[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4849 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 4849

 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.


_______________________________________________________________________


                   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.

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

SECTION 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.
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