S. 1983 · 115th Congress
United States Foreign Investment Review 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.
D
BrownSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Trade Act of 1974 to require each party to a covered transaction to submit a written notification to the Department of Commerce of such transaction.
What it does: CRS summary · Introduced in Senate · Oct 18, 2017
United States Foreign Investment Review Act of 2017
This bill amends the Trade Act of 1974 to require each party to a covered transaction to submit a written notification to the Department of Commerce of such transaction. "Covered transaction" is defined as any merger, acquisition, takeover, or investment, or the establishment of a new entity, by or with any person, that is proposed or pending after this bill's enactment that could result in foreign control of any individual or entity engaged in interstate commerce in the United States valued at: (1) $50 million or more, in the case of a transaction involving a state-owned enterprise; and (2) $1 billion or more, in the case of any other transaction.
Upon receiving such notification, Commerce must: (1) review the transaction to determine its economic effect on the United States, considering specified economic factors; and (2) based on the results of the review, take appropriate action.
The bill prohibits the expenditure of funds to encourage investment in the United States by any foreign state-owned enterprise that does not operate according to market considerations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: United States Foreign Investment Review Act of 2017
Latest action (Jan 25, 2018): Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.
Policy area: Foreign Trade and International Finance · Origin: Senate · Introduced: Oct 18, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.