Safe and Accountable Foreign Enterprises Proving Other Requirements To Secure (SAFE PORTS) Act

Bill: 109-hr-4814
Sponsor: Rep. Garrett, Scott [R-NJ-5]
Introduced: 2006-02-28 in the House
Policy area: Foreign Trade and International Finance
Subjects: Armed Forces and National Security
Commerce
Congress
Congressional reporting requirements
Corporate mergers
Crime and Law Enforcement
Dubai Ports World aftermath legislation
Foreign corporations
Foreign investments
Governmental investigations
International Affairs
Terrorism

Summary:
action_date: 2006-02-28
text: 
Safe and Accountable Foreign Enterprises Proving Other Requirements To Secure (SAFE PORTS) Act - Amends the Defense Production Act of 1950 to prohibit a proposed corporate merger, acquisition, or takeover (transaction) in the United States by or with a foreign interest which could result in foreign control unless the President has determined that: (1) there is no credible evidence to believe that the foreign interest might take action that would threaten to impair U.S. national security; and (2) provisions of law other than the Defense Production Act of 1950 and the International Emergency Economic Powers Act provide adequate and appropriate authority for the President to protect the national security with respect to the proposed transaction. States that: (1) if the President is unable to make such a determination, then an investigation of the proposed transaction shall be made; and (2) a presidential determination shall not be subject to judicial review. Requires quarterly reports from the President to Congress on actions taken with respect to proposed transactions.


Legislative actions:
action_date: 2006-03-21
text: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
action_date: 2006-03-17
text: Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman.
action_date: 2006-02-28
text: 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 committee concerned.
action_date: 2006-02-28
text: 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 committee concerned.
action_date: 2006-02-28
text: 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 committee concerned.
action_date: 2006-02-28
text: 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 committee concerned.
action_date: 2006-02-28
text: Introduced in House
action_date: 2006-02-28
text: Introduced in House