118 S2678 IS: Outbound Investment Transparency Act of 2023
U.S. Senate
2023-07-27
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.
1.This Act may be cited as the Outbound Investment Transparency Act of 2023
.2.Protection of covered sectorsThe Defense Production Act of 1950 (50 U.S.C. 4501 et seq.) is amended by adding at the end the following: <enum>VIII</enum><header>Protection of covered sectors</header><section id="idE1F8B1F68A404D20834D3A19D44CB3DE"><enum>801.</enum><header>Definitions</header><text display-inline="no-display-inline">In this title:</text><paragraph id="ID92eb3a613f084cc58c1da902c9450c42"><enum>(1)</enum><header>Appropriate congressional committees</header><text>The term <term>appropriate congressional committees</term> means—</text><subparagraph id="ID79915bd22f7946828b203260e5e52fe7"><enum>(A)</enum><text>the Committee on Armed Services, the Committee on Finance, the Committee on Banking, Housing, and Urban Affairs, the Select Committee on Intelligence, and the Committee on Foreign Relations of the Senate; and</text></subparagraph><subparagraph id="ID0d605002844b45daa2f0f6d9ad0857ef"><enum>(B)</enum><text>the Committee on Armed Services, the Committee on Ways and Means, the Committee on Financial Services, the Permanent Select Committee on Intelligence, and the Committee on Foreign Affairs of the House of Representatives.</text></subparagraph></paragraph><paragraph id="id6a4b4ac7f6154d9587af8925fcaa5ee8"><enum>(2)</enum><header>Country of concern</header><text>The term <term>country of concern</term> means, subject to such regulations as may be prescribed in accordance with section 806, a country specified in section 4872(d)(2) of title 10, United States Code.</text></paragraph><paragraph id="IDf232aaef85be43919c71a48bfaaa5ad5"><enum>(3)</enum><header>Covered activity</header><subparagraph id="ID6d1c71bbc7f04c5ebcf3337f84de25be"><enum>(A)</enum><header>In general</header><text>Subject to such regulations as may be prescribed in accordance with section 806, and except as provided in subparagraph (B), the term <term>covered activity</term> means any activity engaged in by a United States person in a related to a covered sector that involves—</text><clause id="ID18b431719b3f4cd88558b36d71bb3ad0" commented="no"><enum>(i)</enum><text>an acquisition by such United States person of an equity interest or contingent equity interest, or monetary capital contribution, in a covered foreign entity, directly or indirectly, by contractual commitment or otherwise, with the goal of generating income or gain;</text></clause><clause id="IDc172181178d84dd981ae94f2f27416d9" commented="no"><enum>(ii)</enum><text>an arrangement for an interest held by such United States person in the short- or long-term debt obligations of a covered foreign entity that includes governance rights that are characteristic of an equity investment, management, or other important rights, as defined in regulations prescribed in accordance with section 806;</text></clause><clause id="ID738fda963d024eb4b9a4740a805322e9" commented="no"><enum>(iii)</enum><text>the establishment of a wholly owned subsidiary in a country of concern, such as a greenfield investment, for the purpose of production, design, testing, manufacturing, fabrication, or development related to one or more covered sectors;</text></clause><clause id="ID72a85a17f6a6436c8054fc9ca474aa91" commented="no"><enum>(iv)</enum><text>the establishment by such United States person of a joint venture in a country of concern or with a covered foreign entity for the purpose of production, design, testing, manufacturing, fabrication, or research involving one or more covered sectors, or other contractual or other commitments involving a covered foreign entity to jointly research and develop new innovation, including through the transfer of capital or intellectual property or other business proprietary information; or</text></clause><clause id="IDb4207857d6fa496db568bd749fb28490"><enum>(v)</enum><text>the acquisition by a United States person with a covered foreign entity of—</text><subclause id="IDf3ef6d1b54974dc996e1ca895d705edf"><enum>(I)</enum><text>operational cooperation, such as through supply or support arrangements;</text></subclause><subclause id="ID3c487c45503344bb98114e45b4ebf421"><enum>(II)</enum><text>the right to board representation (as an observer, even if limited, or as a member) or an executive role (as may be defined through regulation) in a covered foreign entity;</text></subclause><subclause id="IDb268d653df394da68d6beb5c30abed82"><enum>(III)</enum><text>the ability to direct or influence such operational decisions as may be defined through such regulations;</text></subclause><subclause id="ID903a1b09680045ccaffde56dfd6a7fb6"><enum>(IV)</enum><text>formal governance representation in any operating affiliate, like a portfolio company, of a covered foreign entity; or</text></subclause><subclause id="IDe39c96f620a546cc8e25f3bd4e962e3a"><enum>(V)</enum><text>a new relationship to share or provide business services, such as but not limited to financial services, marketing services, maintenance, or assembly functions, related to a covered sectors.