provided support for acts of international 
terrorism; 
‘‘(ii) a government described in clause 
(i); or 
‘‘(iii) person controlled, directly or in-
directly, by any such government, 
a review or investigation under this subsection 
of such covered transaction shall not be treated 
as final or complete until the results of such re-
view or investigation are approved and signed 
by the President. 
‘‘(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 na-
tional security of the United States of any cov-
ered transaction, including making requests for 
information to the Director of the Office of 
Foreign Assets Control within the Department 
of the Treasury and the Director of the Finan-
cial Crimes Enforcement Network. The Direc-
tor of National Intelligence also shall seek and 
incorporate the views of all affected or appro-
priate intelligence agencies.
‘‘(B) TIMING.—The Director of National 
Intelligence shall be provided adequate time to 
complete the analysis required under subpara-
graph (A), including any instance described in 
paragraph (2)(A)(iii). 
‘‘(C) INDEPENDENT ROLE OF DIRECTOR.—
The Director of National Intelligence shall not 
be a member of the Committee and shall serve 
no policy role with the Committee other than to 
provide analysis under subparagraph (A) in 
connection with a covered transaction. 
‘‘(5) SUBMISSION
OF
ADDITIONAL
INFORMA-
TION.—No provision of this subsection shall be con-
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 trans-
action, while any review or investigation of the 
transaction is on-going. 
‘‘(6) REGULATIONS.—Regulations prescribed 
under this section shall include standard procedures 
for—
‘‘(A) submitting any notice of a proposed 
or pending covered transaction to the Com-
mittee; 
‘‘(B) submitting a request to withdraw a 
proposed or pending covered transaction from 
review; and 
‘‘(C) resubmitting a notice of proposed or 
pending covered transaction that was previously 
withdrawn from review.’’. 
SEC. 3. STATUTORY ESTABLISHMENT OF THE COMMITTEE 
ON FOREIGN INVESTMENT IN THE UNITED 
STATES. 
(a) IN GENERAL.—Section 721 of the Defense Pro-
duction Act of 1950 (50 U.S.C. App. 2170) is amended 
by striking subsection (k) and inserting the following new 
subsection: 
‘‘(k) COMMITTEE ON FOREIGN INVESTMENT IN THE 
UNITED STATES.—
‘‘(1) ESTABLISHMENT.—The Committee on 
Foreign Investment in the United States established 
pursuant to Executive Order No. 11858 shall be a 
multi-agency committee to carry out this section and 
such other assignments as the President may des-
ignate.
‘‘(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. 
‘‘(G) The Secretary of Energy. 
‘‘(H) The Chairman of the Council of Eco-
nomic Advisors. 
‘‘(I) The United States Trade Representa-
tive. 
‘‘(J) The Director of the Office of Manage-
ment and Budget. 
‘‘(K) The Director of the National Eco-
nomic Council. 
‘‘(L) The Director of the Office of Science 
and Technology Policy. 
‘‘(M) The President’s Assistant for Na-
tional Security Affairs. 
‘‘(N) Any other designee of the President 
from the Executive Office of the President.
‘‘(3) CHAIRPERSON; VICE CHAIRPERSONS.—The 
Secretary of the Treasury shall be the Chairperson 
of the Committee. The Secretary of Homeland Secu-
rity and the Secretary of Commerce shall be the Vice 
Chairpersons of the Committee. 
‘‘(4) OTHER MEMBERS.—Subject to subsection 
(b)(4)(B), the Chairperson of the Committee shall 
involve the heads of such other Federal departments, 
agencies, and independent establishments in any re-
view or investigation under subsection (b) as the 
Chairperson, after consulting with the Vice Chair-
persons, determines to be appropriate on the basis 
of the facts and circumstances of the transaction 
under investigation (or the designee of any such de-
partment or agency head). 
‘‘(5) MEETINGS.—The Committee shall meet 
upon the direction of the President or upon the call 
of the Chairperson of the Committee without regard 
to section 552b of title 5, United States Code (if 
otherwise applicable). 
‘‘(6) COLLECTION
OF
EVIDENCE.—Subject to 
subsection (c), the Committee may, for the purpose 
of carrying out this section—
‘‘(A) sit and act at such times and places, 
take such testimony, receive such evidence, ad-
minister such oaths; and 
‘‘(B) require the attendance and testimony 
of such witnesses and the production of such 
books, records, correspondence, memoranda, pa-
pers, and documents as the Chairperson of the 
Committee may determine advisable. 
‘‘(7) AUTHORIZATION
OF
APPROPRIATIONS.—
There are authorized to be appropriated to the Sec-
retary of the Treasury for each of fiscal years 2008, 
2009, 2010, and 2011 expressly and solely for the 
operations of the Committee that are conducted by 
the Secretary, the sum of $10,000,000.’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.—
The first sentence of section 721(c) of the Defense Pro-
duction Act of 1950 (50 U.S.C. App. 2170(c)) is amend-
ed—
(1) by striking ‘‘material filed with’’ and insert-
ing ‘‘material, including proprietary business infor-
mation, filed with, or testimony presented to,’’; and 
(2) by striking ‘‘or documentary material’’ the 
second place such term appears and inserting ‘‘, doc-
umentary material, or testimony’’.