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facts and circumstances concerning each failure of 
the Department of the Treasury to make any report 
to the Congress that was required under section 
721(k) of the Defense Production Act of 1950 (as 
in effect before the date of the enactment of this 
Act). 
(2) REPORT TO THE CONGRESS.—Before the 
end of the 270-day period beginning on the date of 
the enactment of this Act, the Inspector General of 
the Department of the Treasury shall submit a re-
port to the chairman and ranking member of each 
committee of the House of Representatives and the 
Senate with jurisdiction over any aspect of the re-
port, including, at a minimum, the Committee on 
Foreign Affairs, the Committee on Financial Serv-
ices, and the Committee on Energy and Commerce 
of the House of Representatives, on the investigation 
under paragraph (1) containing the findings and 
conclusions of the Inspector General. 
SEC. 8. CERTIFICATION OF NOTICES AND ASSURANCES. 
Section 721 of the Defense Production Act of 1950 
(50 U.S.C. App. 2170) is amended by inserting after sub-
section (m) (as added by section 7(b) of this Act) the fol-
lowing new subsection: 
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‘‘(n) CERTIFICATION
OF
NOTICES
AND
ASSUR-
ANCES.—Each notice required to be submitted, by a party 
to a covered transaction, to the President or the Presi-
dent’s designee under this section and regulations pre-
scribed under such section, and any information submitted 
by any such party in connection with any action for which 
a report is required pursuant to paragraph (3)(B)(ii) of 
subsection (l) with respect to the implementation of any 
mitigation agreement or condition described in paragraph 
(1)(A) of such subsection, or any material change in cir-
cumstances, shall be accompanied by a written statement 
by the chief executive officer or the designee of the person 
required to submit such notice or information certifying 
that, to the best of the person’s knowledge and belief— 
‘‘(1) the notice or information submitted fully 
complies with the requirements of this section or 
such regulation, agreement, or condition; and 
‘‘(2) the notice or information is accurate and 
complete in all material respects.’’. 
SEC. 9. REGULATIONS. 
Section 721(h) of the Defense Production Act of 
1950 (50 U.S.C. App. 2170(h)) is amended to read as 
follows: 
‘‘(h) REGULATIONS.—The President shall direct the 
issuance of regulations to carry out this section. Such reg-
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ulations shall, to the extent possible, minimize paperwork 
burdens and shall to the extent possible coordinate report-
ing requirements under this section with reporting re-
quirements under any other provision of Federal law.’’. 
SEC. 10. EFFECT ON OTHER LAW. 
Section 721(i) of the Defense Production Act of 1950 
(50 U.S.C. App. 2170(i)) is amended to read as follows: 
‘‘(i) EFFECT ON OTHER LAW.—No provision of this 
section shall be construed as altering or affecting any 
other authority, process, regulation, investigation, enforce-
ment measure, or review provided by or established under 
any other provision of Federal law, including the Inter-
national Emergency Economic Powers Act, or any other 
authority of the President or the Congress under the Con-
stitution of the United States.’’. 
SEC. 11. EFFECTIVE DATE. 
The amendments made by this Act shall apply after 
the end of the 90-day period beginning on the date of the 
enactment of this Act. 
Passed the House of Representatives February 28, 
2007. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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