US Congress Senate Bill 1983 (Prior Session Legislation)

---

Spectrum: Bipartisan Bill
Status: Introduced on October 18 2017 - 25% progression, died in chamber
Action: 2018-01-25 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.
Text: Latest bill text (Introduced) [PDF]

United States Foreign Investment Review Act of 2017 This bill amends the Trade Act of 1974 to require each party to a covered transaction to submit a written notification to the Department of Commerce of such transaction. "Covered transaction" is defined as any merger, acquisition, takeover, or investment, or the establishment of a new entity, by or with any person, that is proposed or pending after this bill's enactment that could result in foreign control of any individual or entity engaged in interstate commerce in the United States valued at: (1) $50 million or more, in the case of a transaction involving a state-owned enterprise; and (2) $1 billion or more, in the case of any other transaction. Upon receiving such notification, Commerce must: (1) review the transaction to determine its economic effect on the United States, considering specified economic factors; and (2) based on the results of the review, take appropriate action. The bill prohibits the expenditure of funds to encourage investment in the United States by any foreign state-owned enterprise that does not operate according to market considerations.

United States Foreign Investment Review Act of 2017

Sen. Sherrod Brown [D-OH]

Sen. Chuck Grassley [R-IA]

Date	Chamber	Action
2018-01-25	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.
2018-01-18	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held.
2017-10-18	Senate	Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2998-2999)

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/1983/all-info
Text	https://www.congress.gov/115/bills/s1983/BILLS-115s1983is.pdf