3.0.0 2333 2023-01-13T04:49:03Z 2023-01-13T04:49:03Z Senate S S 2006-02-27 109 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2006-02-27T19:33:21Z Foreign Investment Security Improvement Act of 2006 109 4807 HR 2006-03-21 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. Related bill CRS 2006-02-27 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S1507-1508) IntroReferral 2006-02-27 Sponsor introductory remarks on measure. (CR S1506-1507) IntroReferral B00100 9 Library of Congress 2006-02-27 Introduced in Senate IntroReferral 10000 9 Library of Congress S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. N C001057 Sen. Coleman, Norm [R-MN] Norm Coleman R MN 2006-02-27 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2006-02-27 True S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2006-02-27 True C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2006-02-27 True C000560 Sen. Coburn, Tom [R-OK] TOM COBURN R OK 2006-02-27 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2006-02-27 True C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2006-02-27 True L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2006-02-27 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2006-02-27 True B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2006-02-27 True S000059 Sen. Santorum, Rick [R-PA] RICK SANTORUM R PA 2006-02-27 True M000702 Sen. Mikulski, Barbara A. [D-MD] BARBARA MIKULSKI D MD ANN 2006-02-27 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2006-02-28 False A000069 Sen. Akaka, Daniel K. [D-HI] DANIEL AKAKA D HI KOHIKINA 2006-02-28 False J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD 2006-02-28 False L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2006-03-01 False F000061 Sen. Feingold, Russell D. [D-WI] RUSSELL FEINGOLD D WI D. 2006-03-02 False K000305 Sen. Kohl, Herb [D-WI] HERBERT KOHL D WI H. 2006-03-02 False D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN 2006-03-02 False F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2006-03-02 False L000035 Sen. Lincoln, Blanche L. [D-AR] BLANCHE LINCOLN D AR LAMBERT 2006-03-06 False H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2006-03-06 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2006-03-06 False Foreign Trade and International Finance 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 Corporation directors Crime and Law Enforcement Criminal justice information Dubai Ports World aftermath legislation Federal advisory bodies Foreign corporations Foreign investments Government Operations and Politics Government corporations Government ownership Governmental investigations Identification of criminals Infrastructure International Affairs Labor and Employment Law Legislative resolutions Marine safety Marine terminals Middle East and North Africa Personnel records President and foreign policy Private police Security measures Terrorism Transportation and Public Works United Arab Emirates Foreign Trade and International Finance 00 2006-02-27 Introduced in Senate 2006-03-09T22:18:13Z Foreign Investment Security Improvement Act of 2006 - Directs the President (or the President's designee) to investigate, under the Defense Production Act of 1950, the acquisition by Dubai Ports World (DP World), an entity owned or controlled by the Emirate of Dubai, of the Peninsular and Oriental (P&O) Steam Navigation Company, a national of the United Kingdom. Requires such investigation to be completed within 45 days after enactment of this Act.

Directs the President to suspend any decision, under provisions of the Defense Production Act of 1950 permitting the President to stop the acquisition because it will impair national security, with respect to such acquisition made before the completion of the investigation, including any decision made before enactment of this Act.

Specifies requirements for the investigation.

Requires the President to: (1) report to Congress within 15 days after completion of the investigation; and (2) provide certain Members of Congress a detailed briefing on the contents of the report.

Requires the President to take action necessary to prohibit the acquisition if the President does not stop the acquisition under the provisions of the Defense Production Act of 1950 permitting the President to stop the acquisition because it will impair national security if a joint resolution of disapproval is enacted into law within 30 days after Congress receives a report from the President that an acquisition will not be stopped. Requires, if such acquisition has been already been completed, the President to direct the Attorney General to seek divestment or other appropriate relief in US district courts.

]]> Foreign Investment Security Improvement Act of 2006 Display Title Foreign Investment Security Improvement Act of 2006 Official Title as Introduced A bill to require an investigation under the Defense Production Act of 1950 of the acquisition by Dubai Ports World of the Peninsular and Oriental Steam Navigation Company, and for other purposes. Introduced in Senate IS Short Titles as Introduced Foreign Investment Security Improvement Act of 2006 Popular Titles Dubai Ports World bill 9 Library of Congress Introduced in Senate 2006-02-27T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s2333is/xml/BILLS-109s2333is.xml 2006-02-27 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S1507-1508) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.