IB 
Union Calendar No. 329 
109TH CONGRESS 
2D SESSION 
H. R. 5337 
[Report No. 109–523, Parts I and II] 
To ensure national security while promoting foreign investment and the cre-
ation and maintenance of jobs, to reform the process by which such 
investments are examined for any effect they may have on national 
security, to establish the Committee on Foreign Investment in the United 
States, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 10, 2006 
Mr. BLUNT (for himself, Ms. PRYCE of Ohio, Mrs. MALONEY, Mr. CROWLEY, 
Mr. KING of New York, Mr. HOEKSTRA, Mr. BARTON of Texas, Mr. 
SMITH of Texas, Mr. YOUNG of Alaska, Mr. MANZULLO, Mr. REYNOLDS, 
Mr. BAKER, Mr. BACHUS, Mr. NEY, Mrs. KELLY, Mr. FOLEY, Mr. 
FOSSELLA, Mrs. BIGGERT, Mrs. MYRICK, Mr. DOOLITTLE, Ms. HARRIS, 
Mr. SHAYS, and Mr. MCCOTTER) introduced the following bill; which was 
referred to the Committee on Financial Services, and in addition to the 
Committees on Energy and Commerce and International Relations, for a 
period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
JUNE 22, 2006 
Reported from the Committee on Financial Services with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
JUNE 22, 2006 
Referral to Committees on International Relations and Energy and Commerce 
extended for a period ending not later than July 17, 2006 
JULY 17, 2006 
Additional sponsors: Mr. CAMP of Michigan, Mr. CLAY, Mr. FORD, Mr. 
MEEKS of New York, Mr. MOORE of Kansas, Ms. ROS-LEHTINEN, Mr. 
SCOTT of Georgia, Mr. SESSIONS, Mr. STEARNS, Mr. WAMP, Mr. DAVIS 
of Alabama, Ms. HOOLEY, Ms. BEAN, Mr. COBLE, Mr. FEENEY, Mr. 
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LEACH, Mr. MATHESON, Ms. CARSON, Mr. ENGLISH of Pennsylvania, 
Mr. ISRAEL, Ms. MOORE of Wisconsin, Mr. SHUSTER , Mr. CAMPBELL 
of California, Mr. OWENS, Mr. MCHENRY, Mr. RANGEL, Mr. TIAHRT, 
Mr. TIBERI, Ms. VELA´ZQUEZ, Mr. WATT, Mrs. CUBIN, Mr. HASTINGS of 
Florida, Mr. HINOJOSA, Mr. AL GREEN of Texas, Mr. GARRETT of New 
Jersey, Mr. REICHERT, Ms. WASSERMAN SCHULTZ, Mr. BISHOP of New 
York, Mr. CLEAVER, Mr. GUTIERREZ, Ms. LEE, Mr. MEEK of Florida, 
Mr. LUCAS, Mr. LYNCH, Mr. MILLER of North Carolina, Mr. GILLMOR, 
Mr. PRICE of Georgia, Mr. LATOURETTE, Mr. GENE GREEN of Texas, 
Ms. HARMAN, Mr. PEARCE, Mr. THOMPSON of Mississippi, Mr. BACA, 
Mrs. MCCARTHY, Mr. CUMMINGS, Mr. GARY G. MILLER of California, 
Mr. BRADLEY of New Hampshire, Mr. VAN HOLLEN, Mr. TOWNS, Mr. 
KUHL of New York, Mr. SULLIVAN, Mr. MELANCON, Mr. MURPHY, Mr. 
NUNES, and Mr. TERRY 
JULY 17, 2006 
Reported from the Committee on Energy and Commerce with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
JULY 17, 2006 
Committee on International Relations discharged; committed to the Committee 
of the Whole House on the State of the Union and ordered to be printed 
[For text of introduced bill, see copy of bill as introduced on May 10, 2006] 
A BILL 
To ensure national security while promoting foreign invest-
ment and the creation and maintenance of jobs, to re-
form the process by which such investments are exam-
ined for any effect they may have on national security, 
to establish the Committee on Foreign Investment in 
the United States, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SEC. 1. SHORT TITLE. 
This Act may be cited as the ‘‘National Security For-
eign Investment Reform and Strengthened Transparency 
Act of 2006’’. 
SEC. 2. UNITED STATES SECURITY IMPROVEMENT AMEND-
MENTS; CLARIFICATION OF REVIEW AND IN-
VESTIGATION PROCESS. 
Section 721 of the Defense Production Act of 1950 (50 
U.S.C. App. 2170) is amended by striking subsections (a) 
and (b) and inserting the following new subsections: 
‘‘(a) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
‘‘(1) COMMITTEE.—The term ‘Committee’ means 
the Committee on Foreign Investment in the United 
States. 
