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section with respect to the 
transaction on the basis of 
the declaration and that the 
parties may file a written 
notice under clause (i) to 
seek written notification from 
the Committee that the Com-
mittee has completed all ac-
tion under this section with 
respect to the transaction; 
‘‘(CC) initiate a unilat-
eral review of the transaction 
under subparagraph (D); or 
‘‘(DD) notify the parties 
in writing that the Com-
mittee has completed all ac-
tion under this section with 
respect to the transaction. 
‘‘(bb) 
TIMING.—The 
Com-
mittee shall take action under 
item (aa) not later than 30 days 
after 
receiving 
a 
declaration 
under this clause. 
‘‘(cc) RULE
OF
CONSTRUC-
TION.—Nothing in this subclause
845 
† HR 5515 PAP
(other than item (aa)(CC)) shall 
be construed to affect the author-
ity of the President or the Com-
mittee to take any action author-
ized by this section with respect to 
a covered transaction. 
‘‘(IV) 
MANDATORY
DECLARA-
TIONS.— 
‘‘(aa) 
REGULATIONS.—The 
Committee shall prescribe regula-
tions specifying the types of cov-
ered transactions for which the 
Committee requires a declaration 
under this subclause. 
‘‘(bb) 
CERTAIN
COVERED 
TRANSACTIONS
WITH
FOREIGN 
GOVERNMENT INTERESTS.— 
‘‘(AA) IN
GENERAL.— 
Except 
as 
provided 
in 
subitem (BB), the parties to 
a covered transaction shall 
submit a declaration de-
scribed in subclause (I) with 
respect to the transaction if 
the transaction involves an
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investment that results in the 
acquisition, directly or indi-
rectly, of a substantial inter-
est in a United States crit-
ical infrastructure company 
or United States critical 
technology company by a for-
eign person in which a for-
eign government has, directly 
or indirectly, a substantial 
interest. 
‘‘(BB) 
EXCEPTION.— 
The submission of a declara-
tion described in subclause 
(I) shall not be required with 
respect to a transaction de-
scribed in subitem (AA) if 
each foreign person that is a 
party to the transaction, and 
each 
foreign 
person 
with 
ownership or control over a 
party to the transaction, is 
from a country or part of a 
country identified by the
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† HR 5515 PAP
Committee under subsection 
(a)(5)(C)(iii). 
‘‘(CC) SUBSTANTIAL IN-
TEREST
DEFINED.—In this 
item, the term ‘substantial 
interest’ has the meaning 
given that term in regula-
tions which the Committee 
shall prescribe. In developing 
those regulations, the Com-
mittee 
shall 
consider 
the 
means by which a foreign 
government could influence 
the actions of a foreign per-
son, including through board 
membership, ownership in-
terest, or shareholder rights. 
An interest that is a passive 
investment (as defined in 
subsection (a)(5)(D)) or that 
is less than a 10 percent vot-
ing interest shall not be con-
sidered a substantial interest. 
‘‘(cc) OTHER DECLARATIONS 
REQUIRED
BY
COMMITTEE.—The
848 
† HR 5515 PAP
Committee shall require the sub-
mission of a declaration described 
in subclause (I) with respect to 
any covered transaction identified 
under regulations prescribed by 
the Committee for purposes of this 
item, at the discretion of the Com-
mittee and based on appropriate 
factors, such as— 
‘‘(AA) the technology, 
industry, economic sector, or 
economic subsector in which 
the United States business 
that is a party to the trans-
action trades or of which it 
is a part; 
‘‘(BB) the difficulty of 
remedying the harm to na-
tional security that may re-
sult from completion of the 
transaction; 
‘‘(CC) the difficulty of 
obtaining information on the 
type of covered transaction 
through other means; and
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† HR 5515 PAP
‘‘(DD) the difficulty of 
obtaining information on the 
ultimate ownership of the 
foreign person that is a 
party to the transaction. 
‘‘(dd) EXCEPTION.—The sub-
mission of a declaration described 
in subclause (I) shall not be re-
quired pursuant to this subclause 
with respect to an investment by 
an investment fund if— 
‘‘(AA) the fund is man-
aged exclusively by a general 
partner, a managing mem-
ber, or an equivalent; 
‘‘(BB) the general part-
ner, managing member, or 
equivalent is not a foreign 
person; and 
‘‘(CC) 
the 
investment 
fund satisfies, with respect to 
any 
foreign 
person 
with 
membership as a limited 
partner 
on 
an 
advisory 
board or a committee of the
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† HR 5515 PAP
fund, the criteria specified in 
items (cc) and (dd) of sub-
section (a)(5)(D)(iv). 
