Foreign Investment Risk Review Modernization Act of 2017

Bill: 115-hr-4311
Sponsor: Rep. Pittenger, Robert [R-NC-9]
Introduced: 2017-11-08 in the House
Policy area: Foreign Trade and International Finance
Subjects: Administrative law and regulatory procedures
Administrative remedies
Alliances
Computer security and identity theft
Congressional oversight
Corporate finance and management
Defense spending
Department of Defense
Executive agency funding and structure
Government employee pay, benefits, personnel management
Government information and archives
Government studies and investigations
Government trust funds
Industrial policy and productivity
Infrastructure development
Intellectual property
Intelligence activities, surveillance, classified information
Judicial review and appeals
Manufacturing
Military facilities and property
Military procurement, research, weapons development
Presidents and presidential powers, Vice Presidents
Public contracts and procurement
Real estate business
Technology transfer and commercialization
Trade restrictions
U.S. and foreign investments
User charges and fees

Summary:
action_date: 2017-11-08
text: 

Foreign Investment Risk Review Modernization Act of 2017

 
This bill amends the Defense Production Act of 1950 to expand the scope of &quot;covered transaction&quot; subject to the review of the Committee on Foreign Investment in the United States (CFIUS). CFIUS analyzes the national security implications of foreign investment in the United States. 
 
A covered transaction includes: 
 
 
any merger, acquisition, or takeover that could result in foreign control of any U.S. business, 
 
the purchase or lease of real estate located in the United States that is in close proximity to a U.S. military installation or to another U.S. government facility or property that is sensitive for reasons relating to national security,
 
other investment in a U.S. critical technology company or U.S. critical infrastructure company,
 
any change in a foreign investor's rights that results in foreign control of a U.S. business, 
 
the contribution of intellectual property to a foreign person, or
 
any other transaction, transfer, agreement, or arrangement designed to evade or circumvent the authority of CFIUS. 
 
 
The bill revises other provisions relating to CFIUS, including the length of its review period, special hiring authority and funding, and authority to mandate reviews or take unilateral action.


Legislative actions:
action_date: 2018-04-12
text: Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
action_date: 2017-11-10
text: Referred to the Subcommittee on Digital Commerce and Consumer Protection.
action_date: 2017-11-08
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, 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: 2017-11-08
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, 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: 2017-11-08
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, 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: 2017-11-08
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, 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: 2017-11-08
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, 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: 2017-11-08
text: Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, 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: 2017-11-08
text: Introduced in House
action_date: 2017-11-08
text: Introduced in House