‘‘(2) CONTROL.—The term ‘control’ has the 
meaning given to such term in regulations which the 
Committee shall prescribe. 
‘‘(3) COVERED TRANSACTION.—The term ‘covered 
transaction’ means any merger, acquisition, or take-
over by or with any foreign person which could result 
in foreign control of any person engaged in interstate 
commerce in the United States. 
‘‘(4) 
FOREIGN
GOVERNMENT-CONTROLLED 
TRANSACTION.—The term ‘foreign government-con-
trolled transaction’ means any covered transaction 
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that could result in the control of any person engaged 
in interstate commerce in the United States by a for-
eign government or an entity controlled by or acting 
on behalf of a foreign government. 
‘‘(5) CLARIFICATION.—The term ‘national secu-
rity’ shall be construed so as to include those issues 
relating to ‘homeland security’, including its applica-
tion to critical infrastructure (as defined in the 
Homeland Security Act of 2002). 
‘‘(b) NATIONAL SECURITY REVIEWS AND INVESTIGA-
TIONS.— 
‘‘(1) NATIONAL SECURITY REVIEWS.— 
‘‘(A) IN GENERAL.—Upon receiving written 
notification under subparagraph (C) of any cov-
ered transaction, or on a motion made under 
subparagraph (D) with respect to any covered 
transaction, the President, acting through the 
Committee, shall review the covered transaction 
to determine whether the transaction threatens to 
impair the national security of the United States 
and whether such threat can be mitigated. 
‘‘(B) 
CONTROL
BY
FOREIGN
GOVERN-
MENT.—If the Committee determines that the 
covered transaction is a foreign government-con-
trolled transaction, the Committee shall conduct 
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an investigation of the transaction under para-
graph (2). 
‘‘(C) WRITTEN NOTICE.— 
‘‘(i) IN GENERAL.—Any party to any 
covered transaction may initiate a review of 
the transaction under this paragraph by 
submitting a written notice of the trans-
action to the Chairperson of the Committee. 
‘‘(ii) WITHDRAWAL
OF
NOTICE.—No 
covered transaction for which a notice was 
submitted under clause (i) may be with-
drawn from review unless— 
‘‘(I) a written request for such 
withdrawal is submitted by any party 
to the transaction; and 
‘‘(II) the request is approved in 
writing by the Chairperson, in con-
sultation with the Vice Chairperson, of 
the Committee. 
‘‘(D) 
UNILATERAL
INITIATION
OF
RE-
VIEW.—The President, the Committee, or any 
member of the Committee may move to initiate 
a review under subparagraph (A) of— 
‘‘(i) any covered transaction; 
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‘‘(ii) any covered transaction that has 
previously been reviewed or investigated 
under this section, if any party to the 
transaction submitted false or misleading 
material information to the Committee in 
connection with the review or investigation 
or omitted material information, including 
material documents, from information sub-
mitted to the Committee; or 
‘‘(iii) any covered transaction that has 
previously been reviewed or investigated 
under this section, if any party to the 
transaction or the entity resulting from con-
summation of the transaction intentionally 
materially breaches a mitigation agreement 
or 
condition 
described 
in 
subsection 
(l)(1)(A), and— 
‘‘(I) such breach is certified by the 
lead department or agency monitoring 
and enforcing such agreement or condi-
tion as an intentional material breach; 
and 
‘‘(II) such department or agency 
certifies that there is no other remedy 
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or enforcement tool available to address 
such breach. 
‘‘(E) TIMING.—Any review under this para-
graph shall be completed before the end of the 30- 
day period beginning on the date of the receipt 
of written notice under subparagraph (C) by the 
Chairperson of the Committee, or the date of the 
initiation of the review in accordance with a 
motion under subparagraph (D). 
‘‘(2) NATIONAL SECURITY INVESTIGATIONS.— 
‘‘(A) 
IN
GENERAL.—In 
each 
case 
in 
which— 
‘‘(i) a review of a covered transaction 
under paragraph (1) results in a deter-
mination that— 
‘‘(I) the transaction threatens to 
impair the national security of the 
United States and that threat has not 
been mitigated during or prior to the 
review of a covered transaction under 
paragraph (1); or 
‘‘(II) the transaction is a foreign 
government-controlled transaction; or 
‘‘(ii) the Director of National Intel-
ligence identifies particularly complex na-
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tional security or intelligence issues that 
could threaten to impair the national secu-
rity of the United States and Committee 
members were not able to develop and agree 
upon measures to mitigate satisfactorily 
those threats during the initial review pe-
riod under paragraph (1), 
the President, acting through the Committee, 
shall immediately conduct an investigation of 
the effects of the transaction on the national se-
curity of the United States and take any nec-
essary actions in connection with the transaction 
to protect the national security of the United 
States. 
