Summary

Expands the Defense Production Act’s definition of "covered transaction" to bring certain greenfield (new) and brownfield (existing) investments by foreign persons from countries of concern under the law. The change captures investments that could give a foreign person control of a U.S. business — including via formal or informal arrangements to act in concert — and applies to transactions proposed or pending on or after enactment. The amendment adjusts statutory cross-references to include the new investment category and makes a minor technical punctuation edit; it does not authorize new spending or set new deadlines or agencies beyond the existing national-security review framework.

• Amends the Defense Production Act definition of "covered transaction" to include certain greenfield and brownfield investments by foreign persons from countries of concern.
• Covers investments that could result in control of a U.S. business, including through formal or informal arrangements or acting-in-concert.
• Applies to transactions proposed or pending on or after enactment.
• Updates statutory cross-references so the new investment category is treated alongside existing clauses in 50 U.S.C. 4565(a)(4).
• Does not create new spending, agencies, or specific deadlines — it is a definitional/legal expansion within existing national-security review authority.
• Likely increases the number and types of inbound investments subject to national-security review.
• Targets inbound foreign investment from "countries of concern," so impact depends on how that designation is applied in practice.
• Includes only a minor technical/punctuation edit elsewhere in the statute.