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‘‘(10) the long-term projection of United States
requirements for sources of energy and other critical
resources and material; and
‘‘(11) such other factors as the President or the
Committee may determine to be appropriate, gen-
erally or in connection with a specific review or in-
vestigation.’’.
SEC. 5. MITIGATION, TRACKING, AND POSTCONSUMMATION
MONITORING AND ENFORCEMENT.
Section 721 of the Defense Production Act of 1950 (50
U.S.C. App. 2170) is amended by adding at the end the
following:
‘‘(l) MITIGATION, TRACKING, AND POSTCONSUMMATION
MONITORING AND ENFORCEMENT.—
‘‘(1) MITIGATION.—
‘‘(A) IN
GENERAL.—The Committee or a
lead agency may, on behalf of the Committee, ne-
gotiate, enter into or impose, and enforce any
agreement or condition with any party to the
covered transaction in order to mitigate any
threat to the national security of the United
States that arises as a result of the covered
transaction.
‘‘(B) RISK-BASED
ANALYSIS
REQUIRED.—
Any agreement entered into or condition imposed
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under subparagraph (A) shall be based on a risk-
based analysis, conducted by the Committee, of
the threat to national security of the covered
transaction.
‘‘(2) TRACKING AUTHORITY FOR WITHDRAWN NO-
TICES.—
‘‘(A) IN GENERAL.—If any written notice of
a covered transaction that was submitted to the
Committee under this section is withdrawn be-
fore any review or investigation by the Com-
mittee under subsection (b) is completed, the
Committee shall establish, as appropriate—
‘‘(i) interim protections to address spe-
cific concerns with such transaction that
have been raised in connection with any
such review or investigation pending any
resubmission of any written notice under
this section with respect to such transaction
and further action by the President under
this section;
‘‘(ii) specific time frames for resubmit-
ting any such written notice; and
‘‘(iii) a process for tracking any ac-
tions that may be taken by any party to the
transaction, in connection with the trans-
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action, before the notice referred to in clause
(ii) is resubmitted.
‘‘(B) DESIGNATION OF AGENCY.—The lead
agency, other than any entity of the intelligence
community (as defined in the National Security
Act of 1947), shall, on behalf of the Committee,
ensure that the requirements of subparagraph
(A) with respect to any covered transaction that
is subject to such subparagraph are met.
‘‘(3) NEGOTIATION, MODIFICATION, MONITORING,
AND ENFORCEMENT.—
‘‘(A) DESIGNATION OF LEAD AGENCY.—The
lead agency shall negotiate, modify, monitor,
and enforce, on behalf of the Committee, any
agreement entered into or condition imposed
under paragraph (1) with respect to a covered
transaction, based on the expertise with and
knowledge of the issues related to such trans-
action on the part of the designated department
or agency. Nothing in this paragraph shall pro-
hibit other departments or agencies in assisting
the lead agency in carrying out the purposes of
this paragraph.
‘‘(B) REPORTING
BY
DESIGNATED
AGEN-
CY.—
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‘‘(i) 
MODIFICATION
REPORTS.—The
lead agency in connection with any agree-
ment entered into or condition imposed
with respect to a covered transaction
shall—
‘‘(I) provide periodic reports to
the Committee on any material modi-
fication to any such agreement or con-
dition imposed with respect to the
transaction; and
‘‘(II) ensure that any material
modification to any such agreement or
condition is reported to the Director of
National Intelligence, the Attorney
General of the United States, and any
other Federal department or agency
that may have a material interest in
such modification.
‘‘(ii) COMPLIANCE.—The Committee
shall develop and agree upon methods for
evaluating compliance with any agreement
entered into or condition imposed with re-
spect to a covered transaction that will
allow the Committee to adequately assure
compliance, without—
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‘‘(I) unnecessarily diverting Com-
mittee resources from assessing any
new covered transaction for which a
written notice has been filed pursuant
to subsection (b)(1)(C), and if nec-
essary, reaching a mitigation agree-
ment with or imposing a condition on
a party to such covered transaction or
any covered transaction for which a re-
view has been reopened for any reason;
or
‘‘(II) placing unnecessary burdens
on a party to a covered transaction.’’.
