1. Short title This Act may be cited as the Protecting American Capital Act of 2023 . 2. Annual report on United States portfolio investments in the People's Republic of China (a) In general Not later than one year after the date of the enactment of this Act, and annually thereafter, the Secretary of the Treasury shall submit to Congress a report on portfolio investments by United States persons in the People's Republic of China, including such investments routed through a jurisdiction outside the United States. (b) Elements Each report required by subsection (a) shall include an assessment of the involvement of the following in portfolio investments in the People's Republic of China: (1) United States persons making such investments, including an assessment of— (A) the types of United States persons making such investments, including State pension funds; and (B) United States persons making more than 2 percent of the total of such investments in a year. (2) Chinese entities receiving such investments, including an assessment of— (A) such entities in individual sectors of the economic of the People's Republic of China, including the housing sector; (B) any Chinese entities subject to sanctions imposed by the United States receiving such investments; and (C) Chinese entities that receive more than $100,000,000 from such investments. (c) Period covered The period covered by a report required by subsection (a) shall be— (1) in the case of the first such report, the period beginning on January 1, 2008, and ending on the date of the report