</text></subclause></clause></subparagraph><subparagraph id="IDe389184597b04804a7aab5456469afe1"><enum>(B)</enum><header>Exceptions</header><text>The term <term>covered activity</term> does not include—</text><clause id="IDc1840fea975449408722888471a0b5d0"><enum>(i)</enum><text>any transaction the value of which the Secretary of the Treasury determines is de minimis, as defined in regulations prescribed in accordance with section 806;</text></clause><clause id="ID62910bbeda8f402c93e2b6fb7acb465e"><enum>(ii)</enum><text>any category of transactions that the Secretary determines is in the national interest of the United States, as may be defined in regulations prescribed in accordance with section 806; or</text></clause><clause id="ID54689e1d2074475b916fd668b3ec083a"><enum>(iii)</enum><text>any ordinary or administrative business transaction as may be defined in such regulations.</text></clause></subparagraph></paragraph><paragraph id="ID9db32fc4584c4f678e06f6bff69d0a75"><enum>(4)</enum><header>Covered foreign entity</header><subparagraph id="ID8d3ca42da1d94ea582b3955ffd5985ef"><enum>(A)</enum><header>In general</header><text>Subject to regulations prescribed in accordance with section 806, and except as provided in subparagraph (B), the term <term>covered foreign entity</term> means—</text><clause id="ID27e5a983f5864890bf5f3a55147eafdf"><enum>(i)</enum><text>any entity that is incorporated in, has a principal place of business in, or is organized under the laws of a country of concern;</text></clause><clause id="IDcdcc13d33ab04d019dcd710c9956b04a"><enum>(ii)</enum><text>any entity the equity securities of which are primarily traded in the ordinary course of business on one or more exchanges in a country of concern; </text></clause><clause id="ID61a3c065abd84677b58aa9d2d57a544b"><enum>(iii)</enum><text>any entity in which any entity described in subclause (i) or (ii) holds, individually or in the aggregate, directly or indirectly, an ownership interest of greater than 50 percent; or</text></clause><clause id="iddbda7e3b3b2d44ee86f1d7400c47b566"><enum>(iv)</enum><text>any other entity that is not a United States person and that meets such criteria as may be specified by the Secretary of the Treasury in such regulations.</text></clause></subparagraph><subparagraph id="IDbd8f92add4b149df95060b70f518b688" commented="no"><enum>(B)</enum><header>Exception</header><text>The term <term>covered foreign entity</term> does not include any entity described in subparagraph (A) that can demonstrate that a majority of the equity interest in the entity is ultimately owned by—</text><clause commented="no" id="idE93F1EEF1BDC45969EC73CC6C46882DF"><enum>(i)</enum><text>nationals of the United States; or </text></clause><clause commented="no" id="id1FA61DEB75C049CB9B3D47B730E44361"><enum>(ii)</enum><text>nationals of such countries (other than countries of concern) as are identified for purposes of this subparagraph pursuant to regulations prescribed in accordance with section 806.</text></clause></subparagraph></paragraph><paragraph id="ID6a79639b657041c78d8641527bb0a7ee"><enum>(5)</enum><header>covered sectors</header><text>Subject to regulations prescribed in accordance with section 806, the term <term>covered sectors</term> includes sectors within the following areas, as specified in such regulations:</text><subparagraph id="id6019167d7b6248288422e279c3098921" commented="no"><enum>(A)</enum><text>Advanced semiconductors and microelectronics.</text></subparagraph><subparagraph id="idb160415fbaab4006a13b4ea61039f39e" commented="no"><enum>(B)</enum><text>Artificial intelligence.</text></subparagraph><subparagraph id="idab13ad5ce5b949c89c8f7b57c49ec26a" commented="no"><enum>(C)</enum><text>Quantum information science and technology.</text></subparagraph><subparagraph id="id84f15e80d7f8447fa0d4b23eca662e6d" commented="no"><enum>(D)</enum><text>Hypersonics.</text></subparagraph><subparagraph id="id753b7b7697a14abe978763b521fa4b9f" commented="no"><enum>(E)</enum><text>Satellite-based communications.</text></subparagraph><subparagraph id="idd852489a146441d3af7c007206354944" commented="no"><enum>(F)</enum><text>Networked laser scanning systems with dual-use applications.