‘‘(B) TIMING.— 
‘‘(i) IN GENERAL.—Any investigation 
under subparagraph (A) shall be completed 
before the end of the 45-day period begin-
ning on the date of the investigation com-
menced. 
‘‘(ii) EXTENSIONS OF TIME.—The pe-
riod established under subparagraph (B) for 
any investigation of a covered transaction 
may be extended with respect to any par-
ticular investigation by the President or by 
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a rollcall vote of at least 2/3 of the members 
of the Committee involved in the investiga-
tion by the amount of time specified by the 
President or the Committee at the time of 
the extension, not to exceed 45 days, as nec-
essary to collect and fully evaluate informa-
tion relating to— 
‘‘(I) the covered transaction or 
parties to the transaction; and 
‘‘(II) any effect of the transaction 
that could threaten to impair the na-
tional security of the United States. 
‘‘(3) APPROVAL
OF
CHAIRPERSON
AND
VICE 
CHAIRPERSON REQUIRED.— 
‘‘(A) IN GENERAL.—A review or investiga-
tion under this subsection of a covered trans-
action shall not be treated as final or complete 
until the findings and the report resulting from 
such review or investigation are approved and 
signed by both the Secretary of the Treasury and 
the Secretary of Homeland Security (and such 
authority of each such Secretary may not be del-
egated to any person other than the Deputy Sec-
retary of the Treasury or the Deputy Secretary 
of Homeland Security, respectively). 
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‘‘(B) ADDITIONAL
ACTIONS
REQUIRED
IN 
CERTAIN CASES.—In the case of an investigation 
under paragraph (2) of any foreign government- 
controlled transaction, an investigation shall not 
be treated as final or complete until the findings 
and report resulting from such investigation— 
‘‘(i) are approved by a majority of the 
members of the Committee in a roll call 
vote; and 
‘‘(ii) in the case of any roll call vote 
pursuant to clause (i) in which there is at 
least 1 vote by a Committee member against 
approving a foreign government-controlled 
transaction, are signed by the President (in 
addition to the Chairperson and the Vice 
Chairperson of the Committee under sub-
paragraph (A)). 
‘‘(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 of any covered 
transaction, including making requests for infor-
mation to the Director of the Office of Foreign 
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Assets Control within the Department of the 
Treasury and the Director of the Financial 
Crimes Enforcement Network. The Director of 
National Intelligence also shall seek and incor-
porate the views of all appropriate intelligence 
agencies, including in particular the Defense In-
telligence Agency. 
‘‘(B) 30-DAY
MINIMUM.—The Director of 
National Intelligence shall be provided no less 
than 30 days to complete the analysis required 
under subparagraph (A), except in any instance 
described in paragraph (2)(A)(ii). 
‘‘(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 pro-
vide analysis under subparagraph (A) in connec-
tion with a covered transaction. 
‘‘(5) RESUBMITTALS OF NOTICE AND REQUESTS 
FOR ADDITIONAL REVIEW OR INVESTIGATION.— 
‘‘(A) IN
GENERAL.—No provision of this 
subsection shall be construed as prohibiting any 
party to a covered transaction from— 
‘‘(i) submitting additional information 
concerning the transaction, including any 
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proposed restructuring of the transaction or 
any modifications to any agreements in 
connection with the transaction, while any 
review or investigation of the transaction is 
on-going; or 
‘‘(ii) requesting a review or investiga-
tion of the transaction after any previous 
review or investigation of the same or a 
similar transaction has become final if in-
formation material to the prior review or 
investigation and not previously submitted 
to the Committee becomes known or if any 
material change in circumstances to the 
covered transaction has occurred since the 
review or investigation. 
‘‘(B) APPROVAL OF REQUEST.—In the case 
of a request referred to in subparagraph (A)(ii), 
the Committee shall determine by consensus 
whether to grant a request. 
‘‘(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 Committee; 
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‘‘(B) submitting a request to withdraw a 
proposed or pending covered transaction from re-
view; 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 Produc-
tion Act of 1950 (50 U.S.C. App. 2170) is amended by strik-
ing subsection (k) and inserting the following new sub-
section: 
‘‘(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. 
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‘‘(C) The Secretary of Commerce. 
‘‘(D) The Secretary of Defense. 
‘‘(E) The Secretary of State. 
‘‘(F) The Attorney General. 
