[Congressional Record Volume 167, Number 87 (Wednesday, May 19, 2021)]
[Senate]
[Pages S3139-S3140]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1623. Mr. KENNEDY submitted an amendment intended to be proposed 
by him to the bill S. 1260, to establish a new Directorate for 
Technology and Innovation in the National Science Foundation, to 
establish a regional technology hub program, to require a strategy and 
report on economic security, science, research, innovation, 
manufacturing, and job creation, to establish a critical supply chain 
resiliency program, and for other purposes; which was ordered to lie on 
the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. REVIEW BY COMMITTEE ON FOREIGN INVESTMENT IN THE 
                   UNITED STATES OF GREENFIELD INVESTMENTS BY 
                   PEOPLE'S REPUBLIC OF CHINA.

       (a) Inclusion in Definition of Covered Transaction.--
     Section 721(a)(4) of the Defense Production Act of 1950 (50 
     U.S.C. 4565(a)(4)) is amended--
       (1) in subparagraph (A)--
       (A) in clause (i), by striking ``; and'' and inserting a 
     semicolon;
       (B) in clause (ii), by striking the period at the end and 
     inserting ``; and''; and
       (C) by adding at the end the following:
       ``(iii) any transaction described in subparagraph (B)(vi) 
     proposed or pending on or after the date of the enactment of 
     this clause.''; and
       (2) in subparagraph (B), by adding at the end the 
     following:
       ``(vi) An investment by a foreign person that--

       ``(I) involves--

       ``(aa) the completed or planned purchase or lease by, or a 
     concession to, the foreign person of private or public real 
     estate in the United States; and
       ``(bb) the establishment of a United States business to 
     operate a factory or other facility on that real estate; and

       ``(II) could result in control, including through formal or 
     informal arrangements to act in concert, of that United 
     States business by--

       ``(aa) the Government of the People's Republic of China;
       ``(bb) a person owned or controlled by, or acting on behalf 
     of, that Government;
       ``(cc) an entity in which that Government has, directly or 
     indirectly, including through formal or informal arrangements 
     to act in concert, a 5 percent or greater interest;
       ``(dd) an entity in which that Government has, directly or 
     indirectly, the right or power to appoint, or approve the 
     appointment of, any members of the board of directors, board 
     of supervisors, or an equivalent governing body (including 
     external directors and other individuals who perform the 
     duties usually associated with such titles) or officers 
     (including the president, senior vice president, executive 
     vice president, and other individuals who perform duties 
     normally associated with such titles) of any other entity 
     that held, directly or indirectly, including through formal 
     or informal arrangements to act in concert, a 5 percent or 
     greater interest in the entity in the preceding 3 years; or
       ``(ee) an entity in which any members or officers described 
     in item (dd) of any other entity holding, directly or 
     indirectly, including through formal or informal arrangements 
     to act in concert, a 5 percent or greater interest in the 
     entity are members of the Chinese Communist Party or have 
     been members of the Chinese Communist Party in the preceding 
     3 years.''.
       (b) Definition of Government of People's Republic of 
     China.--Section 721(a) of the Defense Production Act of 1950 
     (50 U.S.C. 4565(a)) is amended--

[[Page S3140]]

       (1) by redesignating paragraphs (8) through (13) as 
     paragraphs (9) through (14), respectively; and
       (2) by inserting after paragraph (7) the following:
       ``(7) Government of people's republic of china.--The term 
     `Government of the People's Republic of China' includes the 
     national and subnational governments within the People's 
     Republic of China, including any departments, agencies, or 
     instrumentalities of such governments.''.
       (c) Mandatory Filing of Declarations.--Section 
     721(b)(1)(C)(v)(IV)(bb) of the Defense Production Act of 1950 
     (50 U.S.C. 4565(b)(1)(C)(v)(IV)(bb)) is amended by adding at 
     the end the following:
       ``(DD) Greenfield investments by people's republic of 
     china.--The parties to a covered transaction described in 
     subsection (a)(4)(B)(vi) shall submit a declaration described 
     in subclause (I) with respect to the transaction.''.
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