Bill Text: IL HR0603 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Urges Congress to pass legislation and the President of the United States to sign into law a bill that would expand the jurisdiction of the Committee on Foreign Investment in the United States so that they review proposed land purchases and other incentives given to foreign-based companies to ensure that state and federal funds, as well public and private lands, are not awarded or sold to companies who pose national security risks.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-02-20 - Referred to Rules Committee [HR0603 Detail]
Download: Illinois-2023-HR0603-Introduced.html
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1 | HOUSE RESOLUTION | ||||||
2 | WHEREAS, The federal government enacted the Inflation | ||||||
3 | Reduction Act of 2022, which will make historic investments in | ||||||
4 | clean energy manufacturing by providing $369 billion in energy | ||||||
5 | security and climate change programs to increase domestic | ||||||
6 | manufacturing capacity for wind turbines, solar panels, | ||||||
7 | batteries, electric vehicles, and other essential components | ||||||
8 | of clean energy production and storage; and
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9 | WHEREAS, The State of Illinois has created law, including | ||||||
10 | the Reimagining Electric Vehicles Act (REV) and the Invest in | ||||||
11 | Illinois Act (Closing Fund), that is targeted towards | ||||||
12 | investing State funds into clean energy manufacturing; and
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13 | WHEREAS, United States-based companies are currently at a | ||||||
14 | competitive disadvantage when it comes to renewable energy | ||||||
15 | manufacturing, with 10 of the world's largest electric battery | ||||||
16 | makers being located outside of the United States, according | ||||||
17 | to Automotive News; and
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18 | WHEREAS, The Committee on Foreign Investment in the United | ||||||
19 | States (CFIUS) is an interagency committee authorized to | ||||||
20 | review certain transactions involving foreign investment in | ||||||
21 | the United States and certain real estate transactions by | ||||||
22 | foreign persons, in order to determine the effect of such |
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1 | transactions on the national security of the United States; | ||||||
2 | and
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3 | WHEREAS, CFIUS's jurisdiction over real estate | ||||||
4 | transactions is limited to acquisitions or leases of sites | ||||||
5 | near certain military installations and other sensitive | ||||||
6 | government locations; and
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7 | WHEREAS, CFIUS also has the authority to scrutinize | ||||||
8 | foreign investment transactions where a foreign person will | ||||||
9 | gain or potentially gain control over, or make certain other | ||||||
10 | types of investment in, a U.S. business; and
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11 | WHEREAS, CFIUS has found that recent land acquisitions by | ||||||
12 | some foreign-based renewable energy manufacturers satisfied | ||||||
13 | neither requirement that would prompt a review by the | ||||||
14 | committee; and
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15 | WHEREAS, It is of the utmost importance that the U.S. | ||||||
16 | protects its national security when dealing with companies | ||||||
17 | based in foreign countries that actively undermine U.S. | ||||||
18 | interests; and
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19 | WHEREAS, CFIUS should be empowered to thoroughly review | ||||||
20 | transactions with foreign-based manufacturers to ensure that | ||||||
21 | land acquisitions or other manufacturing incentives are not |
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1 | going to companies who pose a national security risk; | ||||||
2 | therefore, be it
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3 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
4 | HUNDRED THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
5 | we urge Congress to pass legislation and the President of the | ||||||
6 | United States to sign into law a bill that would expand the | ||||||
7 | jurisdiction of the Committee on Foreign Investment in the | ||||||
8 | United States so that they review proposed land purchases and | ||||||
9 | other incentives given to foreign-based companies to ensure | ||||||
10 | that state and federal funds, as well public and private | ||||||
11 | lands, are not awarded or sold to companies who pose national | ||||||
12 | security risks; and be it further
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