II 

109TH CONGRESS 

2D SESSION S. 2442 

To require the President or the Committee on Foreign Investment in the 

United States to submit to Congress draft investigation reports on national security related investigations, to address mandatory investigations 

by such committee, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MARCH 16 (legislative day, MARCH 15), 2006 

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

to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To require the President or the Committee on Foreign Investment in the United States to submit to Congress 

draft investigation reports on national security related 

investigations, to address mandatory investigations by 

such committee, 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 ‘‘Safe Foreign Invest5 ments Act of 2006’’. 


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1 SEC. 2. NOTICE TO CONGRESS AND CERTIFICATION OF 

2 RECOMMENDATIONS. 

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 ‘‘(l) NOTICE TO CONGRESS.—Not later than 7 days 

7 before the date of completion of any investigation under 

8 this section, and before any final determination becomes 

9 effective, the President or the President’s designee shall 

10 submit to the Committee on Homeland Security and Gov11 ernmental Affairs of the Senate and the Committee on 

12 Homeland Security of the House of Representatives a 

13 draft report of its findings. 

14 ‘‘(m) CERTIFICATIONS.—In any case in which the 

15 President’s designee makes an investigation under this 

16 section, each member of CFIUS shall certify in writing 

17 that member’s recommendations or submit a certified dis18 sent, as appropriate, to the President and to Congress at 

19 the conclusion of such investigation.’’. 

20 SEC. 3. MANDATORY INVESTIGATIONS. 

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

22 1950 (50 U.S.C. App. 2170(b)) is amended— 

23 (1) by redesignating paragraphs (1) and (2) as 

24 subparagraphs (A) and (B), respectively and indent25 ing appropriately; 


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1 (2) by striking ‘‘The President or’’ and insert2 ing the following: 

3 ‘‘(1) INVESTIGATIONS INVOLVING FOREIGN

4 GOVERNMENTS.—The President or’’; and 

5 (3) by striking ‘‘in the United States that could 

6 affect the national security of the United States. 

7 Such investigation’’ and inserting the following: ‘‘in 

8 the United States. 

9 ‘‘(2) INVESTIGATIONS INVOLVING OTHER FOR10 EIGN PERSONS.—An investigation described in para11 graph (1) shall be required with respect to an entity 

12 controlled by or acting on behalf of a foreign person 

13 other than a foreign government only in any case in 

14 which the subject merger, acquisition, or takeover of 

15 the person engaged in interstate commerce in the 

16 United States involves critical infrastructure, and 

17 could affect the national security of the United 

18 States. 

19 ‘‘(3) TIMING.—Investigations under this sub20 section’’. 

21 SEC. 4. PRESIDENTIAL FINDINGS. 

22 Section 721(e)(1) of the Defense Production Act of 

23 1950 (50 U.S.C. App. 2170(e)(1)) is amended by striking 

24 ‘‘, and’’ and inserting the following: ‘‘, or might fail to 


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1 take action necessary to prevent impairment of the na2 tional security; and’’. 

3 SEC. 5. DESIGNATION OF CFIUS. 

4 Section 721 of the Defense Production Act of 1950 

5 (50 U.S.C. App. 2170) is amended by adding at the end 

6 the following: 

7 ‘‘(n) PRESIDENT’S DESIGNEE.—For purposes of this 

8 section, the President’s designee shall be the Committee 

9 on Foreign Investment in the United States (or ‘CFIUS’), 

10 established by order of the President in Executive Order 

11 11858, May 7, 1975, or any successor thereto. Notwith12 standing any other rule, regulation, or order, for purposes 

13 of any investigation under this section, CFIUS shall be 

14 chaired by the Secretary of Homeland Security.’’. 

15 SEC. 6. TECHNICAL CORRECTIONS. 

16 Section 721 of the Defense Production Act of 1950 

17 (50 U.S.C. App. 2170) is amended— 

18 (1) in subsection (d), by striking ‘‘subsection 

19 (d)’’ and inserting ‘‘subsection (e)’’; and 

20 (2) in subsection (e), by striking ‘‘subsection 

21 (c)’’ and inserting ‘‘subsection (d)’’. 

Æ 


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