[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4899 Introduced in Senate (IS)]
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119th CONGRESS
2d Session
S. 4899
To require the Secretary of State to establish the Initiative on
Foreign Investment Screening, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 24, 2026
Mr. Kaine (for himself and Mr. Curtis) 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 establish the Initiative on
Foreign Investment Screening, 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 ``Securing Partner Supply Chains
Act''.
SEC. 2. INITIATIVE ON FOREIGN INVESTMENT SCREENING.
(a) Findings.--Congress finds the following:
(1) Foreign investment can be beneficial to economic
growth, but also presents risks to national security if
critical infrastructure, sensitive technology, or supply chains
are compromised.
(2) Many foreign countries lack robust regulatory
frameworks to screen foreign investments for national security
risks.
(3) Strengthening investment screening mechanisms worldwide
supports United States national security by enhancing the
resilience of allies and partner countries against malign
foreign influence.
(4) The United States has expertise in investment screening
that can be leveraged to assist allies and partner countries.
(b) Initiative on Foreign Investment Screening.--
(1) Establishment.--Not later than 180 days after the date
of the enactment of this Act, the Secretary of State shall
establish the Initiative on Foreign Investment Screening (in
this section referred to as the ``Initiative'').
(2) Coordination.--The Secretary shall coordinate with the
heads of other United States Government agencies, as
appropriate, in the establishment and activities of the
Initiative.
(3) Designated official.--The Secretary shall designate the
Under Secretary for Economic Affairs or a designee of the Under
Secretary to lead the initiative.
(4) Duties.--The Initiative shall--
(A) provide technical assistance, training, and
advisory services to foreign countries regarding best
practices for screening foreign investments for
national security risks to such countries;
(B) facilitate coordination among United States
Government agencies, the private sector, partner
countries, and civil society to promote security
standards for foreign investment;
(C) support the development and implementation of
foreign investment screening mechanisms in partner
countries through regulatory guidance and information
sharing;
(D) assess the progress of partner countries in
establishing robust foreign investment screening
mechanisms; and
(E) conduct outreach and capacity-building efforts
to enhance global awareness of the national security
risks of foreign investment.
(5) Termination.--The Initiative shall terminate on the
date that is 5 years after the date on which the Initiative is
established under paragraph (1).
(6) Annual report to congress.--Not later than one year
after the date of the enactment of this Act, and annually
thereafter for 3 years, the Secretary shall submit to the
appropriate congressional committees a report on the activities
of the Initiative, including--
(A) a summary of technical assistance and training
provided to foreign countries;
(B) an assessment of progress made by foreign
countries in implementing foreign investment screening
mechanisms;
(C) an evaluation of emerging national security
risks related to foreign investment;
(D) recommendations for further United States
engagement with foreign countries regarding screening
foreign investments for national security risks to such
countries; and
(E) for each country determined by the Secretary to
be a partner country pursuant to subsection (c)(4)(C)
during the year preceding submission of the report, a
detailed description of the reasons for such
determination.
(c) Definitions.--In this section:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means the following:
(A) The Committee on Foreign Affairs of the House
of Representatives.
(B) The Committee on Foreign Relations of the
Senate.
(2) Foreign investment.--The term ``foreign investment''
means direct or indirect investment in the economy of a country
by--
(A) an individual who is not a citizen or national
of such country; or
(B) an entity that is not organized under the laws
of such country or any jurisdiction within such
country.
(3) National security risk.--The term ``national security
risk'' means a risk related to critical infrastructure,
sensitive technology, supply chain vulnerabilities, or malign
foreign influence.
(4) Partner country.--The term ``partner country'' means
the following:
(A) A country with which the United States has in
effect a bilateral or multilateral free trade
agreement.
(B) A country with which the United States has in
effect a treaty for mutual defense.
(C) Any other country or jurisdiction, as
determined by the Secretary.
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