[Congressional Record Volume 166, Number 117 (Thursday, June 25, 2020)]
[Senate]
[Page S3386]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1863. Mr. REED submitted an amendment intended to be proposed by 
him to the bill S. 4049, to authorize appropriations for fiscal year 
2021 for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. PROVISION OF ASSISTANCE BY COMMITTEE ON FOREIGN 
                   INVESTMENT IN THE UNITED STATES TO ALLIES AND 
                   PARTNERS WITH RESPECT TO REVIEWING FOREIGN 
                   INVESTMENT.

       Section 721(c)(3) of the Defense Production Act of 1950 (50 
     U.S.C. 4565(c)(3)) is amended--
       (1) by striking subparagraph (A) and inserting the 
     following:
       ``(A) In general.--The chairperson, in the discretion of 
     the chairperson and in consultation with other members of the 
     Committee, should, to protect the national security of the 
     United States and countries that are allies or partners of 
     the United States, establish a formal process for--
       ``(i) the exchange of information under paragraph (2)(C) 
     with the governments of such countries; and
       ``(ii) the provision of assistance to those countries with 
     respect to--

       ``(I) reviewing foreign investment transactions in such 
     countries;
       ``(II) determining the beneficial ownership of parties to 
     such transactions; and
       ``(III) identifying trends in investment and technology 
     that could pose risks to the national security of the United 
     States and such countries.''; and

       (2) in subparagraph (B)--
       (A) in clause (ii), by striking ``; and'' and inserting a 
     semicolon;
       (B) by redesignating clause (iii) as clause (iv); and
       (C) by inserting after clause (ii) the following:
       ``(iii) provide for the provision of assistance to support 
     those countries to review foreign investment transactions in 
     such countries and determine the beneficial ownership of the 
     parties to such transactions; and''.
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