‘‘(G) The Chairman of the Council of Eco-
nomic Advisors. 
‘‘(H) The United States Trade Representa-
tive. 
‘‘(I) The Director of the Office of Manage-
ment and Budget. 
‘‘(J) The Director of the National Economic 
Council. 
‘‘(K) The Director of the Office of Science 
and Technology Policy. 
‘‘(L) The President’s Assistant for National 
Security Affairs. 
‘‘(M) Any other designee of the President 
from the Executive Office of the President. 
‘‘(3) CHAIRPERSON; VICE
CHAIRPERSON.—The 
Secretary of the Treasury shall be the Chairperson of 
the Committee. The Secretary of Homeland Security 
shall be the Vice Chairperson of the Committee. 
‘‘(4) OTHER
MEMBERS.—Subject to subsection 
(b)(4)(B), the Chairperson of the Committee shall in-
volve the heads of such other Federal departments, 
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agencies, and independent establishments in any re-
view or investigation under subsection (b) as the 
Chairperson, after consulting with the Vice Chair-
person, determines to be appropriate on the basis of 
the facts and circumstances of the transaction under 
investigation (or the designee of any such department 
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 other-
wise applicable). 
‘‘(6) COLLECTION OF EVIDENCE.—Subject to sub-
section (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-
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retary of the Treasury for each of fiscal years 2007, 
2008, 2009, and 2010, expressly and solely for the op-
erations 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 Production 
Act of 1950 (50 U.S.C. App. 2170(c)) is amended— 
(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 
2nd place such term appears and inserting ‘‘, docu-
mentary material, or testimony’’. 
SEC. 4. ADDITIONAL FACTORS REQUIRED TO BE CONSID-
ERED. 
Section 721(f) of the Defense Production Act of 1950 
(50 U.S.C. App. 2170(f)) is amended— 
(1) in the matter preceding paragraph (1)— 
(A) by striking ‘‘may’’ and inserting 
‘‘shall’’; and 
(B) by striking ‘‘among other factors’’; 
(2) by striking ‘‘and’’ at the end of paragraph 
(4); 
(3) by striking the period at the end of para-
graph (5) and inserting a semicolon; and 
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(4) by adding at the end the following new para-
graphs: 
‘‘(6) whether the covered transaction has a secu-
rity-related impact on critical infrastructure in the 
United States; 
‘‘(7) whether the covered transaction is a foreign 
government-controlled transaction; and 
‘‘(8) such other factors as the President or the 
President’s designee may determine to be appropriate, 
generally or in connection with a specific review or 
investigation.’’. 
SEC. 5. NONWAIVER OF SOVEREIGN IMMUNITY. 
Section 721(d) of the Defense Production Act of 1950 
(50 U.S.C. App. 2170(d)) is amended by adding at the end 
the following new sentence: ‘‘The United States shall not 
be held liable for any losses or other expenses incurred by 
any party to a covered transaction as a result of actions 
taken under this section after a covered transaction has been 
consummated if the party did not submit a written notice 
of the transaction to the Chairperson of the Committee 
under subsection (b)(1)(C) or did not wait until the comple-
tion of any review or investigation under subsection (b), 
or the end of the 15-day period referred to in this subsection, 
before consummating the transaction.’’. 
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SEC. 6. MITIGATION, TRACKING, AND POST-CONSUMMA-
TION MONITORING AND ENFORCEMENT. 
Section 721 of the Defense Production Act of 1950 (50 
U.S.C. App. 2170) is amended by inserting after subsection 
(k) (as amended by section 3 of this Act) the following new 
subsection: 
‘‘(l) MITIGATION, TRACKING, AND POSTCONSUMMATION 
MONITORING AND ENFORCEMENT.— 
‘‘(1) MITIGATION.— 
‘‘(A) IN
GENERAL.—The Committee may 
negotiate, enter into or impose, and enforce any 
agreement or condition with any party to a cov-
ered transaction in order to mitigate any threat 
to the national security of the United States. 
‘‘(B) RISK-BASED
ANALYSIS
REQUIRED.— 
Any agreement entered into or condition imposed 
under subparagraph (A) shall be based on a risk- 
based analysis 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-
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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 timeframes 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-
action, before the notice referred to in clause 
(ii) is resubmitted. 
‘‘(B) DESIGNATION OF AGENCY.—The Com-
mittee may designate an appropriate Federal de-
partment or agency, other than any entity of the 
intelligence community (as defined in the Na-
tional Security Act of 1947), as the lead agency 
to carry out the requirements of subparagraph 
(A) with respect to any covered transaction that 
is subject to such subparagraph. 
