[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 813 Engrossed in House (EH)]
<DOC>
118th CONGRESS
1st Session
H. R. 813
_______________________________________________________________________
AN ACT
To direct the Secretary of Commerce, in coordination with the heads of
other relevant Federal departments and agencies, to conduct an
interagency review of and report to Congress on ways to increase the
global competitiveness of the United States in attracting foreign
direct investment.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Global Investment in American Jobs
Act of 2023''.
SEC. 2. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the ability of the United States to attract foreign
direct investment from responsible private-sector entities
based in trusted countries is directly linked to the long-term
economic prosperity, global competitiveness, and security of
the United States;
(2) it is a top national priority to enhance the global
competitiveness, economic prosperity, and security of the
United States by--
(A) removing unnecessary barriers to foreign direct
investment from responsible private-sector entities
based in trusted countries and the jobs that such
investment creates throughout the United States;
(B) promoting policies to ensure the United States
remains the premier global destination to invest, hire,
innovate, provide services, and manufacture products;
(C) promoting policies to ensure the United States
remains the global leader in developing and deploying
cutting-edge technologies, such as self-driving vehicle
technology, artificial intelligence, Internet of
Things, quantum computing, blockchain; and
(D) promoting policies that maintain and expand
resilient supply chains and reduce the dependence of
the United States on supply chains from China and other
foreign adversaries;
(3) maintaining the United States commitment to an open
investment policy with private-sector entities based in trusted
countries encourages other countries to reciprocate and enable
the United States to open new markets abroad for United States
companies and their products;
(4) while foreign direct investment by responsible private-
sector entities based in trusted countries can enhance the
United States economic strength, policies regarding foreign
direct investment should reflect security interests and should
not disadvantage domestic investors, companies, or the
workforce;
(5) United States efforts to attract foreign direct
investment from responsible private-sector entities based in
trusted countries should be consistent with efforts to maintain
and improve the domestic standard-of-living, including for the
workforce;
(6) as digital information becomes increasingly important
to the United States economy and the development of new
technologies and services that will be crucial to the country's
competitiveness in the 21st century global economy, barriers
including data localization and infringement of intellectual
property rights must be further addressed;
(7) foreign direct investment by companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party is a threat to United States security
and merits an aggressive policy framework to protect United
States interests, jobs, intellectual property, and security;
(8) foreign direct investment from any source should not
result in the net loss of United States economic activity,
productive capabilities, and supply chain resilience; and
(9) foreign direct investment from any source should
strengthen United States security and support United States
workforce, health and safety, consumer, and financial
standards.
SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW.
(a) Review.--The Secretary, in consultation with the Federal
Interagency Investment Working Group established pursuant to Executive
Order No. 13577 (76 Fed. Reg. 35715; relating to establishment of the
SelectUSA Initiative) and in consultation with the heads of other
relevant agencies, shall conduct an interagency review of the global
competitiveness of the United States in attracting foreign direct
investment from responsible private-sector entities based in trusted
countries and addressing key foreign trade barriers that firms in
advanced technology sectors face in the global digital economy.
(b) Specific Matters To Be Included.--The review conducted pursuant
to subsection (a) shall include a review of the following:
(1) The economic impact of foreign direct investment in the
United States, with particular focus on manufacturing,
services, trade (with an emphasis on digital trade), and United
States jobs.
(2) Trends in global cross-border investment and data flows
and the underlying factors for such trends.
(3) Federal Government policies, that facilitate foreign
direct investment attraction and retention from responsible
private-sector entities based in trusted countries.
(4) Foreign direct investment as compared to direct
investment by domestic entities.
(5) Foreign direct investment that takes the form of
greenfield investment as compared to foreign direct investment
relating to merger and acquisition activity.
(6) The unique challenges posed by foreign direct
investment, particularly acquisitions, in the United States by
State-owned or State-backed enterprises, especially from State-
directed economies, including companies or other entities
owned, directed, supported, or influenced by the Chinese
Communist Party.
(7) Specific information on the prevalence of investments
made by State-owned or State-backed enterprises, especially
from State-directed economies, including companies or other
entities owned, directed, supported, or influenced by the
Chinese Communist Party, with a particular focus on investments
relating to manufacturing, services, trade (with an emphasis on
digital trade), and jobs.
