S 2098
115th Congress
Senate
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Foreign Investment Risk Review Modernization Act of 2018
Everywhere this bill has been
8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.
May 22, 2018
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute and an amendment to the title. Without written report.
May 22, 2018
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Jan 30, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.
Jan 25, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.
Jan 18, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Nov 8, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S7111-7118)
Nov 8, 2017
Introduced in Senate
Plain-English summary
Foreign Investment Risk Review Modernization Act of 2017
This bill amends the Defense Production Act of 1950 to expand the scope of "covered transaction" subject to the review of the Committee on Foreign Investment in the United States (CFIUS). CFIUS analyzes the national security implications of foreign investment in the United States.
A covered transaction includes:
- any merger, acquisition, or takeover that could result in foreign control of any U.S. business,
- the purchase or lease of real estate located in the United States that is in close proximity to a U.S. military installation or to another U.S. government facility or property that is sensitive for reasons relating to national security,
- other investment in a U.S. critical technology company or U.S. critical infrastructure company,
- any change in a foreign investor's rights that results in foreign control of a U.S. business,
- the contribution of intellectual property to a foreign person, or
- any other transaction, transfer, agreement, or arrangement designed to evade or circumvent the authority of CFIUS.
The bill revises other provisions relating to CFIUS, including the length of its review period, special hiring authority and funding, and authority to mandate reviews or take unilateral action.
What's happening now
Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.
Committees of jurisdiction
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