HR-4311 : Still Just a Bill

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.

Action Timeline

Action DateTypeTextSource
2018-04-12CommitteeHearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.House committee actions
2017-11-10CommitteeReferred to the Subcommittee on Digital Commerce and Consumer Protection.House committee actions
2017-11-08IntroReferralReferred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-11-08IntroReferralReferred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-11-08IntroReferralReferred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-11-08IntroReferralReferred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-11-08IntroReferralReferred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-11-08IntroReferralReferred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Foreign Affairs, Intelligence (Permanent Select), Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-11-08IntroReferralIntroduced in HouseLibrary of Congress

Policy Area :

Foreign Trade and International Finance
See Subjects
  • Administrative law and regulatory procedures
  • Administrative remedies
  • Alliances
  • Computer security and identity theft
  • Congressional oversight
  • Corporate finance and management
  • Defense spending
  • Executive agency funding and structure
  • Government employee pay, benefits, personnel management
  • Government information and archives
  • Government studies and investigations
  • Government trust funds
  • Industrial policy and productivity
  • Infrastructure development
  • Intellectual property
  • Intelligence activities, surveillance, classified information
  • Judicial review and appeals
  • Manufacturing
  • Military facilities and property
  • Military procurement, research, weapons development
  • Presidents and presidential powers, Vice Presidents
  • Public contracts and procurement
  • Real estate business
  • Technology transfer and commercialization
  • Trade restrictions
  • U.S. and foreign investments
  • User charges and fees
  • Department of Defense

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