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‘‘(A) CERTIFIED NOTICE AT COMPLETION OF
REVIEW.—Upon completion of a review under
subsection (b) that concludes action under this
section, the chairperson and the head of the lead
agency shall transmit a certified notice to the
members of Congress specified in subparagraph
(C)(iii).
‘‘(B) CERTIFIED REPORT AT COMPLETION
OF INVESTIGATION.—As soon as is practicable
after completion of an investigation under sub-
section (b) that concludes action under this sec-
tion, the chairperson and the head of the lead
agency shall transmit to the members of Congress
specified in subparagraph (C)(iii) a certified
written report (consistent with the requirements
of subsection (c)) on the results of the investiga-
tion, unless the matter under investigation has
been sent to the President for decision.
‘‘(C) CERTIFICATION PROCEDURES.—
‘‘(i) IN GENERAL.—Each certified no-
tice and report required under subpara-
graphs (A) and (B), respectively, shall be
submitted to the members of Congress speci-
fied in clause (iii), and shall include—
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‘‘(I) a description of the actions
taken by the Committee with respect to
the transaction; and
‘‘(II) identification of the deter-
minative factors considered under sub-
section (f).
‘‘(ii) CONTENT
OF
CERTIFICATION.—
Each certified notice and report required
under subparagraphs (A) and (B), respec-
tively, shall be signed by the chairperson
and the head of the lead agency, and shall
state that, in the determination of the Com-
mittee, there are no unresolved national se-
curity concerns with the transaction that is
the subject of the notice or report.
‘‘(iii) MEMBERS OF CONGRESS.—Each
certified notice and report required under
subparagraphs (A) and (B), respectively,
shall be transmitted—
‘‘(I) to the Majority Leader and
the Minority Leader of the Senate;
‘‘(II) to the chair and ranking
member of the Committee on Banking,
Housing, and Urban Affairs of the
Senate and of any committee of the
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Senate having oversight over the lead
agency;
‘‘(III) to the Speaker and the Mi-
nority Leader of the House of Rep-
resentatives;
‘‘(IV) to the chair and ranking
member of the Committee on Financial
Services of the House of Representa-
tives and of any committee of the
House of Representatives having over-
sight over the lead agency; and
‘‘(V) with respect to covered trans-
actions involving critical infrastruc-
ture, to the members of the Senate from
the State in which the principal place
of business of the acquired United
States person is located, and the mem-
ber from the Congressional District in
which such principal place of business
is located.
‘‘(iv) SIGNATURES; LIMIT ON DELEGA-
TION.—
‘‘(I) IN GENERAL.—Each certified
notice and report required under sub-
paragraphs (A) and (B), respectively,
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shall be signed by the chairperson and
the head of the lead agency, which sig-
nature requirement may only be dele-
gated in accordance with subclause
(II).
‘‘(II) LIMITATION ON DELEGATION
OF CERTIFICATIONS.—The chairperson
and the head of the lead agency may
delegate 
the 
signature 
requirement
under subclause (I)—
‘‘(aa) only to an appropriate
employee of the Department of the
Treasury (in the case of the Sec-
retary of the Treasury) or to an
appropriate employee of the lead
agency (in the case of the lead
agency) who was appointed by the
President, by and with the advice
and consent of the Senate, with
respect to any notice provided
under paragraph (1) following the
completion of a review under this
section; or
‘‘(bb) only to a Deputy Sec-
retary of the Treasury (in the case
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of the Secretary of the Treasury)
or a person serving in the Deputy
position or the equivalent thereof
at the lead agency (in the case of
the lead agency), with respect to
any report provided under sub-
paragraph (B) following an inves-
tigation under this section.
‘‘(4) ANALYSIS BY DIRECTOR OF NATIONAL IN-
TELLIGENCE.—
‘‘(A) IN
GENERAL.—The Director of Na-
tional Intelligence shall expeditiously carry out a
thorough analysis of any threat to the national
security of the United States posed by any cov-
ered transaction. The Director of National Intel-
ligence shall also seek and incorporate the views
of all affected or appropriate intelligence agen-
cies with respect to the transaction.
‘‘(B) TIMING.—The analysis required under
subparagraph (A) shall be provided by the Direc-
tor of National Intelligence to the Committee not
later than 20 days after the date on which notice
of the transaction is accepted by the Committee
under paragraph (1)(C), but such analysis may
be supplemented or amended, as the Director
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strued as prohibiting any party to a covered trans-
action from submitting additional information con-
cerning the transaction, including any proposed re-
structuring of the transaction or any modifications to
any agreements in connection with the transaction,
while any review or investigation of the transaction
is ongoing.