SEC. 6. ACTION BY THE PRESIDENT.
Section 721 of the Defense Production Act of 1950 (50
U.S.C. App. 2170) is amended by striking subsections (d)
and (e) and inserting the following:
‘‘(d) ACTION BY THE PRESIDENT.—
‘‘(1) IN GENERAL.—Subject to paragraph (4), the
President may take such action for such time as the
President considers appropriate to suspend or pro-
hibit any covered transaction that threatens to im-
pair the national security of the United States.
‘‘(2) ANNOUNCEMENT BY THE PRESIDENT.—The
President shall announce the decision on whether or
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not to take action pursuant to paragraph (1) not
later than 15 days after the date on which an inves-
tigation described in subsection (b) is completed.
‘‘(3) ENFORCEMENT.—The President may direct
the Attorney General of the United States to seek ap-
propriate relief, including divestment relief, in the
district courts of the United States, in order to imple-
ment and enforce this subsection.
‘‘(4) FINDINGS OF THE PRESIDENT.—The Presi-
dent may exercise the authority conferred by para-
graph (1), only if the President finds that—
‘‘(A) there is credible evidence that leads the
President to believe that the foreign interest exer-
cising control might take action that threatens to
impair the national security; and
‘‘(B) provisions of law, other than this sec-
tion and the International Emergency Economic
Powers Act, do not, in the judgment of the Presi-
dent, provide adequate and appropriate author-
ity for the President to protect the national secu-
rity in the matter before the President.
‘‘(5) FACTORS TO BE CONSIDERED.—For pur-
poses of determining whether to take action under
paragraph (1), the President shall consider, among
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other factors each of the factors described in subsection
(f), as appropriate.
‘‘(e) ACTIONS AND FINDINGS NONREVIEWABLE.—The
actions of the President under paragraph (1) of subsection
(d) and the findings of the President under paragraph (4)
of subsection (d) shall not be subject to judicial review.’’.
SEC. 7. INCREASED OVERSIGHT BY CONGRESS.
(a) REPORT ON ACTIONS.—Section 721(g) of the De-
fense Production Act of 1950 (50 U.S.C. App. 2170(g)) is
amended to read as follows:
‘‘(g) ADDITIONAL INFORMATION TO CONGRESS; CON-
FIDENTIALITY.—
‘‘(1) BRIEFING
REQUIREMENT
ON
REQUEST.—
The Committee shall, upon request from any Member
of Congress specified in subsection (b)(3)(C)(iii),
promptly provide briefings on a covered transaction
for which all action has concluded under this section,
or on compliance with a mitigation agreement or con-
dition imposed with respect to such transaction, on a
classified basis, if deemed necessary by the sensitivity
of the information. Briefings under this paragraph
may be provided to the congressional staff of such a
Member of Congress having appropriate security
clearance.
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‘‘(2) APPLICATION OF CONFIDENTIALITY PROVI-
SIONS.—
‘‘(A) IN GENERAL.—The disclosure of infor-
mation under this subsection shall be consistent
with the requirements of subsection (c). Members
of Congress and staff of either House of Congress
or any committee of Congress, shall be subject to
the same limitations on disclosure of information
as are applicable under subsection (c).
‘‘(B) PROPRIETARY INFORMATION.—Propri-
etary information which can be associated with
a particular party to a covered transaction shall
be furnished in accordance with subparagraph
(A) only to a committee of Congress, and only
when the committee provides assurances of con-
fidentiality, unless such party otherwise consents
in writing to such disclosure.’’.
