[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4322 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 4322

 To require disclosure of foreign government subsidies in the premerger 
             notification process, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                              May 26, 2022

Mr. Cotton (for himself and Mr. Hagerty) introduced the following bill; 
  which was read twice and referred to the Committee on the Judiciary

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                                 A BILL


 
 To require disclosure of foreign government subsidies in the premerger 
             notification process, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Foreign Merger Subsidy Disclosure 
Act''.

SEC. 2. MERGERS INVOLVING FOREIGN GOVERNMENT SUBSIDIES.

    (a) Definition.--In this section, the term ``foreign entity of 
concern'' has the meaning given the term in section 40207 of the 
Infrastructure Investment and Jobs Act (42 U.S.C. 18741(a)).
    (b) Accounting for Foreign Government Subsidies.--A person required 
to file a notification under section 7A of the Clayton Act (15 U.S.C. 
18a) that received a subsidy from a foreign entity of concern shall 
include in such notification content regarding such subsidy.
    (c) Authority of Antitrust Regulators.--The Federal Trade 
Commission, with the concurrence of the Assistant Attorney General in 
charge of the Antitrust Division of the Department of Justice, and in 
consultation with the Chairperson of the Committee on Foreign 
Investment in the United States, the Secretary of Commerce, the Chair 
of the United States International Trade Commission, the United States 
Trade Representative, and the heads of other appropriate agencies, and 
by rule in accordance with section 553 of title 5, United States Code, 
consistent with purposes of this section shall require that the 
notification required under subsection (b) be in such form and contain 
such documentary material and information relevant to a proposed 
acquisition as is necessary and appropriate to enable the Federal Trade 
Commission and the Assistant Attorney General in charge of the 
Antitrust Division of the Department of Justice to determine whether 
such acquisition may, if consummated, violate the antitrust laws.
    (d) Effective Date.--This section shall take effect on the date on 
which the rule described in subsection (c) takes effect.
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