The "FIRM Commitment Tracking Oversight Board Act" establishes the Foreign Investment Review Authority (FIRA) to oversee foreign investment commitments made to the United States. These commitments include those made as part of trade agreements, in response to trade measures, or through executive branch negotiations. FIRA's primary role is to identify and track these commitments, publicly listing details such as the investing parties, amounts, and locations. FIRA is governed by a Board of Directors and includes an Office of the Chief Ethics Officer and a Public Oversight Board to ensure transparency and address complaints. Investors are required to notify FIRA of covered investments, providing detailed ownership and financial information, and senior government officials must disclose any personal or family benefits from such investments. Failure to comply with these notice requirements can result in significant civil penalties. A central function of FIRA is to review investments to determine if they are "qualified investments" that count towards a foreign country's commitment. To be qualified, an investment must provide a net economic benefit to the United States, which includes promoting domestic growth, creating quality jobs, and not undermining existing businesses. Investments linked to entities on certain prohibited lists or those violating Federal ethics laws are explicitly disqualified. Exceptions exist for investments in government bonds or diversified market index funds. FIRA has the authority to require mediation for non-qualified investments to bring them into compliance or to suspend or prohibit them entirely. The bill also mandates that FIRA issue rules applying Federal ethics and transparency laws to all parties involved in covered investments. If a foreign country fails to fulfill its investment commitments within four years, the President is required to initiate negotiations to address the deficit. Finally, FIRA is tasked with extensive reporting requirements, including annual reports to Congress and semiannual public reports detailing implementation progress, job creation, and compliance with mitigation agreements. The Chief Ethics Officer further ensures transparency by providing quarterly public reports on complaints received and their resolutions.