II 

109TH CONGRESS 

2D SESSION S. 2380 

To add the heads of certain Federal intelligence agencies to the Committee 

on Foreign Investment in the United States, to require enhanced notification to Congress and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MARCH 7, 2006 

Mr. DODD introduced the following bill; which was read twice and referred to 

the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To add the heads of certain Federal intelligence agencies 

to the Committee on Foreign Investment in the United 

States, to require enhanced notification to Congress and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘U.S. National Security 

5 Protection Act of 2006’’. 

6 SEC. 2. DEFINITIONS. 

7 As used in this Act— 


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1 (1) the term ‘‘Committee on Foreign Invest2 ment in the United States’’ or ‘‘CFIUS’’ means the 

3 committee established by the President under Execu4 tive Order 11858, May 7, 1975, and any successor 

5 thereto; and 

6 (2) the term ‘‘intelligence community’’ has the 

7 same meaning as in section 3(4) of the National Se8 curity Act of 1947 (50 U.S.C. 401a(4)). 

9 SEC. 3. COMMITTEE ON FOREIGN INVESTMENT IN THE 

10 UNITED STATES. 

11 (a) CFIUS MEMBERSHIP.— 

12 (1) DIRECTORS OF NATIONAL INTELLIGENCE

13 AND CENTRAL INTELLIGENCE.—Notwithstanding 

14 any other provision of law, the Director of National 

15 Intelligence and the Director of Central Intelligence 

16 shall be members of the Committee on Foreign In17 vestment in the United States. 

18 (2) VICE CHAIRS.—The Secretary of Homeland 

19 Security and the Secretary of Defense shall serve as 

20 vice chairs of the Committee on Foreign Investment 

21 in the United States. 

22 (b) SUBCOMMITTEE ON INTELLIGENCE.—Not later 

23 than 30 days after the date of enactment of this Act, the 

24 President shall establish within the Committee on Foreign 


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1 Investment in the United States a Subcommittee on Intel2 ligence, which shall be— 

3 (1) chaired by the Director of National Intel4 ligence; and 

5 (2) comprised of the head of each member of 

6 the intelligence community. 

7 SEC. 4. SUBCOMMITTEE REVIEW OF CFIUS INVESTIGA8 TIONS. 

9 Section 721 of the Defense Production Act of 1950 

10 (50 U.S.C. App. 2170) is amended by adding at the end 

11 the following: 

12 ‘‘(l) INTELLIGENCE SUBCOMMITTEE REVIEWS OF IN13 VESTIGATIONS.— 

14 ‘‘(1) PRE-INVESTIGATION REVIEW AND COM15 MENT.—The Subcommittee on Intelligence of the 

16 Committee on Foreign Investment in the United 

17 States shall— 

18 ‘‘(A) review information relating to a pro19 posed merger, acquisition, or takeover, during 

20 the 15-day period following the date of receipt 

21 of such information, and before the commence22 ment of any investigation under subsection (a) 

23 or (b); and 


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1 ‘‘(B) provide written comments on any de2 termination by the President or CFIUS not to 

3 conduct an investigation under subsection (a). 

4 ‘‘(2) POST-INVESTIGATION REVIEW AND COM5 MENT.—The Subcommittee on Intelligence of the 

6 Committee on Foreign Investment in the United 

7 States shall— 

8 ‘‘(A) review each investigation conducted 

9 by the President or CFIUS under subsections 

10 (a) and (b); and 

11 ‘‘(B) provide written comments on the re12 sults of each such investigation.’’. 

13 SEC. 5. TREATMENT OF CRITICAL INFRASTRUCTURE AS AF14 FECTING NATIONAL SECURITY. 

15 Section 721(b) of the Defense Production Act of 

16 1950 (50 U.S.C. App. 2170(b)) is amended by inserting 

17 after ‘‘commerce in the United States’’ the following: ‘‘, 

18 including any person that owns, controls, or operates any 

19 critical infrastructure, as defined in section 1016(e) of the 

20 USA PATRIOT Act (42 U.S.C. 5195c(e)),’’. 

21 SEC. 6. CERTIFICATION OF NATIONAL SECURITY DETER22 MINATIONS. 

23 ‘‘(m) PRESIDENTIAL OR CHAIR CERTIFICATION OF

24 THREAT DETERMINATIONS.— 


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1 ‘‘(1) IN GENERAL.—Notwithstanding any other 

2 provision of law, a final determination that an inves3 tigation under subsection (a) is not required with re4 spect to a merger, acquisition, or takeover may be 

5 made only— 

6 ‘‘(A) by the President, in any case in 

7 which the President is acting on the President’s 

8 own behalf under subsection (a); or 

9 ‘‘(B) by the Secretary of the Treasury, 

10 with the concurrence of the Secretary of Home11 land Security and the Secretary of Defense, in 

12 their respective capacities as chair and vice 

13 chairs of CFIUS, in any case in which CFIUS 

14 is acting as the President’s designee under sub15 section (a). 

