To amend the Defense Production Act of 1950 to prohibit acquisitions, mergers, or takeovers of persons engaged in interstate commerce in the United States by entities controlled by or acting on behalf of foreign governments that do not recognize countries that are member states of the United Nations, participate in boycotts against countries that are friendly to the United States, or provide support for international terrorism.
About This Bill
Committee
Latest Action · April 21, 2006
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Amends the Defense Production Act of 1950 to require the President to prohibit any acquisition, merger, or takeover that will result in control of a person engaged in interstate commerce in the United States by an entity controlled by or acting on behalf of a foreign government that: (1) does not recognize any country that is a member of the United Nations (U.N.); (2) takes any action to support any boycott against a country that is friendly to the United States and that is not itself the object of any form of boycott pursuant to U.S. law or regulation; or (3) the Secretary of State has determined is a government that has repeatedly provided support for acts of international terrorism.
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