[Congressional Record Volume 167, Number 90 (Monday, May 24, 2021)]
[Senate]
[Pages S3353-S3354]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1940. Mr. RUBIO submitted an amendment intended to be proposed to 
amendment SA 1502 proposed by Mr. Schumer 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 end of subtitle B of title II of division E, add 
     the following:

     SEC. 5214. REVIEWS BY COMMITTEE ON FOREIGN INVESTMENT IN THE 
                   UNITED STATES OF COVERED TRANSACTIONS INVOLVING 
                   GENETIC INFORMATION.

       (a) Requirements for Reviews.--
       (1) Mandatory declarations.--Section 721(b)(1)(C)(v)(IV) of 
     the Defense Production Act of 1950 (50 U.S.C. 
     4565(b)(1)(C)(v)(IV)) is amended--
       (A) by redesignating items (cc) through (gg) as items (dd) 
     through (hh), respectively; and
       (B) by inserting after item (bb) the following:
       ``(cc) Covered transactions involving genetic 
     information.--The parties to a covered transaction shall 
     submit a declaration described in subclause (I) with respect 
     to the transaction if the transaction involves an investment 
     described in subsection (a)(4)(B)(iii)(III) by a foreign 
     person in a United States business that maintains or collects 
     information about genetic tests of United States citizens, 
     including any such information relating to genomic 
     sequencing.''.
       (2) Consultation with secretary of health and human 
     services.--Section 721(k)(6) of the Defense Production Act of 
     1950 (50 U.S.C. 4565(k)(6)) is amended--
       (A) by striking ``The chairperson'' and inserting the 
     following:
       ``(A) In general.--The chairperson''; and
       (B) by adding at the end the following:
       ``(B) Covered transactions involving genetic information.--
     The chairperson shall consult with the Secretary of Health 
     and Human Services in any review or investigation under 
     subsection (a) of a covered transaction that involves an 
     investment described in subsection (a)(4)(B)(iii)(III) by a 
     foreign person in a United States business that maintains or 
     collects information about genetic tests of United States 
     citizens, including any such information relating to genomic 
     sequencing.''.
       (3) Regulations.--Not later than 180 days after the date of 
     the enactment of this Act, the Committee on Foreign 
     Investment in the United States shall prescribe regulations 
     to carry out the amendments made by this subsection.
       (b) Expansion of Committees Receiving Annual Testimony From 
     Committee on Foreign Investment in the United States.--
     Section 721(o) of the Defense Production Act of 1950 (50 
     U.S.C. 4565(o)) is amended--
       (1) in paragraph (1), in the matter preceding subparagraph 
     (A), by striking ``the Committee on Financial Services of the 
     House of Representatives and the Committee on Banking, 
     Housing, and Urban Affairs of the Senate'' and inserting 
     ``the committees specified in paragraph (2)'';
       (2) by redesignating paragraph (2) as paragraph (3); and
       (3) by inserting after paragraph (1) the following:
       ``(2) Committees specified.--The committees specified in 
     this paragraph are--

[[Page S3354]]

       ``(A) the Committee on Banking, Housing, and Urban Affairs, 
     the Committee on Foreign Relations, and the Select Committee 
     on Intelligence of the Senate; and
       ``(B) the Committee on Financial Services, the Committee on 
     Foreign Affairs, and the Permanent Select Committee on 
     Intelligence of the House of Representatives.''.
       (c) Effective Date; Applicability.--The amendments made by 
     this section shall--
       (1) take effect on the date that is 90 days after the date 
     of the enactment of this Act; and
       (2) apply with respect to any covered transaction the 
     review or investigation of which is initiated under section 
     721 of the Defense Production Act of 1950 on or after the 
     date described in paragraph (1).
                                 ______