own financial needs, as an extenuating circumstance justifying such an investment. (D) Publication of waivers provided With respect to each calendar quarter, the Secretary shall publish and make publicly available a list of the waivers provided by the Secretary under this paragraph during such quarter. (4) China For purposes of this section, the term China means the People’s Republic of China and includes any subordinate Special Administrative Regions thereof. (5) Annual report Each organization described in paragraph (1) with respect to each taxable year shall, not later than the due date for the return of tax for such taxable year, transmit to the Secretary a written report including— (A) a description of each interest in a disqualified Chinese company held by such organization during such taxable year, (B) the period for any such interest that was so held, and (C) whether such organization has a waiver under paragraph (3) to hold such interest during such period. . (b) Effective date (1) In general The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act, except that only periods after the date that is 270 days after the date of the enactment of this Act shall be taken into account in determining whether the requirement of section 501(s) of the Internal Revenue Code of 1986 (as added by this section) is met with respect to any taxable year. (2) 1-year grace period under certain circumstances In the case of any organization that, after intensive due diligence, is unaware of the failure to satisfy the requirement of such section 501(s), paragraph (1) shall be applied by substituting 1 year for 270 days . (c) Public report Not later than 360 days after the date of the enactment of this Act, and annually thereafter, the Secretary of the Treasury (or the Secretary’s delegate) shall publicly release a report describing the patterns of United States outbound investment in China, including such investment by organizations described in section 501(s)(1) of the