A bill to require the Secretary of State to seek to enter into negotiations with the Government of Ukraine for the establishment by that Government of a foreign investment review mechanism.

Bill: 118-s-4849
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2024-07-30
Policy area: International Affairs
Latest action: action_date: 2024-07-30
text: Read twice and referred to the Committee on Foreign Relations.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 4849 IN THE SENATE OF THE UNITED STATES July 30, 2024 Mr. Rubio introduced the following bill; which was read twice and referred to the Committee on Foreign Relations A BILL To require the Secretary of State to seek to enter into negotiations with the Government of Ukraine for the establishment by that Government of a foreign investment review mechanism.

1. Negotiations with Ukraine for establishment of foreign investment review mechanism (a) In general The Secretary of State shall seek to enter into negotiations with the Government of Ukraine for— (1) the establishment by that Government of a mechanism for reviewing foreign investment in Ukraine, particularly foreign investment from the People’s Republic of China, including entities based in the People’s Republic of China or subject to the jurisdiction of the People’s Republic of China, that is similar to reviews conducted by the Committee on Foreign Investment in the United States under section 721 of the Defense Production Act of 1950 ( 50 U.S.C. 4565 ) into foreign investment in the United States; and (2) the provision of assistance by the United States relating to establishing that mechanism, including— (A) the provision of training to officials of the Government of Ukraine to develop the skillsets required to conduct reviews of foreign investment; (B) assistance with the purchase of equipment required by the entity that will be conducting the reviews; and (C) sending staff of the Committee on Foreign Investment in the United States to Ukraine for consultations. (b) Direct hire authority To carry out subsection (a), the Secretary may appoint, without regard to the provisions of subchapter I of chapter 33 of title 5, United States Code (other than sections 3303 and 3328 of that title), candidates with appropriate qualifications directly to positions within the Department of State. (c) Authorization of appropriations There are authorized to be appropriated $1,000,000 for each of fiscal year 2025 through 2029 to provide assistance under subsection (a)(2). (d) Termination This section and the authorities provided under this section shall terminate on the date that is 5 years after the date of the enactment of this Act.