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Problematic Foreign Ownership Bill:
Representative John Ragan (R-Oak Ridge) put forth legislation that would have sweeping ramifications for companies with global operations and supply chains. SB2859/HB1841 would bar companies that have contracted with any company based in China, Russia, Iran, North Korea, Cuba, Venezuela, or Syria in the past five years from bidding on state contracts, as well as those with ownership based in any of those countries. If the goal of the bill is to ensure the security of Tennessee’s procurement process, the current language is overly broad, as many American and other globally based companies that source components and make sales across the globe are likely to be implicated.
After meeting with the Tennessee Chamber and other stakeholders, Representative Ragan agreed to roll the bill to allow time to work on amendment language that is narrower and targets truly actual bad actors without barring companies that present no security concerns from bidding on state contracts.
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