3.0.0 2932 2023-01-11T13:37:49Z 2023-01-11T13:37:49Z House HR 2017-06-16 115 [Congressional Record Volume 163, Number 103 (Friday, June 16, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. DeLAURO:H.R. 2932.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8 of the U.S. Constitution[Page H4943]]]> hsif00 Energy and Commerce Committee House Standing hsif17 Innovation, Data, and Commerce Subcommittee Referred to 2017-06-23T13:36:29Z Referred to 2017-06-16T13:30:41Z hsfa00 Foreign Affairs Committee House Standing Referred to 2017-06-16T13:30:36Z hsba00 Financial Services Committee House Standing Referred to 2017-06-16T13:30:31Z 2017-06-23 hsif17 Innovation, Data, and Commerce Subcommittee 1 House committee actions Referred to the Subcommittee on Digital Commerce and Consumer Protection. Committee 2017-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, 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. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2017-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, 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. IntroReferral H11100 2 House floor actions hsfa00 Foreign Affairs Committee 2017-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, 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. IntroReferral H11100-A 9 Library of Congress 2017-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-06-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-06-16 Introduced in House IntroReferral 1000 9 Library of Congress D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 N C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2017-06-16 True D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2017-06-16 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2017-06-16 True P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 2017-06-16 True S000480 Rep. Slaughter, Louise McIntosh [D-NY-25] LOUISE SLAUGHTER D NY M. 25 2017-06-16 True M001143 Rep. McCollum, Betty [D-MN-4] BETTY MCCOLLUM D MN 4 2017-07-11 False K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2017-07-11 False M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2017-07-13 False S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2018-06-13 False Foreign Trade and International Finance Administrative law and regulatory procedures Administrative remedies Advanced technology and technological innovations Advisory bodies Building construction Business ethics Competition and antitrust Competitiveness, trade promotion, trade deficits Congressional oversight Consumer affairs Corporate finance and management Economic performance and conditions Executive Office of the President Foreign and international corporations Government corporations and government-sponsored enterprises Government studies and investigations Industrial facilities Industrial policy and productivity Military procurement, research, weapons development Technology transfer and commercialization U.S. and foreign investments Foreign Trade and International Finance 00 2017-06-16 Introduced in House 2018-02-27T16:34:35Z Foreign Investment and Economic Security Act of 2017

This bill amends the Defense Production Act of 1950 to provide for: (1) national security reviews of transactions involving the construction of a new facility in the United States by any foreign person (currently, national security reviews are conducted only for certain mergers, acquisitions, or takeovers by or with a foreign person); and (2) net U.S. benefit reviews of new construction, mergers, acquisitions, or takeovers by or with a foreign person.

The bill makes net benefit reviews mandatory for transactions that meet specified Clayton Act requirements.

The Committee on Foreign Investment in the United States (CFIUS) shall consider a transaction's effect on: (1) employment, resource processing, utilization of parts and services produced in or imported into the United States, and exports; (2) industrial efficiency, technological development, technology transfers, and product innovation; (3) domestic or foreign competition; (4) compatibility with national industrial and economic policies; and (5) public health, safety, and the environment.

In the case of a net benefit determination concerning a foreign government-influenced transaction, the CFIUS must consider:

  • the governance and commercial orientation of the foreign person engaging in such transaction;
  • the extent to which the foreign person is owned, controlled, or influenced by the foreign government; and
  • adherence to U.S. law and corporate governance standards, engagement of the foreign country with the Securities and Exchange Commission and the Public Company Accounting Oversight Board, and the likelihood of commercial operation.

The bill prohibits transactions that the President determines are not of net U.S. benefit and bars judicial review of such determinations.

The bill also revises the composition of the CFIUS for the purpose of carrying out net benefit determinations.

The term "foreign government-controlled transaction" is revised to include a person with access to below-market loans or other financing from a foreign government.

]]> Foreign Investment and Economic Security Act of 2017 Display Title Foreign Investment and Economic Security Act of 2017 Official Title as Introduced To amend the Defense Production Act of 1950 to provide for a net benefit review of certain covered transactions, and for other purposes. Introduced in House IH Short Titles as Introduced Foreign Investment and Economic Security Act of 2017 Introduced in House 2017-06-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2932ih/xml/BILLS-115hr2932ih.xml 2017-06-23 Referred to the Subcommittee on Digital Commerce and Consumer Protection. 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.