To amend the Defense Production Act of 1950 to allow an Indian Tribe to request CFIUS review of certain transactions between the Indian Tribe and foreign persons, and for other purposes.
About This Bill
Committee
Latest Action · February 29, 2024
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, 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.
This bill amends the Defense Production Act of 1950 to give Indian Tribes the ability to request a review by CFIUS (the Committee on Foreign Investment in the United States) when they are considering transactions with foreign persons or entities. Currently, CFIUS reviews foreign investments in U.S. businesses and real estate to assess national security concerns, but Indian Tribes cannot initiate such reviews for their own transactions. The legislation would allow federally recognized Indian Tribes to request CFIUS review of deals involving their land and business assets before proceeding, ensuring they have the same national security vetting tools available to other U.S. entities. There is no specific funding or timeline mentioned in the bill text. The measure was introduced in February 2024 and referred to the House Committee on Financial Services, as well as the Committees on Energy and Commerce and Foreign Affairs.
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