‘‘(ee) SUBMISSION OF WRIT-
TEN
NOTICE
AS
AN
ALTER-
NATIVE.—Parties to a covered 
transaction for which a declara-
tion is required under this sub-
clause may instead elect to submit 
a written notice under clause (i). 
‘‘(ff) TIMING
OF
SUBMIS-
SION.— 
‘‘(AA) IN GENERAL.—A 
declaration required to be 
submitted with respect to a 
covered transaction by this 
subclause shall be submitted 
not later than 45 days before 
the completion of the trans-
action. 
‘‘(BB) 
WRITTEN
NO-
TICE.—If, pursuant to item 
(ee), the parties to a covered 
transaction elect to submit a 
written notice under clause
851 
† HR 5515 PAP
(i) instead of a declaration 
under this subclause, the 
written notice shall be filed 
not later than 90 days before 
the completion of the trans-
action. 
‘‘(gg) 
PENALTIES.—The 
Committee may impose a penalty 
pursuant to subsection (h)(3) with 
respect to a party that fails to 
comply with this subclause.’’. 
SEC. 1707. STIPULATIONS REGARDING TRANSACTIONS. 
Section 721(b)(1)(C) of the Defense Production Act of 
1950 (50 U.S.C. 4565(b)(1)(C)), as amended by section 
1706, is further amended by adding at the end the fol-
lowing: 
‘‘(vi) 
STIPULATIONS
REGARDING 
TRANSACTIONS.— 
‘‘(I) IN GENERAL.—In a written 
notice submitted under clause (i) or a 
declaration submitted under clause (v) 
with respect to a transaction, a party 
to the transaction may—
852 
† HR 5515 PAP
‘‘(aa) 
stipulate 
that 
the 
transaction is a covered trans-
action; and 
‘‘(bb) if the party stipulates 
that the transaction is a covered 
transaction under item (aa), stip-
ulate that the transaction is a for-
eign government-controlled trans-
action. 
‘‘(II) BASIS FOR STIPULATION.— 
A written notice submitted under 
clause (i) or a declaration submitted 
under clause (v) that includes a stipu-
lation under subclause (I) shall include 
a description of the basis for the stipu-
lation.’’. 
SEC. 1708. AUTHORITY FOR UNILATERAL INITIATION OF RE-
VIEWS. 
Section 721(b)(1) of the Defense Production Act of 
1950 (50 U.S.C. 4565(b)(1)) is amended— 
(1) by redesignating subparagraphs (E) and (F) 
as subparagraphs (F) and (G), respectively; 
(2) in subparagraph (D)—
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† HR 5515 PAP
(A) in the matter preceding clause (i), by 
striking ‘‘subparagraph (F)’’ and inserting ‘‘sub-
paragraph (G)’’; 
(B) in clause (i), by inserting ‘‘(other than 
a covered transaction described in subparagraph 
(E))’’ after ‘‘any covered transaction’’; 
(C) by striking clause (ii) and inserting the 
following: 
‘‘(ii) any covered transaction described 
in subparagraph (E), if any party to the 
transaction submitted false or misleading 
material information to the Committee in 
connection with the Committee’s consider-
ation of the transaction or omitted material 
information, including material documents, 
from information submitted to the Com-
mittee; or’’; and 
(D) in clause (iii)— 
(i) in the matter preceding subclause 
(I), by striking ‘‘any covered transaction 
that has previously been reviewed or inves-
tigated under this section,’’ and inserting 
‘‘any covered transaction described in sub-
paragraph (E),’’;
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† HR 5515 PAP
(ii) in subclause (I), by striking ‘‘in-
tentionally’’; 
(iii) in subclause (II), by striking ‘‘an 
intentional’’ and inserting ‘‘a’’; and 
(iv) in subclause (III), by inserting 
‘‘adequate and appropriate’’ before ‘‘rem-
edies or enforcement tools’’; and 
(3) by inserting after subparagraph (D) the fol-
lowing: 
‘‘(E) 
COVERED
TRANSACTIONS
DE-
SCRIBED.—A covered transaction is described in 
this subparagraph if— 
‘‘(i) the Committee has informed the 
parties to the transaction in writing that 
the Committee has completed all action 
under this section with respect to the trans-
action; or 
‘‘(ii) the President has announced a 
decision not to exercise the President’s au-
thority under subsection (d) with respect to 
the transaction.’’. 
SEC. 1709. TIMING FOR REVIEWS AND INVESTIGATIONS. 
Section 721(b) of the Defense Production Act of 1950 
(50 U.S.C. 4565(b)), as amended by section 1708, is further 
amended—
855 
† HR 5515 PAP
(1) in paragraph (1)(F), by striking ‘‘30’’ and 
inserting ‘‘45’’; 
(2) in paragraph (2), by striking subparagraph 
(C) and inserting the following: 
‘‘(C) TIMING.— 
‘‘(i) IN GENERAL.—Except as provided 
in clause (ii), any investigation under sub-
paragraph (A) shall be completed before the 
end of the 45-day period beginning on the 
date on which the investigation commenced. 
‘‘(ii) EXTENSION FOR EXTRAORDINARY 
CIRCUMSTANCES.— 
‘‘(I) IN
GENERAL.—In extraor-
dinary circumstances (as defined by 
the Committee in regulations), the 
chairperson may, at the request of the 
head of the lead agency, extend an in-
vestigation under subparagraph (A) for 
one 30-day period. 
‘‘(II) NONDELEGATION.—The au-
thority of the chairperson and the head 
of the lead agency referred to in sub-
clause (I) may not be delegated to any 
person other than the Deputy Secretary 
of the Treasury or the deputy head (or
856 
† HR 5515 PAP
equivalent thereof) of the lead agency, 
as the case may be. 
‘‘(III) NOTIFICATION
TO
PAR-
TIES.—If the Committee extends the 
deadline under subclause (I) with re-
spect to a covered transaction, the 
Committee shall notify the parties to 
the transaction of the extension.’’; and 
(3) by adding at the end the following: 
‘‘(8) TOLLING OF DEADLINES DURING LAPSE IN 
APPROPRIATIONS.—Any deadline or time limitation 
under this subsection shall be tolled during a lapse in 
appropriations.’’. 
SEC. 1710. MONITORING OF NON-NOTIFIED AND NON-DE-
CLARED TRANSACTIONS. 
Section 721(b)(1) of the Defense Production Act of 
1950 (50 U.S.C. 4565(b)(1)), as amended by sections 1708 
and 1709, is further amended by adding at the end the fol-
lowing: 
‘‘(H) MONITORING
OF
NON-NOTIFIED
AND 
NON-DECLARED TRANSACTIONS.—The Committee 
shall establish a mechanism to identify covered 
transactions for which— 
‘‘(i) a notice under clause (i) of sub-
paragraph (C) or a declaration under
857 
† HR 5515 PAP
clause (v) of that subparagraph is not sub-
mitted to the Committee; and 
‘‘(ii) information is reasonably avail-
able.’’. 
SEC. 1711. SUBMISSION OF CERTIFICATIONS TO CONGRESS. 
Section 721(b)(3)(C) of the Defense Production Act of 
1950 (50 U.S.C. 4565(b)(3)(C)) is amended— 
(1) in clause (iii)— 
(A) in subclause (II), by inserting ‘‘and the 
Select Committee on Intelligence’’ after ‘‘Urban 
Affairs’’; and 
(B) in subclause (IV), by inserting ‘‘and the 
Permanent Select Committee on Intelligence’’ 
after ‘‘Financial Services’’; 
(2) in clause (iv), by striking subclause (II) and 
inserting the following: 
‘‘(II) DELEGATION
OF
CERTIFI-
CATIONS.— 
‘‘(aa) IN GENERAL.—Subject 
to item (bb), the chairperson, in 
consultation with the Committee, 
may determine the level of official 
to whom the signature require-
ment under subclause (I) for the 
chairperson and the head of the
858 
† HR 5515 PAP
lead agency may be delegated. The 
level of official to whom the signa-
ture requirement may be delegated 
may differ based on any factor re-
lating to a transaction that the 
chairperson, in consultation with 
the 
Committee, 
deems 
appro-
priate, including the type or value 
of the transaction. 
‘‘(bb) LIMITATION ON DELE-
GATION WITH RESPECT TO CER-
TAIN TRANSACTIONS.—The signa-
ture requirement under subclause 
(I) may be delegated not below the 
level of the Assistant Secretary of 
the Treasury or an equivalent of-
ficial of the lead agency in the 
case of a covered transaction— 
‘‘(AA) assessed by the 
Director of National Intel-
ligence under paragraph (4) 
as more likely than not to 
threaten the national secu-
rity of the United States;
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† HR 5515 PAP
‘‘(BB) with respect to 
which the Committee con-
ducts an investigation under 
paragraph (2); or 
‘‘(CC) with respect to 
which a request is made by 
an official at the Deputy As-
sistant Secretary or Assistant 
Secretary level of an agency 
or department represented on 
the Committee, or an equiva-
lent thereof, that the trans-
action be reviewed by the As-
sistant 
Secretary 
of 
the 
Treasury and an equivalent 
official of the lead agency. 
‘‘(cc) LIMITATION ON DELE-
GATION WITH RESPECT TO OTHER 
TRANSACTIONS.—In the case of 
any covered transaction not de-
scribed in item (bb), the signature 
requirement under subclause (I) 
may be delegated not below the 
level of a Deputy Assistant Sec-
retary of the Treasury or an
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† HR 5515 PAP
equivalent official of the lead 
agency.’’; and 
(3) by adding at the end the following: 
‘‘(v) 
AUTHORITY
TO
CONSOLIDATE 
DOCUMENTS.—Instead of transmitting a 
separate certified notice or certified report 
under subparagraph (A) or (B) with respect 
to each covered transaction, the Committee 
may, on a monthly basis, transmit such no-
tices and reports in a consolidated docu-
ment to the Members of Congress specified 
in clause (iii).’’. 
SEC. 1712. ANALYSIS BY DIRECTOR OF NATIONAL INTEL-
LIGENCE. 
Section 721(b)(4) of the Defense Production Act of 
1950 (50 U.S.C. 4565(b)(4)) is amended— 
(1) by striking subparagraph (A) and inserting 
the following: 
‘‘(A) ANALYSIS REQUIRED.— 
‘‘(i) IN GENERAL.—Except as provided 
in subparagraph (B), 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 covered transaction, which shall in-
861 
† HR 5515 PAP
clude the identification of any recognized 
gaps in the collection of intelligence relevant 
to the analysis. 
‘‘(ii) VIEWS OF INTELLIGENCE COMMU-
NITY.—The Director shall seek and incor-
porate into the analysis required by clause 
(i) the views of all affected or appropriate 
agencies of the intelligence community with 
respect to the transaction. 
‘‘(iii) UPDATES.—At the request of the 
lead agency, the Director shall update the 
analysis conducted under clause (i) with re-
spect to a covered transaction with respect 
to which an agreement was entered into 
under subsection (l)(3)(A). 
‘‘(iv) 
INDEPENDENCE
AND
OBJEC-
TIVITY.—The Committee shall ensure that 
its processes under this section preserve the 
ability of the Director to conduct analysis 
under clause (i) that is independent, objec-
tive, and consistent with all applicable di-
rectives, policies, and analytic tradecraft 
standards of the intelligence community.’’;
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Navy: Outside the United States—Continued 
Country 
Installation or Location 
Amount 
Japan ...........................
Kadena Air Base ...............................................
$9,049,000 
SEC. 2202. FAMILY HOUSING. 
(a) 
CONSTRUCTION
AND
ACQUISITION.—Using 
amounts appropriated pursuant to the authorization of ap-
propriations in section 2204(a) and available for military 
family housing functions as specified in the funding table 
in section 4601, the Secretary of the Navy may construct 
or acquire family housing units (including land acquisition 
and supporting facilities) at the installation or location, 
in the number of units, and in the amount set forth in the 
following table: 
Navy: Family Housing 
State 
Installation or Location 
Units 
Amount 
Guam ..............
Joint Region Marianas ............
Replace Andersen 
Housing PH 
III.
$83,441,000 
(b) PLANNING AND DESIGN.—Using amounts appro-
priated pursuant to the authorization of appropriations in 
section 2204(a) and available for military family housing 
functions as specified in the funding table in section 4601, 
the Secretary of the Navy may carry out architectural and 
engineering services and construction design activities with 
respect to the construction or improvement of family hous-
ing units in an amount not to exceed $4,502,000.
939 
† HR 5515 PAP
SEC. 2203. IMPROVEMENTS TO MILITARY FAMILY HOUSING 
UNITS. 
Subject to section 2825 of title 10, United States Code, 
and using amounts appropriated pursuant to the author-
ization of appropriations in section 2204(a) and available 
for military family housing functions as specified in the 
funding table in section 4601, the Secretary of the Navy 
may improve existing military family housing units in an 
amount not to exceed $16,638,000. 
SEC. 2204. AUTHORIZATION OF APPROPRIATIONS, NAVY. 
(a) AUTHORIZATION OF APPROPRIATIONS.—Funds are 
hereby authorized to be appropriated for fiscal years begin-
ning after September 30, 2018, for military construction, 
land acquisition, and military family housing functions of 
the Department of the Navy, as specified in the funding 
table in section 4601. 
(b) LIMITATION ON TOTAL COST OF CONSTRUCTION 
PROJECTS.—Notwithstanding the cost variations author-
ized by section 2853 of title 10, United States Code, and 
any other cost variation authorized by law, the total cost 
of all projects carried out under section 2201 of this Act 
may not exceed the total amount authorized to be appro-
priated under subsection (a), as specified in the funding 
table in section 4601.