16 ‘‘(2) CERTIFICATIONS REQUIRED.— 

17 ‘‘(A) PRESIDENTIAL DETERMINATIONS.— 

18 In any instance in which the President is acting 

19 on his or her own behalf under subsection (a), 

20 the President shall certify in writing to a final 

21 determination that an investigation under sub22 section (a) is not required with respect to a 

23 merger, acquisition, or takeover, and such cer24 tification requirement may not be delegated to 

25 any person. 


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1 ‘‘(B) CFIUS DETERMINATIONS.—In any 

2 instance in which CFIUS is acting as the Presi3 dent’s designee under subsection (a), the Sec4 retary of the Treasury, the Secretary of Home5 land Security, and the Secretary of Defense 

6 shall each certify in writing to a final deter7 mination that an investigation under subsection 

8 (a) is not required with respect to a merger, ac9 quisition, or takeover, and such certification re10 quirement may not be delegated to any person. 

11 ‘‘(3) NONCONCURRENCE.—If there is not con12 currence among the chair and vice chairs of CFIUS 

13 for purposes of paragraph (1)(B), the President 

14 shall make the final determination that an investiga15 tion under subsection (a) is not required with re16 spect to a merger, acquisition, or takeover, and the 

17 President shall certify such determination in writ18 ing.’’. 

19 SEC. 7. MANDATORY SUBMISSION OF INFORMATION. 

20 Section 721(c) of the Defense Production Act of 1950 

21 (50 U.S.C. App. 2170(c)) is amended— 

22 (1) in the subsection heading, by striking 

23 ‘‘CONFIDENTIALITY OF’’ and inserting ‘‘SUBMISSION

24 OF’’; 


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1 (2) by striking ‘‘Any information or documen2 tary material filed’’ and inserting the following: 

3 ‘‘(1) REQUIRED SUBMISSIONS.—Each person 

4 controlled by or acting on behalf of a foreign govern5 ment or foreign person shall— 

6 ‘‘(A) notify the President or the Presi7 dent’s designee in writing of any proposed 

8 merger, acquisition, or takeover of any United 

9 States critical infrastructure (as defined in sec10 tion 1016(e) of the USA PATRIOT Act (42 

11 U.S.C. 5195c(e))); and 

12 ‘‘(B) provide such information to the 

13 President or the President’s designee with re14 spect to such proposed transaction as may be 

15 necessary for purposes of this section. 

16 ‘‘(2) CONFIDENTIALITY OF INFORMATION.— 

17 Any information or documentary material filed, ei18 ther voluntarily or under paragraph (1),’’. 

19 SEC. 8. NOTICES OF REVIEWS AND INVESTIGATIONS AND 

20 QUARTERLY REPORTS REQUIRED. 

21 Section 721 of the Defense Production Act of 1950 

22 (50 U.S.C. App. 2170) is amended by adding at the end 

23 the following: 

24 ‘‘(n) NOTICES OF REVIEWS AND INVESTIGATIONS

25 AND QUARTERLY REPORTS TO CONGRESS.— 


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1 ‘‘(1) NOTICES TO CONGRESS.—The President 

2 or the President’s designee shall notify the appro3 priate committees of Congress— 

4 ‘‘(A) not later than 15 days after the date 

5 of receipt of written notification of a proposed 

6 or pending merger, acquisition, or takeover de7 scribed in subsection (a) or (b); and 

8 ‘‘(B) at the commencement of each inves9 tigation under subsection (a) or (b). 

10 ‘‘(2) QUARTERLY REPORTS TO CONGRESS.— 

11 ‘‘(A) IN GENERAL.—The President shall, 

12 on a quarterly basis, submit to Congress a re13 port on all mergers, acquisitions, and takeovers 

14 that were the subject of investigation or review 

15 under this section during the quarter, including 

16 any comments submitted under subsection 

17 (l)(2). 

18 ‘‘(B) FORM.—Each report required under 

19 subparagraph (A) may be submitted in unclas20 sified form, and may contain a classified 

21 annex.’’. 


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1 SEC. 9. CFIUS AS PRESIDENT’S DESIGNEE UNDER DEFENSE 

2 PRODUCTION ACT. 

3 Section 721 of the Defense Production Act of 1950 

4 (50 U.S.C. App. 2170) is amended by adding at the end 

5 the following: 

6 ‘‘(o) DESIGNEE.—Notwithstanding any other provi7 sion of law, the President’s designee for purposes of this 

8 section shall be the Committee on Foreign Investment in 

9 the United States, established by order of the President 

10 in Executive Order 11858, May 7, 1975 (in this section 

11 referred to as ‘CFIUS’), or any successor thereto.’’. 

Æ 


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