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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4885 Introduced in House (IH)]

109th CONGRESS
  2d Session
                                H. R. 4885

 To amend the Defense Production Act of 1950 to prohibit acquisitions, 
mergers, or takeovers of persons engaged in interstate commerce in the 
United States by entities controlled by or acting on behalf of foreign 
 governments that do not recognize countries that are member states of 
the United Nations, participate in boycotts against countries that are 
  friendly to the United States, or provide support for international 
                               terrorism.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             March 7, 2006

 Ms. Berkley introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committees on 
  Energy and Commerce and International Relations, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL

 
 To amend the Defense Production Act of 1950 to prohibit acquisitions, 
mergers, or takeovers of persons engaged in interstate commerce in the 
United States by entities controlled by or acting on behalf of foreign 
 governments that do not recognize countries that are member states of 
the United Nations, participate in boycotts against countries that are 
  friendly to the United States, or provide support for international 
                               terrorism.

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

SECTION 1. PROHIBITION ON ACQUISITIONS, MERGERS, OR TAKEOVERS BY 
              ENTITIES CONTROLLED BY OR ACTING ON BEHALF OF CERTAIN 
              FOREIGN GOVERNMENTS.

    (a) In General.--Section 271(d) of the Defense Production Act of 
1950 (50 U.S.C. App. 2170(d)) is amended--
            (1) by striking ``Subject to subsection (d)'' and inserting 
        the following:
            ``(1) In general.--Subject to subsection (e)'';
            (2) by inserting after the first sentence the following new 
        paragraph:
            ``(2) Prohibition on acquisitions, mergers, or takeovers by 
        entities controlled by or acting on behalf of certain foreign 
        governments.--
                    ``(A) Prohibition.--The President shall prohibit 
                any acquisition, merger, or takeover described in 
                subsection (b) that will result in control of a person 
                engaged in interstate commerce in the United States by 
                an entity controlled by or acting on behalf of a 
                foreign government described in subparagraph (B).
                    ``(B) Foreign government described.--A foreign 
                government referred to in subparagraph (A) is a foreign 
                government that--
                            ``(i) does not recognize any country that 
                        is a member state of the United Nations;
                            ``(ii) takes or knowingly agrees to take 
                        any action to support any boycott against a 
                        country that is friendly to the United States 
                        and that is not itself the object of any form 
                        of boycott pursuant to United States law or 
                        regulation; or
                            ``(iii) the Secretary of State has 
                        determined, for purposes of section 6(j) of the 
                        Export Administration Act of 1979, section 620A 
                        of the Foreign Assistance Act of 1961, section 
                        40 of the Arms Export Control Act, or any other 
                        provision of law, is a government that has 
                        repeatedly provided support for acts of 
                        international terrorism.'';
            (3) by striking ``The President shall announce'' and 
        inserting the following new paragraph:
            ``(3) Announcement of decision; other appropriate relief.--
        The President shall announce''; and
            (4) in paragraph (3) (as so added)--
                    (A) by striking ``pursuant to this subsection'' and 
                inserting ``pursuant to paragraph (1) or (2) of this 
                subsection''; and
                    (B) by striking ``subsection (a)'' and inserting 
                ``subsection (a) or (b), as the case may be,''.
    (b) Effective Date.--The amendments made by subsection (a) apply 
with respect to any written notification of a proposed or pending 
acquisition, merger, or takeover received pursuant to section 721(b) of 
the Defense Production Act of 1950 (50 U.S.C. App. 2170(b)) on or after 
the date of the enactment of this Act.
                                 <all>
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