belief that:

• The effectiveness of intelligence on CCP leadership wealth relies on the cooperation of the U.S. intelligence community.
• Nonpublic information must be accessible to support thorough assessments, while still protecting intelligence sources and methods.

Required Report

The bill mandates that, within 180 days of its enactment, and again after the appointment of a new Central Committee within the CCP, the Director of National Intelligence (DNI) must publish a report that includes:

• A detailed evaluation of the personal wealth and financial activities of key CCP leaders and their immediate families, focusing on:
• The General Secretary of the CCP.
• Members of the Politburo Standing Committee.
• Members of the full Politburo.
• Provincial-level Party Secretaries.
• Members of the Central Military Commission.
• Evidence, including photographs, of their financial and physical assets, such as:
• Real estate holdings in China and abroad.
• High-value personal properties like yachts and luxury cars.
• Investments and financial accounts located in foreign countries.
• Identification of any proxies or business associates used to conceal ownership of these assets.
• An assessment of the intelligence community's cooperation in producing the report.
• Utilization of nonpublic intelligence data, while adhering to protective measures for sensitive sources.

Format of Report

The final report must be unclassified but may contain a classified annex submitted to Congress if necessary.

Definitions

The bill includes a definition section that clarifies what the "intelligence community" means according to established federal law.

Relevant Companies

None found