</text></subparagraph></paragraph><paragraph id="ID0e858d866c2c4a5a9d1c12115d175fa3"><enum>(6)</enum><header>Party</header><text>The term <term>party</term>, with respect to an activity, has the meaning given that term in regulations prescribed in accordance with section 806.</text></paragraph><paragraph id="IDd7ca4f3a37ac4ba0aa166e8c67acbe1e"><enum>(7)</enum><header>United States</header><text>The term <term>United States</term> means the several States, the District of Columbia, and any territory or possession of the United States.</text></paragraph><paragraph id="IDf3b2cf5c7c174afb9dfdd48b5ae2b74f"><enum>(8)</enum><header>United States person</header><text>The term <term>United States person</term> means—</text><subparagraph id="ID14c8689b28ce420f9d315d7ade067567"><enum>(A)</enum><text>an individual who is a citizen or national of the United States or an alien lawfully admitted for permanent residence in the United States; and</text></subparagraph><subparagraph id="ID0e1476e3c3184853975d54389e7a1db5"><enum>(B)</enum><text>any corporation, partnership, or other entity organized under the laws of the United States or the laws of any jurisdiction within the United States.</text></subparagraph></paragraph></section><section id="ID64f4e94da1954220ac16549259aa9bd6"><enum>802.</enum><header>Administration of United States investment notification</header><subsection id="id88db8ce2bd59451295c413da2d554170"><enum>(a)</enum><header>In general</header><text>The President shall delegate the authorities and functions under this title to the Secretary of the Treasury.</text></subsection><subsection id="id7e17e32e749b4430878dc5b6aa441ac5"><enum>(b)</enum><header>Coordination</header><text>In carrying out the duties of the Secretary under this title, the Secretary shall—</text><paragraph commented="no" display-inline="no-display-inline" id="id158ee282d203420094e4a302c46fa00d"><enum>(1)</enum><text display-inline="yes-display-inline">coordinate with the Secretary of Commerce; and </text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id5d89bb86caac4957bd342e63e1719c62"><enum>(2)</enum><text display-inline="yes-display-inline">consult with the United States Trade Representative, the Secretary of Defense, the Secretary of State, and the Director of National Intelligence.</text></paragraph></subsection></section><section id="ID2ab1da504efb485fb171758d06724ef3"><enum>803.</enum><header>Mandatory notification of covered activities</header><subsection id="ID70878fc11ecd44aaaec22b7013eef473"><enum>(a)</enum><header>Mandatory notification</header><paragraph id="ID7950a95e7a7a427b900665ff36912385"><enum>(1)</enum><header>In general</header><text>Subject to regulations prescribed in accordance with section 806, beginning on the date that is 90 days after such regulations take effect, a United States person that plans to engage in a covered activity shall—</text><subparagraph commented="no" display-inline="no-display-inline" id="id6e4ccca674c845f19746589ca499ab99"><enum>(A)</enum><text display-inline="yes-display-inline">if such covered activity is not a secured transaction, submit to the Secretary of the Treasury a complete written notification of the activity not later than 14 days before the anticipated completion date of the activity; and</text></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id37758b710b754679ac6819a67d5629e1"><enum>(B)</enum><text>if such covered activity is a secured transaction, submit to the Secretary of the Treasury a complete written notification of the activity not later than 14 days after the completion date of the activity.</text></subparagraph></paragraph><paragraph id="ID2918b8eea34f4f39a884a3010f8ba4e6"><enum>(2)</enum><header>Circulation of notification</header><subparagraph id="ID3d9af55a0c0e455ea9ee1d68de172a3b"><enum>(A)</enum><header>In general</header><text>The Secretary shall, upon receipt of a notification under paragraph (1), promptly inspect the notification for completeness.</text></subparagraph><subparagraph id="ID7aa1a3898b1846a4ab4684520ac25673"><enum>(B)</enum><header>Incomplete notifications</header><text>If a notification submitted under paragraph (1) is incomplete, the Secretary shall promptly inform the United States person that submits the notification that the notification is not complete and provide an explanation of relevant material respects in which the notification is not complete.