H.R.5841 - Foreign Investment Risk Review Modernization Act of 2018115th Congress (2017-2018)
|Sponsor:||Rep. Pittenger, Robert [R-NC-9] (Introduced 05/16/2018)|
|Committees:||House - Foreign Affairs; Financial Services; Energy and Commerce; Intelligence (Permanent Select); Oversight and Government Reform|
|Committee Reports:||H. Rept. 115-784|
|Latest Action:||Senate - 06/27/2018 Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 492. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.5841 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (05/16/2018)
Foreign Investment Risk Review Modernization Act of 2018
This bill amends the Defense Production Act of 1950 to revise the Committee on Foreign Investment in the United States' (CFIUS's) authority to review the national security implications of foreign investments. The definition of a "covered transaction" subject to CFIUS review is amended to include certain real estate transactions, sensitive transactions involving countries of special concern, and asset transfers pursuant to bankruptcy proceedings. Other topics revised by this bill include mitigation agreements, required CFIUS review factors, and CFIUS funding and resources.
The bill delays to 2021 the National Credit Union Administration rule titled "Risk-Based Capital" published on October 29, 2015.
Export Control Reform Act of 2018
Export Controls Act of 2018
The bill grants the President authority to control and regulate: (1) the export, reexport, and transfer of commodities, software, or technology; and (2) activities relating to specific nuclear, chemical, biological, or other weapons and related projects, and foreign intelligence services. The President must establish an interagency process to identify emerging technologies essential to national security.
Anti-Boycott Act of 2018
The President must issue regulations prohibiting specified actions with respect to foreign boycotts against a country friendly to the United States.
The President must impose sanctions regarding the export, the transfer, or efforts by a foreign country to use or acquire specified weapons technology.