(b) ANNUAL REPORT.—Section 721 of the Defense Pro-
duction Act of 1950 (50 U.S.C. App. 2170) is amended by
adding at the end the following:
‘‘(m) ANNUAL REPORT TO CONGRESS.—
‘‘(1) IN GENERAL.—The chairperson shall trans-
mit a report to the chairman and ranking member of
the committee of jurisdiction in the Senate and the
House of Representatives, before July 31 of each year
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on all of the reviews and investigations of covered
transactions completed under subsection (b) during
the 12-month period covered by the report.
‘‘(2) CONTENTS OF REPORT RELATING TO COV-
ERED
TRANSACTIONS.—The annual report under
paragraph (1) shall contain the following informa-
tion, with respect to each covered transaction, for the
reporting period:
‘‘(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 any withdrawal from the
process, and any decision or action by the Presi-
dent under this section.
‘‘(B) Specific, cumulative, and, as appro-
priate, trend information on the numbers of fil-
ings, investigations, withdrawals, and decisions
or actions by the President under this section.
‘‘(C) Cumulative and, as appropriate, trend
information on the business sectors involved in
the filings which have been made, and the coun-
tries from which the investments have originated.
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‘‘(D) Information on whether companies
that withdrew notices to the Committee in ac-
cordance with subsection (b)(1)(C)(ii) have later
refiled 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
that the Committee and any lead agency 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 na-
tional security or critical infrastructure of the
United States that the Committee will take into
account in its deliberations during the period be-
fore delivery of the next report, to the extent pos-
sible.
‘‘(3) CONTENTS OF REPORT RELATING TO CRIT-
ICAL TECHNOLOGIES.—
‘‘(A) IN GENERAL.—In order to assist Con-
gress in its oversight responsibilities with respect
to this section, the President and such agencies
as the President shall designate shall include in
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the annual report submitted under paragraph
(1)—
‘‘(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 crit-
ical technologies for which the United States
is a leading producer; and
‘‘(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) RELEASE OF UNCLASSIFIED STUDY.—
All appropriate portions of the annual report
under paragraph (1) may be classified. An un-
classified version of the report, as appropriate,
consistent with safeguarding national security
and privacy, shall be made available to the pub-
lic.’’.
(c) STUDY AND REPORT.—
(1) STUDY
REQUIRED.—Before the end of the
120-day period beginning on the date of enactment of
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‘‘(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.—
‘‘(1) IN GENERAL.—The President shall direct,
subject to notice and comment, the issuance of regula-
tions to carry out this section.
‘‘(2) 
EFFECTIVE
DATE.—Regulations 
issued
under this section shall become effective not later than
180 days after the effective date of the Foreign Invest-
ment and National Security Act of 2007.
‘‘(3) CONTENT.—Regulations issued under this
subsection shall—
‘‘(A) provide for the imposition of civil pen-
alties for any violation of this section, including
any mitigation agreement entered into or condi-
tions imposed pursuant to subsection (l);
‘‘(B) to the extent possible—
‘‘(i) minimize paperwork burdens; and
‘‘(ii) coordinate reporting requirements
under this section with reporting require-
ments under any other provision of Federal
law; and
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‘‘(C) provide for an appropriate role for the
Secretary of Labor with respect to mitigation
agreements.’’.
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, enforcement
measure, or review provided by or established under any
other provision of Federal law, including the International
Emergency Economic Powers Act, or any other authority
of the President or the Congress under the Constitution of
the United States.’’.
SEC. 11. CLERICAL AMENDMENTS.
(a) TITLE 31.—Section 301(e) of title 31, United
States Code, is amended by striking ‘‘8 Assistant’’ and in-
serting ‘‘9 Assistant’’.
(b) TITLE 5.—Section 5315 of title 5, United States
Code, is amended in the item relating to ‘‘Assistant Secre-
taries of the Treasury’’, by striking ‘‘(8)’’ and inserting
‘‘(9)’’.
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SEC. 12. EFFECTIVE DATE.
The amendments made by this Act shall apply after
the end of the 90-day period beginning on the date of enact-
ment of this Act.
Attest:
Secretary.