S. 2098 · 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.
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CornynSponsor12 cosponsors · 5 D, 7 R
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Burr
JB
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Barrasso
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Feinstein
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Klobuchar
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Lankford
JM
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Manchin
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Peters
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Rubio
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Scott
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Collins
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Baldwin
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Sullivan9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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 Senate · 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 2018
Latest action (May 22, 2018): Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.
Policy area: Foreign Trade and International Finance · Origin: Senate · Introduced: Nov 8, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.