(8) How other trusted countries are dealing with the
challenge, including screening for and preventing market
distorting investments, of State-directed and State-supported
investment and whether there are opportunities to work with
like-minded nations to address such challenge.
(9) Ongoing Federal Government efforts to improve the
investment climate and facilitate greater levels of foreign
direct investment in the United States from responsible
private-sector entities based in trusted countries.
(10) Innovative and noteworthy initiatives by State and
local government to attract foreign investment from responsible
private-sector entities based in trusted countries.
(11) Initiatives by other countries to identify best
practices for increasing global competitiveness in attracting
foreign direct investment from responsible private-sector
entities based in trusted countries.
(12) The impact that protectionist policies by other
countries, including forced data localization rules, forced
localization of production, industrial subsidies, and the
infringement of intellectual property rights, have on the
advanced technology economy of the United States and the
ability for United States located firms to develop innovative
technologies.
(13) Other barriers to the ability of the United States to
compete globally in an increasingly connected and digital
global economy, including the use of technical barriers to
trade (such as country-specific standards for technology
products and digital services).
(14) The adequacy of efforts by the Federal Government to
encourage and facilitate foreign direct investment in the
United States.
(15) Efforts by the Chinese Communist Party to circumvent
existing laws to gain access to United States markets, foreign
direct investment responsible private-sector entities based in
trusted countries, or intellectual property.
(16) The extent to which foreign direct investment from any
source, including the Chinese Communist Party, results in
displacement, offshoring, or outsourcing, including the impact
of such investment on supply chains.
(c) Limitation.--The review conducted pursuant to subsection (a)
may not address laws or policies relating to the Committee on Foreign
Investment in the United States.
(d) Public Comment.--
(1) Review.--Not sooner than 60 days before the date on
which the review is commenced pursuant to subsection (a), the
Secretary shall publish notice of the review in the Federal
Register and shall provide an opportunity for public comment on
the matters to be covered by the review.
(2) Report.--Not sooner than 60 days before the date on
which the report is submitted pursuant to subsection (e), the
Secretary shall publish the proposed findings and
recommendations in the Federal Register and shall provide an
opportunity for public comment.
(e) Report to Congress.--Not later than one year after the date of
the enactment of this Act, the Secretary, in coordination with the
Federal Interagency Investment Working Group and the heads of other
relevant agencies, shall submit to Congress and the Comptroller General
a report on the findings of the review required pursuant to subsection
(a) and include recommendations for increasing the global
competitiveness of the United States in attracting foreign direct
investment from responsible private-sector entities based in trusted
countries in a manner that strengthens or maintains the security,
workforce, consumer, or financial protections of the United States.
(f) Comptroller General Review.--Not later than one year after the
date on which the Comptroller General receives the report pursuant to
subsection (e), the Comptroller General shall submit to Congress a
review and assessment of the report.
(g) Definitions.--In this Act:
(1) Agency.--The term ``agency'' has the meaning given that
term in section 551 of title 5, United States Code.
(2) Foreign adversary.--The term ``foreign adversary'' has
the meaning given that term in part 7.4 of title 15, Code of
Federal Regulations.
(3) Responsible private-sector entity.--The term
``responsible private-sector entity'' means an entity that the
Secretary determines is--
(A) not organized under the laws of a foreign
adversary; and
(B) not owned, controlled, or otherwise subject to
the influence of, a foreign adversary.
(4) Secretary.--The term ``Secretary'' means the Secretary
of Commerce.
(5) State.--The term ``State'' means each State of the
United States, the District of Columbia, each commonwealth,
territory, or possession of the United States, and each
federally recognized Indian Tribe.
(6) Trusted country.--The term ``trusted country'' means a
country or economy that is not determined by the Secretary to
be a foreign adversary of the United States.
Passed the House of Representatives July 17, 2023.
Attest:
Clerk.
118th CONGRESS
1st Session
H. R. 813
_______________________________________________________________________
AN ACT
To direct the Secretary of Commerce, in coordination with the heads of
other relevant Federal departments and agencies, to conduct an
interagency review of and report to Congress on ways to increase the
global competitiveness of the United States in attracting foreign
direct investment.