‘‘(6) NOTICE
OF
RESULTS
TO
PARTIES.—The
Committee shall notify the parties to a covered trans-
action of the results of a review or investigation
under this section, promptly upon completion of all
action under this section.
‘‘(7) 
REGULATIONS.—Regulations 
prescribed
under this section shall include standard procedures
for—
‘‘(A) submitting any notice of a covered
transaction to the Committee;
‘‘(B) submitting a request to withdraw a
covered transaction from review;
‘‘(C) resubmitting a notice of a covered
transaction that was previously withdrawn from
review; and
‘‘(D) providing notice of the results of a re-
view or investigation to the parties to the covered
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transaction, upon completion of all action under
this section.’’.
SEC. 3. STATUTORY ESTABLISHMENT OF THE COMMITTEE
ON FOREIGN INVESTMENT IN THE UNITED
STATES.
Section 721 of the Defense Production Act of 1950 (50
U.S.C. App. 2170) is amended by striking subsection (k)
and inserting the following:
‘‘(k) COMMITTEE ON FOREIGN INVESTMENT IN THE
UNITED STATES.—
‘‘(1) ESTABLISHMENT.—The Committee on For-
eign Investment in the United States, established pur-
suant to Executive Order No. 11858, shall be a multi
agency committee to carry out this section and such
other assignments as the President may designate.
‘‘(2) MEMBERSHIP.—The Committee shall be
comprised of the following members or the designee of
any such member:
‘‘(A) The Secretary of the Treasury.
‘‘(B) The Secretary of Homeland Security.
‘‘(C) The Secretary of Commerce.
‘‘(D) The Secretary of Defense.
‘‘(E) The Secretary of State.
‘‘(F) The Attorney General of the United
States.
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‘‘(G) The Secretary of Energy.
‘‘(H) The Secretary of Labor (nonvoting, ex
officio).
‘‘(I) The Director of National Intelligence
(nonvoting, ex officio).
‘‘(J) The heads of any other executive de-
partment, agency, or office, as the President de-
termines appropriate, generally or on a case-by-
case basis.
‘‘(3) CHAIRPERSON.—The Secretary of the Treas-
ury shall serve as the chairperson of the Committee.
‘‘(4) ASSISTANT SECRETARY FOR THE DEPART-
MENT OF THE TREASURY.—There shall be established
an additional position of Assistant Secretary of the
Treasury, who shall be appointed by the President, by
and with the advice and consent of the Senate. The
Assistant Secretary appointed under this paragraph
shall report directly to the Undersecretary of the
Treasury for International Affairs. The duties of the
Assistant Secretary shall include duties related to the
Committee on Foreign Investment in the United
States, as delegated by the Secretary of the Treasury
under this section.
‘‘(5) DESIGNATION OF LEAD AGENCY.—The Sec-
retary of the Treasury shall designate, as appropriate,
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a member or members of the Committee to be the lead
agency or agencies on behalf of the Committee—
‘‘(A) for each covered transaction, and for
negotiating any mitigation agreements or other
conditions necessary to protect national security;
and
‘‘(B) for all matters related to the moni-
toring of the completed transaction, to ensure
compliance with such agreements or conditions
and with this section.
‘‘(6) OTHER MEMBERS.—The chairperson shall
consult with the heads of such other Federal depart-
ments, agencies, and independent establishments in
any review or investigation under subsection (a), as
the chairperson determines to be appropriate, on the
basis of the facts and circumstances of the covered
transaction under review or investigation (or the des-
ignee of any such department or agency head).
‘‘(7) MEETINGS.—The Committee shall meet
upon the direction of the President or upon the call
of the chairperson, without regard to section 552b of
title 5, United States Code (if otherwise applicable).’’.
SEC. 4. ADDITIONAL FACTORS FOR CONSIDERATION.
Section 721(f) of the Defense Production Act of 1950
(50 U.S.C. App. 2170(f)) is amended—
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(1) in the matter preceding paragraph (1), by
striking ‘‘among other factors’’;
(2) in paragraph (4)—
(A) in subparagraph (A) by striking ‘‘or’’
at the end;
(B) by redesignating subparagraph (B) as
subparagraph (C);
(C) by inserting after subparagraph (A) the
following:
‘‘(B) identified by the Secretary of Defense
as posing a potential regional military threat to
the interests of the United States; or’’; and
(D) by striking ‘‘and’’ at the end;
(3) in paragraph (5), by striking the period at
the end and inserting a semicolon; and
(4) by adding at the end the following:
‘‘(6) the potential national security-related effects
on United States critical infrastructure, including
major energy assets;
‘‘(7) the potential national security-related effects
on United States critical technologies;
‘‘(8) whether the covered transaction is a foreign
government-controlled transaction, as determined
under subsection (b)(1)(B);