</text></subparagraph></paragraph><paragraph id="idfb67113588694882ac336752a6307aa6"><enum>(3)</enum><header>Identification of non-notified activity</header><text>The Secretary shall establish a process to identify covered activity for which—</text><subparagraph id="id04848332b9414ecfa5b71170a801b4ab"><enum>(A)</enum><text>a notification is not submitted to the Secretary under paragraph (1); and</text></subparagraph><subparagraph id="id055f175a4d0f4299845978f1036b2e0b"><enum>(B)</enum><text>information is reasonably available. </text></subparagraph></paragraph></subsection><subsection id="ID27d129d7eee749efbc44a3791be8830e"><enum>(b)</enum><header>Confidentiality of information</header><paragraph id="IDb4a72a86a12c4988a1128400f98d5e59"><enum>(1)</enum><header>In general</header><text>Except as provided in paragraph (2), any information or documentary material filed with the Secretary of the Treasury pursuant to this section shall be exempt from disclosure under section 552 of title 5, United States Code, and no such information or documentary material may be made public by any government agency or Member of Congress.</text></paragraph><paragraph id="ID64de57f5a73044a1b7be702d0186009d"><enum>(2)</enum><header>Exceptions</header><text>The exemption from disclosure provided by paragraph (1) shall not prevent the disclosure of the following:</text><subparagraph id="IDd1667d0308a74eedb1e7df4d70c23c0c"><enum>(A)</enum><text>Information relevant to any administrative or judicial action or proceeding.</text></subparagraph><subparagraph id="id50B6C895AB784C4AB6D45DC1FCBFEB56"><enum>(B)</enum><text>Information provided to Congress or any of the appropriate congressional committees.</text></subparagraph><subparagraph id="id6868926CD27F43FC8AD7E7677D4EA265"><enum>(C)</enum><text>Information important to the national security analysis or actions of the President to any domestic governmental entity, or to any foreign governmental entity of an ally or partner of the United States, under the direction and authorization of the President or the Secretary, only to the extent necessary for national security purposes, and subject to appropriate confidentiality and classification requirements.</text></subparagraph><subparagraph id="ID6fca6013a2de46a7a6601c0fda593d5d"><enum>(D)</enum><text>Information that the parties have consented to be disclosed to third parties.</text></subparagraph></paragraph></subsection></section><section id="IDb0ce42112e9a43d4804fb8954ac71729"><enum>804.</enum><header>Reporting requirements</header><subsection id="id723bb593eb2a41e7990bca76e195026c"><enum>(a)</enum><header>In general</header><text>Not later than 360 days after the date on which the regulations prescribed under section 806 take effect, and not less frequently than annually thereafter, the Secretary of the Treasury shall submit to the appropriate congressional committees a report that—</text><paragraph id="idde98b7a0845a4515bb657dcf547d62ed"><enum>(1)</enum><text>lists all notifications submitted under section 803(a) during the year preceding submission of the report and includes, with respect to each such notification—</text><subparagraph id="id358d85644043446789e59033b4005096"><enum>(A)</enum><text>basic information on each party to the covered activity with respect to which the notification was submitted; and</text></subparagraph><subparagraph id="ideff3e418d0264c1b8c4e61cba23e2dd6"><enum>(B)</enum><text>the nature of the covered activity that was the subject to the notification, including the elements of the covered activity that necessitated a notification;</text></subparagraph></paragraph><paragraph id="iddb7daa0b045040449ae1fc0cbc967dec"><enum>(2)</enum><text>includes a summary of those notifications, disaggregated by sector, by covered activity, and by country of concern;</text></paragraph><paragraph id="id53d67e4072de439ca1c45f1df8bbd0a7"><enum>(3)</enum><text>provides additional context and information regarding trends in the sectors, the types of covered activities, and the countries involved in those notifications;</text></paragraph><paragraph id="id62a7a3ad58784f5a81146dc178434f5d"><enum>(4)</enum><text>includes a description of the national security risks associated with—</text><subparagraph id="id6e99915064754af8b5172580005aee04"><enum>(A)</enum><text>the covered activities with respect to which those notifications were submitted; or</text></subparagraph><subparagraph id="id6e7dfc1ce1b84d9ca3428d99ee8eb59d"><enum>(B)</enum><text>categories of such activities; and</text></subparagraph></paragraph><paragraph id="id74b02cf2ac9049c9aebb8ad8ceb7f824"><enum>(5)</enum><text>assesses the overall impact of those notifications, including recommendations for—</text><subparagraph id="idceaa5f1361d946cb959da1d6f2707859"><enum>(A)</enum><text>expanding existing Federal programs to support the production or supply of covered sectors in the United States, including the potential of existing authorities to address any related national security concerns;</text></subparagraph><subparagraph id="id8c4f45b608ad4523b9b1b3b9a4b66cc0"><enum>(B)</enum><text>investments needed to enhance covered sectors and reduce dependence on countries of concern regarding those sectors; and</text></subparagraph><subparagraph id="id449201c005a84d7da2d325c898424184"><enum>(C)</enum><text>the continuation, expansion, or modification of the implementation and administration of this title, including recommendations with respect to whether the definition of <term>country of concern</term> under section 801(2) should be amended to add or remove countries.