Bill Text: TX SB2142 | 2023-2024 | 88th Legislature | Engrossed


Bill Title: Relating to requiring the attorney general to establish a process to identify and report certain foreign-related transactions in this state to the Committee on Foreign Investment in the United States.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2023-05-06 - Referred to State Affairs [SB2142 Detail]

Download: Texas-2023-SB2142-Engrossed.html
 
 
  By: Parker S.B. No. 2142
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to requiring the attorney general to establish a process
  to identify and report certain foreign-related transactions in this
  state to the Committee on Foreign Investment in the United States.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 402, Government Code, is
  amended by adding Section 402.040 to read as follows:
         Sec. 402.040.  REPORTING NON-NOTIFIED FOREIGN TRANSACTIONS.  
  (a)  In this section, "non-notified transactions" means foreign
  investments in the United States that are not voluntarily submitted
  to the Committee on Foreign Investment in the United States for
  review under 50 U.S.C. Section 4565.
         (b)  The office of the attorney general shall establish a
  process by which local officials, state officials, or other persons
  may submit to the office information or concerns regarding
  non-notified transactions in this state. The office of the
  attorney general may adopt any necessary rules to implement this
  subsection.
         (c)  The attorney general may submit a memorandum or report
  concerning non-notified transactions the office of the attorney
  general has identified in this state to the Committee on Foreign
  Investment in the United States.
         (d)  The office of the attorney general shall:
               (1)  retain a copy of any documents submitted to the
  committee described by Subsection (c) that are included with a
  memorandum or report submitted under that subsection; and
               (2)  notify the legislature and the governor as soon as
  practicable after submitting a memorandum, report, or other
  information under Subsection (c).
         SECTION 2.  This Act takes effect September 1, 2023.
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