H.R. 4915 · 109th Congress
Committee on Foreign Investment in the United States Reform Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MaloneySponsor12 cosponsors · 11 D, 1 R
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Frank
LG
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Gutiérrez
CS
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Shays
RD
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DeLauro
MM
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McNulty
HB
D
Berman
SB
D
Brown
JB
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Baca
HF
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Ford
DK
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Kucinich
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Moore
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Wasserman Schultz3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Committee on Foreign Investment in the United States Reform Act - Amends the Defense Production Act of 1950 to revise provisions concerning presidential authority to review any mergers, acquisitions, and takeovers (transactions) that could result in foreign control of persons engaged in interstate commerce in the United States.
What it does: CRS summary · Introduced in House · Mar 9, 2006
Committee on Foreign Investment in the United States Reform Act - Amends the Defense Production Act of 1950 to revise provisions concerning presidential authority to review any mergers, acquisitions, and takeovers (transactions) that could result in foreign control of persons engaged in interstate commerce in the United States. Directs the President, after receiving written notification of a transaction, to determine whether the transaction may possibly have an effect on U.S. national security. Requires an investigation whenever a review determines that the transaction could result in foreign control of persons engaged in U.S. interstate commerce. Provides that, when a review determines that conditions must be established on the transaction before its approval, such determination shall not be final until approved by the President and either the Secretary or Deputy Secretary of the Treasury. Outlines national security investigation requirements and procedures.
Authorizes the President to establish interim protections in the case of a withdrawal of written notice of a proposed or pending transaction before a review or investigation is completed.
Provides additional factors to be considered in an investigation, including whether the transaction affects U.S. critical infrastructure.
Requires annual and quarterly reports to Congress on such reviews and investigations.
Reestablishes the Committee on Foreign Investment in the United States (CFIUS) as a multi-agency committee (currently, a committee within the Department of the Treasury).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Committee on Foreign Investment in the United States Reform Act
Latest action (Mar 9, 2006): Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Mar 9, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.