Port Operations Require Tough Scrutiny (PORTS) Act of 2006

Bill: 109-hr-4820
Sponsor: Rep. Markey, Edward J. [D-MA-7]
Introduced: 2006-02-28 in the House
Policy area: Foreign Trade and International Finance
Subjects: Armed Forces and National Security
Civil actions and liability
Commerce
Congress
Congressional oversight
Congressional reporting requirements
Congressional veto
Congressional-executive relations
Corporate divestiture
Corporate mergers
Crime and Law Enforcement
Customs administration
Dubai Ports World aftermath legislation
Foreign corporations
Foreign investments
Government Operations and Politics
Government corporations
Government ownership
Governmental investigations
Infrastructure
Infrastructure (Economics)
International Affairs
Law
Legislative resolutions
Marine terminals
Security measures
Stockholders
Terrorism
Transportation and Public Works

Summary:
action_date: 2006-02-28
text: 
Port Operations Require Tough Scrutiny (PORTS) Act of 2006 - Amends the Defense Production Act of 1950 relating to investigations of proposed corporate mergers, acquisitions, or takeovers (transactions) in the United States by a foreign interest which could affect U.S. national security to: (1) extend from 30 to 60 days after notification of the proposed transaction the period in which such investigation must be commenced by the President, if it is determined that there should be an investigation; and (2) allow an extension of such deadline by up to ten additional days if determined appropriate.
 
Requires the investigation of a transaction which could result in foreign control of a person engaged in interstate commerce in the United States that could affect U.S. critical infrastructure.
 
States with respect to certain mandatory investigations that if the President determines that the transaction should be approved or does not otherwise object to the transaction and the President does not suspend or prohibit such transaction, then the President, within 30 days after such decision, shall notify Congress of the decision. Allows Congress 45 days after such notification to enact into law a joint resolution disapproving the decision of the President and requiring the President to prohibit the proposed transaction, or, if the transaction has been completed, directing the Attorney General to seek divestment.
 
Requires annual reports from the President to the congressional homeland security and intelligence committees on actions taken with regard to such investigations.
 
Directs the Commissioner of the Bureau of Customs and Border Protection of the Department of Homeland Security (DHS) to: (1) verify on-site the security measures of each individual and entity participating in the Customs-Trade Partnership Against Terrorism (C-TPAT) program and the Free And Secure Trade (FAST) program; and (2) establish policies for non-compliance with requirements of the C-TPAT program, including probation and expulsion.


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: 2006-03-07
text: Referred to the Subcommittee on Economic Security, Infrastructure Protection, and Cybersecurity.
action_date: 2006-02-28
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, International Relations, and Homeland Security, 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, International Relations, and Homeland Security, 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, International Relations, and Homeland Security, 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, International Relations, and Homeland Security, 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, International Relations, and Homeland Security, 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: Sponsor introductory remarks on measure. (CR E225-226)
action_date: 2006-02-28
text: Introduced in House
action_date: 2006-02-28
text: Introduced in House