</text></subparagraph></paragraph></subsection><subsection id="IDd554e01ab73c43adb765d2a757da3b2b"><enum>(b)</enum><header>Form of report</header><text>Each report required by this section shall be submitted in unclassified form, but may include a classified annex.</text></subsection><subsection id="idb679b9c2abe54cc489547569807dac06"><enum>(c)</enum><header>Testimony required</header><text>Not later than one year after the date of enactment of this title, and annually thereafter, the Secretary of the Treasury and the Secretary of Commerce shall each provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives testimony with respect to the national security threats relating to investments by the United States persons in countries of concern and broader international capital flows. </text></subsection></section><section id="IDa37319b9adc5467999ea67ada87563c8"><enum>805.</enum><header>Penalties and enforcement</header><subsection id="ID56f37a3ef0844a6e935b4b3a6d31a403"><enum>(a)</enum><header>Penalties with respect to unlawful acts</header><text>Subject to regulations prescribed in accordance with section 806, it shall be unlawful—</text><paragraph id="IDb54e37ae29904286b6bd991222581375"><enum>(1)</enum><text>to fail to submit a notification under subsection (a) of section 803 with respect to a covered activity or to submit other information as required by the Secretary of the Treasury; or</text></paragraph><paragraph id="IDf378df179cac472c84ffe83f18519b55"><enum>(2)</enum><text>to make a material misstatement or to omit a material fact in any information submitted to the Secretary under this title.</text></paragraph></subsection><subsection id="IDd692de8d17b94dceaf015a005371bff4"><enum>(b)</enum><header>Enforcement</header><text>The President may direct the Attorney General to seek appropriate relief in the district courts of the United States, in order to implement and enforce this title.</text></subsection></section><section id="ID3b5ab05e95af46e48d8f5d185d9d2702"><enum>806.</enum><header>Requirement for regulations</header><subsection id="ID51329341c38f4c4981385d15bf11876f"><enum>(a)</enum><header>In general</header><text>Not later than 360 days after the date of the enactment of this title, the Secretary of the Treasury shall finalize regulations to carry out this title.</text></subsection><subsection id="ID7a0550c38c4b4f4f90fb6e9f8c7758fc"><enum>(b)</enum><header>Elements</header><text>Regulations prescribed to carry out this title shall include specific examples of the types of—</text><paragraph id="IDb152271d89aa4fdaae67ea51820cff9b"><enum>(1)</enum><text>activities that will be considered to be covered activities; and</text></paragraph><paragraph id="id0CC7C01734BD4AEB88EC1B9CAAB586B0"><enum>(2)</enum><text>the specific sectors and subsectors that may be considered to be covered sectors.</text></paragraph></subsection><subsection id="ID92596587ddcf45cc8290a08a5b18c528"><enum>(c)</enum><header>Requirements for certain regulations</header><text>The Secretary of the Treasury shall prescribe regulations further defining the terms used in this title, including <term>covered activity</term>, <term>covered foreign entity</term>, and <term>party</term>, in accordance with subchapter II of chapter 5 and <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/5/7">chapter 7</external-xref> of title 5 (commonly known as the <quote>Administrative Procedure Act</quote>).</text></subsection><subsection id="id41592a0188884b8bb1bf378e144b9ae9"><enum>(d)</enum><header>Public participation in rulemaking</header><text>The provisions of section 709 shall apply to any regulations issued under this title.</text></subsection><subsection id="id182eff1cc93e4301af8e5511d8e65cc0" commented="no"><enum>(e)</enum><header>Low-Burden regulations</header><text>In prescribing regulations under this section, the Secretary of the Treasury shall structure the regulations—</text><paragraph id="ideb3b7ec84b1d474c8568fd7a11fc63a3" commented="no"><enum>(1)</enum><text>to minimize the cost and complexity of compliance for affected parties;</text></paragraph><paragraph id="id185b4d5ba0844b758033be8a4393bcc2" commented="no"><enum>(2)</enum><text>to ensure the benefits of the regulations outweigh their costs;</text></paragraph><paragraph id="id19a672aec39f46cab654076f0587dcb5" commented="no"><enum>(3)</enum><text>to adopt the least burdensome alternative that achieves regulatory objectives;</text></paragraph><paragraph id="id904d75f80f9b4ad7978a5e6bfeaadac7" commented="no"><enum>(4)</enum><text>to prioritize transparency and stakeholder involvement in the process of prescribing the regulations; and</text></paragraph><paragraph id="id682e413dbe1b443ea7160ed4a915ffd0" commented="no"><enum>(5)</enum><text>to regularly review and streamline existing regulations to reduce redundancy and complexity.