H.R.4917 - Protect America First Act of 2006109th Congress (2005-2006)
|Sponsor:||Rep. Barrow, John [D-GA-12] (Introduced 03/09/2006)|
|Committees:||House - Financial Services; International Relations; Energy and Commerce; Homeland Security|
|Latest Action:||03/17/2006 Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4917 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (03/09/2006)
Protect America First Act of 2006 - Amends the Defense Production Act of 1950 to direct the President, no later than five days after receipt of written notification of a proposed or pending corporate merger, acquisition, or takeover by an individual controlled or acting on behalf of a foreign government and which may be subject to an investigation for national security purposes, to notify congressional leadership of the receipt of such notification. Requires the President, no later than one day after commencing such an investigation, to provide such leadership notification of the investigation and relevant information regarding the proposed or pending merger, acquisition, or takeover.
Expresses the sense of Congress that: (1) the Committee on Foreign Investment in the United States (CFIUS) should be transferred from the Department of the Treasury to the Department of Homeland Security (DHS); and (2) the Secretary of Homeland Security should serve as CFIUS Chairman.