HR 556 RFS 
diction over any aspect of the report, including, at 
a minimum, the Committee on Foreign Affairs, the 
Committee on Financial Services, and the Com-
mittee on Energy and Commerce of the House of 
Representatives, before July 31 of each year on all 
the reviews and investigations of covered trans-
actions completed under subsection (b) during the 
12-month period covered by the report. 
‘‘(2) CONTENTS OF REPORT RELATING TO COV-
ERED TRANSACTIONS.—The report under paragraph 
(1) shall contain the following information with re-
spect to each covered transaction: 
‘‘(A) A list of all notices filed and all re-
views or investigations completed during the pe-
riod with basic information on each party to the 
transaction, the nature of the business activities 
or products of all pertinent persons, along with 
information about the status of the review or 
investigation, information on any withdrawal 
from the process, any rollcall votes by the Com-
mittee under this section, any extension of time 
for any investigation, and any presidential deci-
sion or action under this section. 
‘‘(B) Specific, cumulative, and, as appro-
priate, trend information on the numbers of fil-
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ings, investigations, withdrawals, and presi-
dential decisions or actions under this section. 
‘‘(C) Cumulative and, as appropriate, 
trend information on the business sectors in-
volved in the filings which have been made, and 
the countries from which the investments have 
originated. 
‘‘(D) Information on whether companies 
that withdrew notices to the Committee in ac-
cordance with subsection (b)(1)(C)(ii) have 
later re-filed such notices, or, alternatively, 
abandoned the transaction. 
‘‘(E) The types of security arrangements 
and conditions the Committee has used to miti-
gate national security concerns about a trans-
action, including a discussion of the methods 
the Committee and any lead departments or 
agencies designated under subsection (l) are 
using to determine compliance with such ar-
rangements or conditions. 
‘‘(F) A detailed discussion of all perceived 
adverse effects of covered transactions on the 
national security or critical infrastructure of the 
United States that the Committee will take into 
account in its deliberations during the period 
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before delivery of the next such report, to the 
extent possible. 
‘‘(3) CONTENTS
OF
REPORT
RELATING
TO 
CRITICAL TECHNOLOGIES.— 
‘‘(A) IN GENERAL.—In order to assist the 
Congress in its oversight responsibilities with 
respect to this section, the President and such 
agencies as the President shall designate shall 
include in the annual report submitted under 
paragraph (1) the following: 
‘‘(i) An evaluation of whether there is 
credible evidence of a coordinated strategy 
by 1 or more countries or companies to ac-
quire United States companies involved in 
research, development, or production of 
critical technologies for which the United 
States is a leading producer. 
‘‘(ii) An evaluation of whether there 
are industrial espionage activities directed 
or directly assisted by foreign governments 
against private United States companies 
aimed at obtaining commercial secrets re-
lated to critical technologies. 
‘‘(B) 
CRITICAL
TECHNOLOGIES
DE-
FINED.—For purposes of this paragraph, the 
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term ‘critical technologies’ means technologies 
identified under title VI of the National Science 
and Technology Policy, Organization, and Pri-
orities Act of 1976 or other critical technology, 
critical components, or critical technology items 
essential to national defense or national security 
identified pursuant to this section. 
‘‘(C) 
RELEASE
OF
UNCLASSIFIED 
STUDY.—That portion of the annual report 
under paragraph (1) that is required by this 
paragraph may be classified. An unclassified 
version of that portion of the report shall be 
made available to the public.’’. 
(c) STUDY AND REPORT.— 
(1) STUDY REQUIRED.—Before the end of the 
120-day period beginning on the date of the enact-
ment of this Act and annually thereafter, the Sec-
retary of the Treasury, in consultation with the Sec-
retary of State and the Secretary of Commerce, shall 
conduct a study on investments in the United 
States, especially investments in critical infrastruc-
ture and industries affecting national security, by— 
(A) foreign governments, entities controlled 
by or acting on behalf of a foreign government, 
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or persons of foreign countries which comply 
with any boycott of Israel; or 
(B) foreign governments, entities con-
trolled by or acting on behalf of a foreign gov-
ernment, or persons of foreign countries which 
do not ban organizations designated by the Sec-
retary of State as foreign terrorist organiza-
tions. 
(2) REPORT.—Before the end of the 30-day pe-
riod beginning upon completion of each study under 
paragraph (1) or in the next annual report under 
section 721(m) of the Defense Production Act of 
1950 (as added by subsection (b)), the Secretary of 
the Treasury shall submit a report to the Congress, 
for transmittal to all appropriate committees of the 
Senate and the House of Representatives, containing 
the findings and conclusions of the Secretary with 
respect to the study described in paragraph (1), to-
gether with an analysis of the effects of such invest-
ment on the national security of the United States 
and on any efforts to address those effects. 
(d) INVESTIGATION BY INSPECTOR GENERAL.— 
(1) IN
GENERAL.—The Inspector General of 
the Department of the Treasury shall conduct an 
independent investigation to determine all of the 
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