</text></paragraph></subsection></section><section id="ID70b1c7b2a41143b783d803cf37bb6a4d"><enum>807.</enum><header>Multilateral engagement and coordination</header><subsection id="id1b6234fdc3404bebb61ca1ad89b6c336"><enum>(a)</enum><header>In general</header><text>The President shall delegate the authorities and functions under this section to the Secretary of State.</text></subsection><subsection id="id0ccf8f695702447ead2c7c96f8003fd4"><enum>(b)</enum><header>Authorities</header><text>The Secretary of State, in coordination with the Secretary of the Treasury, the Secretary of Commerce, the United States Trade Representative, and the Director of National Intelligence, shall—</text><paragraph id="ida2663c372a7549a88e88db4c633f5ed5"><enum>(1)</enum><text>conduct bilateral and multilateral engagement with the governments of countries that are allies and partners of the United States to ensure coordination of protocols and procedures with respect to covered activities with countries of concern and covered foreign entities; and</text></paragraph><paragraph id="id275cfa2f774043958cb25a4a978fc94b"><enum>(2)</enum><text>upon adoption of protocols and procedures described in paragraph (1), work with those governments to establish mechanisms for sharing information, including trends, with respect to such activities.</text></paragraph></subsection><subsection id="ided87aa0fff2947bcaef60d64b8d89886"><enum>(c)</enum><header>Strategy for development of outbound investment screening mechanisms</header><text>The Secretary of State, in coordination with the Secretary of the Treasury and in consultation with the Attorney General, shall—</text><paragraph id="ide607710398314dcebb6043784217aab8"><enum>(1)</enum><text>develop a strategy to work with countries that are allies and partners of the United States to develop mechanisms comparable to this title for the notification of covered activities; and</text></paragraph><paragraph id="id39236fc7c7a8459bad4a56d04c80977c"><enum>(2)</enum><text>provide technical assistance to those countries with respect to the development of those mechanisms.</text></paragraph></subsection><subsection id="idf31987c4c6f24cc48f7151cd0d7d8217"><enum>(d)</enum><header>Report</header><text>Not later than 90 days after the development of the strategy required by subsection (b), and annually thereafter for a period of 5 years, the Secretary of State shall submit to the appropriate congressional committees a report that includes the strategy, the status of implementing the strategy, and a description of any impediments to the establishment of mechanisms comparable to this title by allies and partners.</text></subsection></section><section id="ID26cabf3dc7704e95af2ce68fba9140cb"><enum>808.</enum><header>Authorization of appropriations</header><subsection id="ID5018494101274905a4f316380b48a613"><enum>(a)</enum><header>In general</header><text>There are authorized to be appropriated such sums as may be necessary to carry out this title, including to provide outreach to industry and persons affected by this title.</text></subsection><subsection id="IDb856bd4b9a714f268f7b117528612991"><enum>(b)</enum><header>Hiring authority</header><text>The head of any agency designated as a lead agency under section 802(b) may appoint, without regard to the provisions of sections 3309 through 3318 of title 5, United States Code, not more than 25 candidates directly to positions in the competitive service (as defined in section 2102 of that title) in that agency. The primary responsibility of individuals in positions authorized under the preceding sentence shall be to administer this title.</text></subsection></section><section id="IDa548b9024540472386a90adf4e0c2b29" commented="no" display-inline="no-display-inline" section-type="subsequent-section"><enum>809.</enum><header>Rule of construction with respect to free and fair commerce</header><text display-inline="no-display-inline">Nothing in this title may be construed to restrain or deter foreign investment in the United States, United States investment abroad, or trade in goods or services, if such investment and trade do not pose a risk to the national security of the United States.</text></section>.