The STAND with Taiwan Act of 2024 outlines various measures, including imposing sanctions on officials and financial institutions associated with China, as well as prohibiting certain financial activities and investments involving Chinese entities. It also includes restrictions on energy exports to China and the suspension of normal trade relations, with provisions for exceptions and penalties.

Congress outlines several findings about Taiwan, highlighting its democratic values and the importance of U.S. policy guided by historical agreements. The findings also discuss the growing military tension between Taiwan and China, China's military exercises, and threats against Taiwan. Additionally, comparisons are made to the Russian invasion of Ukraine, emphasizing the geopolitical implications and the importance of economic measures as deterrence.

The Sense of Congress section states that the United States considers it crucial to keep the Indo-Pacific region, particularly the Taiwan Strait, free and peaceful. It expresses concern over China's threats or forceful actions towards Taiwan, which clash with the Taiwan Relations Act and endanger regional stability. Additionally, it warns that any military invasion of Taiwan by China would threaten global peace and result in severe economic consequences for China.

The section outlines the United States' policy to respond to a military invasion of Taiwan by China's People's Liberation Army with economic measures and sanctions. It includes actions such as imposing sanctions on Chinese leaders and entities, restricting Chinese businesses from U.S. securities markets, prohibiting investments in certain sectors, and coordinating with allies to take similar steps.

This section of the bill provides definitions for key terms, including types of financial accounts, legal terms related to immigration, and committees within Congress. It defines what constitutes a military invasion of Taiwan and outlines who is considered a foreign person and a United States person.

The section describes the U.S. President's responsibility to impose sanctions on certain officials of the Chinese government and Communist Party if they are involved in military actions against Taiwan or other specified activities. These sanctions include blocking property in the U.S. and making the officials ineligible for U.S. visas.

The section requires the Secretary of the Treasury to impose sanctions on financial institutions connected to the Chinese government, specifically targeting the People's Bank of China and state-owned banks, using powers under the International Emergency Economic Powers Act to block transactions and restrict account activities. State-owned banks include several major banks, such as the Export-Import Bank of China and the China Construction Bank, among others.

The section mandates that within three days of a relevant decision, the Secretary of the Treasury must impose sanctions on any entity owned by or linked to the Chinese government or Communist Party. The sanctions involve blocking property in the U.S. related to those entities using presidential powers and do not require a national emergency declaration.

In Section 9 of the bill, it states that banks or financial institutions generally cannot transfer funds to or from China or for the benefit of Chinese officials or Communist Party members. However, there is an exception if the transaction is part of an authorized and necessary underlying deal and doesn't involve changing a Chinese account balance.

The section states that the Securities and Exchange Commission must stop the trading of any company tied to the Chinese government or the Chinese Communist Party on U.S. national securities exchanges, starting three days after it is identified as such. Definitions are provided for terms like "issuer," "security," and "national securities exchange," as per the Securities Exchange Act of 1934.

United States financial institutions are prohibited from investing in entities tied to the Chinese government or military and in specific industries highlighted in China's strategic plans, like technology and green energy. This applies to any U.S.-based financial company, including investment firms and hedge funds.

The section prohibits any exports, reexports, or transfers of energy or energy products from the United States to China starting three days after a certain decision is made. It also bans United States persons from investing in China's energy sector from the same date.

If a specific decision is made, the United States will stop treating products from China with normal trade benefits three days after that decision.

The section outlines exceptions to the Act by stating that it does not apply to certain intelligence activities of the United States and allows the President to waive sanctions for someone if it's deemed beneficial for national security, provided they notify Congress about the decision and reasons.

The section gives the President the power to use certain authorities to enforce the Act and imposes penalties on anyone who violates the Act, similar to those under the International Emergency Economic Powers Act.