HR 5581 — Foreign Investment and Economic Security Act of 2014

1 sponsors · 0 co-sponsors · 546 not signed on

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Frequently asked questions

What does HR 5581 do?

Foreign Investment and Economic Security Act of 2014 - Amends the Defense Production Act of 1950 to provide for: (1) national security reviews of transactions involving the construction of a new facility in the United States by any foreign person (currently, national security reviews are conducted only for certain mergers, acquisitions, or takeovers by or with a foreign person); and (2) net benefit reviews of new construction, mergers, acquisitions, or takeovers by or with a foreign person to determine whether the transaction is of net benefit to the United States. Makes net benefit reviews mandatory for transactions that meet specified requirements under the Clayton Act. Directs the Committee on Foreign Investment in the United States, for purposes of carrying out net benefit determinations, to consider the effect of the proposed or pending transaction on: (1) employment, resource processing, the utilization of parts and services produced in or imported into the United States, and U.S. exports; (2) industrial efficiency, technological development, technology transfers, and product innovation in the United States; (3) competition within any U.S. industry or between the United States and other countries; (4) compatibility with national industrial, economic, and cultural policies; and (5) public health, safety, and well-being of U.S. consumers. Requires the Committee, in the case of a net benefit determination concerning a foreign government-influenced transaction, to consider additional factors including: the governance and commercial orientation of the foreign person engaging in such transaction; the extent to which the foreign person is owned, controlled, or influenced by the foreign government; and adherence to U.S. law and corporate governance standards, engagement of the foreign country with the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board, and the likelihood of operation on a commercial basis. Requires final determinations of the Committee to be certified to Congress. Requires the Committee to refer to the President any of the Committee's final determinations that a transaction will not be of net benefit to the United States. Requires the President to announce the determination regarding such transactions. Prohibits transactions that the President determines are not of net benefit to the United States. Requires the President to direct the Attorney General (DOJ) to seek appropriate relief in U.S. district courts to implement and enforce this Act. Bars judicial review of such determinations. Revises, for purposes of carrying out net benefit determinations, the composition of the Committee.

Who sponsors HR 5581?

HR 5581 is sponsored by Rosa DeLauro (D).

What is the current status of HR 5581?

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

Where can I track HR 5581?

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