I 
109TH CONGRESS 
2D SESSION 
H. R. 4917 
To amend the Defense Production Act of 1950 to require notification to 
Congress after receipt of written notification of proposed or pending 
mergers, acquisitions, or takeovers subject to investigation under such 
Act, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 9, 2006 
Mr. BARROW (for himself, Mr. THOMPSON of Mississippi, and Mr. SKELTON) 
introduced the following bill; which was referred to the Committee on Fi-
nancial Services, and in addition to the Committees on International Re-
lations, Energy and Commerce, and Homeland Security, for a period to 
be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To amend the Defense Production Act of 1950 to require 
notification to Congress after receipt of written notifica-
tion of proposed or pending mergers, acquisitions, or 
takeovers subject to investigation under such Act, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Protect America First 
Act of 2006’’. 
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SEC. 2. AMENDMENTS TO THE DEFENSE PRODUCTION ACT 
OF 1950. 
(a) NOTIFICATION TO CONGRESS.—Section 721(c) of 
the Defense Production Act of 1950 (50 U.S.C. App. 
2170(c)) is amended— 
(1) in the heading, by inserting ‘‘NOTIFICATION 
REQUIREMENTS;’’ before ‘‘CONFIDENTIALITY’’; 
(2) by inserting after the heading the following 
new paragraph: 
‘‘(1) NOTIFICATION TO CONGRESS.— 
‘‘(A) RECEIPT
OF
WRITTEN
NOTIFICA-
TION.—Not later than five days after receipt of 
written notification of a proposed or pending 
merger, acquisition, or takeover that may be 
subject to an investigation under subsection (a) 
or is subject to an investigation under sub-
section (b), the President or the President’s 
designee shall provide notice of the receipt of 
such written notification to the Members of 
Congress specified in subparagraph (D). 
‘‘(B) 
COMMENCEMENT
OF
INVESTIGA-
TION.—Not later than one day after com-
mencing an investigation under subsection (a) 
or (b), the President or the President’s designee 
shall provide notice of the investigation and rel-
evant information regarding the proposed or 
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pending merger, acquisition, or takeover, in-
cluding relevant ownership records, to the Mem-
bers of Congress specified in subparagraph (D). 
‘‘(C) ACCESS
TO
INVESTIGATION.—The 
President or the President’s designee shall— 
‘‘(i) provide responses in a timely 
manner to any inquiries made by the Mem-
bers of Congress specified in subparagraph 
(D) regarding an investigation carried out 
under subsection (a) or (b); and 
‘‘(ii) notify such Members of Congress 
promptly of the decision of the President 
or the President’s designee upon comple-
tion of the investigation. 
‘‘(D) 
MEMBERS
OF
CONGRESS.—The 
Members of Congress referred to in this para-
graph are the following: 
‘‘(i) The Speaker and Minority Leader 
of the House of Representatives. 
‘‘(ii) The Majority and Minority Lead-
er of the Senate. 
‘‘(iii) The Chairmen and Ranking 
Members of the Committee on Financial 
Services, the Committee on Homeland Se-
curity, the Committee on Armed Services, 
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the Committee on Energy and Commerce, 
the Committee on Transportation and In-
frastructure, and the Permanent Select 
Committee on Intelligence of the House of 
Representatives. 
‘‘(iv) The Chairmen and Ranking 
Members of the Committee on Finance, 
the Committee on Homeland Security and 
Governmental Affairs, the Committee on 
Armed Services, the Committee on Com-
merce, Science, and Transportation, and 
the Select Committee on Intelligence of the 
Senate. 
‘‘(v) The Senators representing States 
and the Members of Congress representing 
districts affected by the proposed trans-
action.’’; 
(3) by striking ‘‘Any information’’ and inserting 
the following new paragraph: 
‘‘(2) CONFIDENTIALITY
OF
INFORMATION.— 
Any information’’; and 
(4) by striking ‘‘Nothing in this subsection’’ 
and inserting ‘‘Nothing in this paragraph’’. 
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(b) TECHNICAL AMENDMENTS.—Section 721 of the 
Defense Production Act of 1950 (50 U.S.C. App. 2170) 
is amended— 
(1) in subsection (d), by striking ‘‘subsection 
(d)’’ and inserting ‘‘subsection (e)’’; 
(2) in subsection (e), by striking ‘‘subsection 
(c)’’ and inserting ‘‘subsection (d)’’; and 
(3) in subsection (g), by striking ‘‘of this Act’’ 
and inserting ‘‘of this section’’. 
(c) EFFECTIVE DATE.—The requirements of section 
721(c)(1) of the Defense Production Act of 1950, as 
added by subsection (a) of this section, apply with respect 
to any written notification of a proposed or pending merg-
er, acquisition, or takeover that may be subject to an in-
vestigation under section 721(a) of such Act or is subject 
to an investigation under section 721(b) of such Act that 
is received on or after the date of the enactment of this 
Act. 
SEC. 3. SENSE OF CONGRESS. 
It is the sense of Congress that— 
(1) the Committee on Foreign Investment in 
the United States (CFIUS), established under Exec-
utive Order 11858 (40 Fed. Reg. 20263), should be 
transferred from the Department of the Treasury to 
the Department of Homeland Security; and 
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(2) the Secretary of Homeland Security should 
serve as the Chairman of CFIUS. 
Æ 
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