To require the Committee on Foreign Investment in the United States to respond to the Governor of a State who requests a determination with respect to whether a transaction would trigger a review by the Committee.
About This Bill
Committee
Latest Action · February 8, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill requires the Committee on Foreign Investment in the United States (CFIUS) to respond to state governors who ask whether a specific business transaction would be subject to federal review. Currently, CFIUS reviews foreign investments in U.S. companies to protect national security, but governors have no formal mechanism to get advance guidance on whether their state's deals fall under this review process. The legislation adds a requirement that CFIUS must answer such requests within 30 days, giving state officials greater visibility into which foreign investments might trigger federal scrutiny. The bill affects state governors, foreign investors, and companies involved in transactions that might raise national security concerns. There is no specific funding authorization in the bill; it simply imposes a new notification and response requirement on the existing CFIUS process.
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