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H.R. 4311 · 115th Congress

Foreign Investment Risk Review Modernization Act of 2017

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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

RPR PittengerSponsor
50 cosponsors · 8 D, 42 R

This bill amends the Defense Production Act of 1950 to expand the scope of "covered transaction" subject to the review of the Committee on Foreign Investment in the United States (CFIUS). CFIUS analyzes the national security implications of foreign investment in the United States.

What it does: CRS summary · Introduced in House · Nov 8, 2017

Foreign Investment Risk Review Modernization Act of 2017

This bill amends the Defense Production Act of 1950 to expand the scope of "covered transaction" subject to the review of the Committee on Foreign Investment in the United States (CFIUS). CFIUS analyzes the national security implications of foreign investment in the United States.

A covered transaction includes:

  • any merger, acquisition, or takeover that could result in foreign control of any U.S. business,
  • the purchase or lease of real estate located in the United States that is in close proximity to a U.S. military installation or to another U.S. government facility or property that is sensitive for reasons relating to national security,
  • other investment in a U.S. critical technology company or U.S. critical infrastructure company,
  • any change in a foreign investor's rights that results in foreign control of a U.S. business,
  • the contribution of intellectual property to a foreign person, or
  • any other transaction, transfer, agreement, or arrangement designed to evade or circumvent the authority of CFIUS.

The bill revises other provisions relating to CFIUS, including the length of its review period, special hiring authority and funding, and authority to mandate reviews or take unilateral action.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Foreign Investment Risk Review Modernization Act of 2017

Latest action (Apr 12, 2018): Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.

Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Nov 8, 2017

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.