|Sponsor||Rep. Smith, Lamar|
|Date||December 30, 2012 (112th Congress, 2nd Session)|
|Staff Contact||Kimberly Betz|
On Sunday, December 30, 2012, the House is scheduled to consider the Senate Amendment to H.R. 6029, the Foreign and Economic Espionage Penalty Enhancement Act of 2012. The House passed H.R. 6029 by voice vote on August 1, 2012. The Senate passed the bill as amended on December 17, 2012 by unanimous consent.
H.R. 6029 amends Sec. 1831(a) of title 18 to increase the maximum penalties for the theft of trade secrets by criminals who knowingly commit economic espionage to benefit a foreign entity for individuals to $5,000,000 and $10,000,000 for organizations.
The Senate amendment maintains the increased monetary fine for individuals and organizations, but maintains the maximum prison sentence of 15 years and directs the United States Sentencing Commission to, within 180 days of enactment, review and, if appropriate, amend the Federal sentencing guidelines and policy statements applicable to persons convicted under this title.
According to the Committee on the Judiciary, by strengthening penalties and enhancing criminal deterrence, the bill would protect U.S. jobs and technologies while promoting investments and innovation. When enacted, H.R. 6029 would advance the economic and national security interests of the United States.
According to CBO, based on information provided by the USSC, implementing H.R. 6029 would have no significant impact on the Federal budget.
Because those prosecuted and convicted under H.R. 6029 could be subject to criminal fines, the Federal Government might collect additional fines if the legislation is enacted. Criminal fines are recorded as revenues, deposited in the Crime Victims Fund, and later spent. CBO expects that any additional revenues and direct spending would not be significant because of the small number of cases likely affected.