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‘‘(3) NEGOTIATION, MODIFICATION, MONITORING, 
AND ENFORCEMENT.— 
‘‘(A) DESIGNATION OF AGENCY.—The Com-
mittee shall designate a Federal department or 
agency as the lead agency to negotiate, modify, 
monitor, and enforce any agreement entered into 
or condition imposed under paragraph (1) with 
respect to a covered transaction based on the ex-
pertise with and knowledge of the issues related 
to such transaction on the part of the designated 
department or agency. 
‘‘(B) REPORTING
BY
DESIGNATED
AGEN-
CY.— 
‘‘(i) IMPLEMENTATION REPORTS.—The 
Federal department or agency designated by 
the Committee as a lead agency under sub-
paragraph (A) in connection with any 
agreement entered into or condition im-
posed under paragraph (1) with respect to 
a covered transaction shall— 
‘‘(I) provide periodic reports to 
the Chairperson and Vice Chairperson 
of the Committee on the implementa-
tion of such agreement or condition; 
and 
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‘‘(II) require, as appropriate, any 
party to the covered transaction to re-
port to the head of such department or 
agency (or the designee of such depart-
ment or agency head) on the imple-
mentation or any material change in 
circumstances. 
‘‘(ii) MODIFICATION
REPORTS.—The 
Federal department or agency designated by 
the Committee as a lead agency under sub-
paragraph (A) in connection with any 
agreement entered into or condition im-
posed with respect to a covered transaction 
shall— 
‘‘(I) provide periodic reports to 
the Chairperson and Vice Chairperson 
of the Committee on any modification 
to any such agreement or condition 
imposed with respect to the trans-
action; and 
‘‘(II) ensure that any significant 
modification to any such agreement or 
condition is reported to the Director of 
National Intelligence and to any other 
Federal department or agency that 
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may have a material interest in such 
modification.’’. 
SEC. 7. INCREASED OVERSIGHT BY THE CONGRESS. 
(a) REPORT ON ACTIONS.—Section 721(g) of the De-
fense Production Act of 1950 (50 U.S.C. App. 2170) is 
amended to read as follows: 
‘‘(g) REPORTS TO THE CONGRESS.— 
‘‘(1) REPORTS ON COMPLETED COMMITTEE IN-
VESTIGATIONS.— 
‘‘(A) IN GENERAL.—Not later than 5 days 
after the completion of a Committee investiga-
tion of a covered transaction under subsection 
(b)(2), or, if the President indicates an intent to 
take any action authorized under subsection (d) 
with respect to the transaction, after the end of 
15-day period referred to in subsection (d), the 
Chairperson or Vice Chairperson of the Com-
mittee shall submit a written report on the find-
ings or actions of the Committee with respect to 
such investigation, the determination of whether 
or not to take action under subsection (d), an ex-
planation of the findings under subsection (e), 
and the factors considered under subsection (f), 
with respect to such transaction, to— 
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‘‘(i) the Majority Leader and the Mi-
nority Leader of the Senate; 
‘‘(ii) the Speaker and the Minority 
Leader of the House of Representatives; and 
‘‘(iii) the chairman and ranking mem-
ber of each committee of the House of Rep-
resentatives and the Senate with jurisdic-
tion over any aspect of the covered trans-
action and its possible effects on national 
security. 
‘‘(B) NOTICE
AND
BRIEFING
REQUIRE-
MENT.—If a written request for a briefing on a 
covered transaction is submitted to the Com-
mittee by any Senator or Member of Congress 
who receives a report on the transaction under 
subparagraph (A), the Chairperson or Vice 
Chairperson (or such other person as the Chair-
person or Vice Chairperson may designate) shall 
provide 1 classified briefing to each House of the 
Congress from which any such briefing request 
originates in a secure facility of appropriate size 
and location that shall be open only to the Ma-
jority Leader and the Minority Leader of the 
Senate, the Speaker and the Minority Leader of 
the House of Representatives, (as the case may 
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be) the chairman and ranking member of each 
committee of the House of Representatives or the 
Senate (as the case may be) with jurisdiction 
over any aspect of the covered transaction and 
its possible effects on national security, and ap-
propriate staff members who have security clear-
ance. 
‘‘(2) APPLICATION OF OTHER PROVISION.— 
‘‘(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 or any 
committee of the Congress shall be subject to the 
same limitations on disclosure of information as 
are applicable under such subsection. 
‘‘(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 the Congress and only 
when the committee provides assurances of con-
fidentiality, unless such party otherwise consents 
in writing to such disclosure.’’. 
(b) SEMI-ANNUAL REPORT.—Section 721 of the De-
fense Production Act of 1950 (50 U.S.C. App. 2170) is 
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