HR 4807 109th Congress House Foreign Trade and International Finance Armed Forces and National Security Civil actions and liability Classified defense information Commerce Congress Congressional oversight Congressional reporting requirements Congressional veto Congressional-executive relations Corporate divestiture Corporate mergers Corporation directors Crime and Law Enforcement Criminal justice information Customs administration Dubai Ports World aftermath legislation Executives Federal advisory bodies Foreign corporations

Foreign Investment Security Improvement Act of 2006

Introduced: February 28, 2006 See on congress.gov

Everywhere this bill has been 5 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 21, 2006

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

Mar 17, 2006

Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman.

Feb 28, 2006

Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, International Relations, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Feb 28, 2006

Sponsor introductory remarks on measure. (CR E233-235)

Feb 28, 2006

Introduced in House

Plain-English summary Congressional Research Service

Foreign Investment Security Improvement Act of 2006 - Directs the President (or the President's designee) to investigate, under the Defense Production Act of 1950, the acquisition by Dubai Ports World (DP World), an entity owned or controlled by the Emirate of Dubai, of the Peninsular and Oriental (P&O) Steam Navigation Company, a national of the United Kingdom. Requires such investigation to be completed within 45 days after enactment of this Act.

Directs the President to suspend any decision, under provisions of the Defense Production Act of 1950 permitting the President to stop the acquisition because it will impair national security, with respect to such acquisition made before the completion of the investigation, including any decision made before enactment of this Act.

Specifies requirements for the investigation. Requires the Secretary of Homeland Security to provide information for the investigation, including: (1) relevant information on DP World from the Automated Targeting System maintained by U.S. Customs and Border Protection; and (2) port assessments at foreign seaports where DP World operates.

Requires the President to: (1) report to Congress within 15 days after completion of the investigation; and (2) provide certain Members of Congress a detailed briefing on the contents of the report.

Requires the President to take action necessary to prohibit the acquisition if the President does not stop the acquisition under the provisions of the Defense Production Act of 1950 permitting the President to stop the acquisition because it will impair national security if a joint resolution of disapproval is enacted into law within 30 days after Congress receives a report from the President that an acquisition will not be stopped. Requires, if such acquisition has been already been completed, the President to direct the Attorney General to seek divestment or other appropriate relief in US district courts.

What's happening now March 21, 2006

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

Committees of jurisdiction 6