S. 1388

119th CONGRESS 1st Session

To require the review by the Committee on Foreign Investment in the United States of greenfield and brownfield investments by foreign countries of concern.

IN THE SENATE OF THE UNITED STATES · April 9, 2025 · Sponsor: Mr. Moreno · Committee: Committee on Banking, Housing, and Urban Affairs

Table of contents

• S. 1388
  • SEC. 1. Short title
  • SEC. 2. Review by Committee on Foreign Investment in the United States of greenfield and brownfield investments by foreign countries of concern

SEC. 1. Short title

• This Act may be cited as the or the .

SEC. 2. Review by Committee on Foreign Investment in the United States of greenfield and brownfield investments by foreign countries of concern

• (a) Inclusion in definition of covered transaction
  • Section 721(a)(4) of the Defense Production Act of 1950 () is amended— 50 U.S.C. 4565(a)(4)
    • in subparagraph (A)—
    • in subparagraph (B), by adding at the end the following:
    • in subparagraph (C)(i), in the matter preceding subclause (I), by striking subparagraph (B)(ii)and inserting clause (ii) or (vi) of subparagraph (B); and
    • in subparagraph (E), by striking clauses (ii) and (iii)and inserting clauses (ii), (iii), and (vi).
• (b) Mandatory filing of declarations
  • The parties to a covered transaction described in subsection (a)(4)(B)(vi) shall submit a declaration described in subclause (I) with respect to the transaction.
  • Section 721(b)(1)(C)(v)(IV)(bb) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(1)(C)(v)(IV)(bb)) is amended by adding at the end the following: