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Foreign Investment Risk Review Modernization Act of 2018

USA115th CongressS-2098| Senate 
| Updated: 5/22/2018
John Cornyn

John Cornyn

Republican Senator

Texas

Cosponsors (12)
Dan Sullivan (Republican)Dianne Feinstein (Democratic)Amy Klobuchar (Democratic)Joe Manchin (Independent)Tim Scott (Republican)James Lankford (Republican)John Barrasso (Republican)Tammy Baldwin (Democratic)Susan M. Collins (Republican)Marco Rubio (Republican)Gary C. Peters (Democratic)Richard Burr (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Foreign Investment Risk Review Modernization Act of 2017 This bill amends the Defense Production Act of 1950 to expand the scope of "covered transaction" subject to the review of the Committee on Foreign Investment in the United States (CFIUS). CFIUS analyzes the national security implications of foreign investment in the United States. A covered transaction includes: any merger, acquisition, or takeover that could result in foreign control of any U.S. business, the purchase or lease of real estate located in the United States that is in close proximity to a U.S. military installation or to another U.S. government facility or property that is sensitive for reasons relating to national security, other investment in a U.S. critical technology company or U.S. critical infrastructure company, any change in a foreign investor's rights that results in foreign control of a U.S. business, the contribution of intellectual property to a foreign person, or any other transaction, transfer, agreement, or arrangement designed to evade or circumvent the authority of CFIUS. The bill revises other provisions relating to CFIUS, including the length of its review period, special hiring authority and funding, and authority to mandate reviews or take unilateral action.

Bill Text Versions

View Text
2 versions available

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Timeline
Nov 8, 2017
Introduced in Senate
Nov 8, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S7111-7118)
Jan 18, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jan 25, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.
Jan 30, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.
May 22, 2018
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
May 22, 2018
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute and an amendment to the title. Without written report.
May 22, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.
Jun 27, 2018

Latest Companion Bill Action

HR 115-5841
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 492.
  • November 8, 2017
    Introduced in Senate


  • November 8, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S7111-7118)


  • January 18, 2018
    Committee on Banking, Housing, and Urban Affairs. Hearings held.


  • January 25, 2018
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.


  • January 30, 2018
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.


  • May 22, 2018
    Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • May 22, 2018
    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute and an amendment to the title. Without written report.


  • May 22, 2018
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.


  • June 27, 2018

    Latest Companion Bill Action

    HR 115-5841
    Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 492.

Foreign Trade and International Finance

Related Bills

  • HR 115-5515: John S. McCain National Defense Authorization Act for Fiscal Year 2019
  • HR 115-4311: To modernize and strengthen the Committee on Foreign Investment in the United States to more effectively guard against the risk to the national security of the United States posed by certain types of foreign investment, and for other purposes.
Administrative law and regulatory proceduresAdministrative remediesAdvisory bodiesAlliancesAsiaChinaCivil actions and liabilityComputer security and identity theftCongressional oversightCorporate finance and managementCriminal investigation, prosecution, interrogationDefense spendingDepartment of CommerceDepartment of DefenseElections, voting, political campaign regulationExecutive agency funding and structureFederal officialsFinancial services and investmentsForeign and international corporationsFreedom of informationGovernment employee pay, benefits, personnel managementGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsGovernment trust fundsIndustrial policy and productivityInfrastructure developmentIntellectual propertyIntelligence activities, surveillance, classified informationJudicial review and appealsLicensing and registrationsManufacturingMilitary facilities and propertyMilitary procurement, research, weapons developmentPresidents and presidential powers, Vice PresidentsPublic contracts and procurementPublic transitRailroadsReal estate businessResearch and developmentSanctionsTechnology transfer and commercializationTrade restrictionsU.S. and foreign investmentsUser charges and fees

Foreign Investment Risk Review Modernization Act of 2018

USA115th CongressS-2098| Senate 
| Updated: 5/22/2018
Foreign Investment Risk Review Modernization Act of 2017 This bill amends the Defense Production Act of 1950 to expand the scope of "covered transaction" subject to the review of the Committee on Foreign Investment in the United States (CFIUS). CFIUS analyzes the national security implications of foreign investment in the United States. A covered transaction includes: any merger, acquisition, or takeover that could result in foreign control of any U.S. business, the purchase or lease of real estate located in the United States that is in close proximity to a U.S. military installation or to another U.S. government facility or property that is sensitive for reasons relating to national security, other investment in a U.S. critical technology company or U.S. critical infrastructure company, any change in a foreign investor's rights that results in foreign control of a U.S. business, the contribution of intellectual property to a foreign person, or any other transaction, transfer, agreement, or arrangement designed to evade or circumvent the authority of CFIUS. The bill revises other provisions relating to CFIUS, including the length of its review period, special hiring authority and funding, and authority to mandate reviews or take unilateral action.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Nov 8, 2017
Introduced in Senate
Nov 8, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S7111-7118)
Jan 18, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jan 25, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.
Jan 30, 2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.
May 22, 2018
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
May 22, 2018
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute and an amendment to the title. Without written report.
May 22, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.
Jun 27, 2018

Latest Companion Bill Action

HR 115-5841
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 492.
  • November 8, 2017
    Introduced in Senate


  • November 8, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S7111-7118)


  • January 18, 2018
    Committee on Banking, Housing, and Urban Affairs. Hearings held.


  • January 25, 2018
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-160.


  • January 30, 2018
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-161.


  • May 22, 2018
    Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • May 22, 2018
    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with an amendment in the nature of a substitute and an amendment to the title. Without written report.


  • May 22, 2018
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.


  • June 27, 2018

    Latest Companion Bill Action

    HR 115-5841
    Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 492.
John Cornyn

John Cornyn

Republican Senator

Texas

Cosponsors (12)
Dan Sullivan (Republican)Dianne Feinstein (Democratic)Amy Klobuchar (Democratic)Joe Manchin (Independent)Tim Scott (Republican)James Lankford (Republican)John Barrasso (Republican)Tammy Baldwin (Democratic)Susan M. Collins (Republican)Marco Rubio (Republican)Gary C. Peters (Democratic)Richard Burr (Republican)

Banking, Housing, and Urban Affairs Committee

Foreign Trade and International Finance

Related Bills

  • HR 115-5515: John S. McCain National Defense Authorization Act for Fiscal Year 2019
  • HR 115-4311: To modernize and strengthen the Committee on Foreign Investment in the United States to more effectively guard against the risk to the national security of the United States posed by certain types of foreign investment, and for other purposes.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresAdministrative remediesAdvisory bodiesAlliancesAsiaChinaCivil actions and liabilityComputer security and identity theftCongressional oversightCorporate finance and managementCriminal investigation, prosecution, interrogationDefense spendingDepartment of CommerceDepartment of DefenseElections, voting, political campaign regulationExecutive agency funding and structureFederal officialsFinancial services and investmentsForeign and international corporationsFreedom of informationGovernment employee pay, benefits, personnel managementGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsGovernment trust fundsIndustrial policy and productivityInfrastructure developmentIntellectual propertyIntelligence activities, surveillance, classified informationJudicial review and appealsLicensing and registrationsManufacturingMilitary facilities and propertyMilitary procurement, research, weapons developmentPresidents and presidential powers, Vice PresidentsPublic contracts and procurementPublic transitRailroadsReal estate businessResearch and developmentSanctionsTechnology transfer and commercializationTrade restrictionsU.S. and foreign investmentsUser charges and fees