S.Amdt. 1863

SA 1863. Mr. REED submitted an amendment intended to be proposed by
him to the bill S. 4049, to authorize appropriations for fiscal year
2021 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. PROVISION OF ASSISTANCE BY COMMITTEE ON FOREIGN
INVESTMENT IN THE UNITED STATES TO ALLIES AND
PARTNERS WITH RESPECT TO REVIEWING FOREIGN
INVESTMENT.

Section 721(c)(3) of the Defense Production Act of 1950 (50
U.S.C. 4565(c)(3)) is amended--
(1) by striking subparagraph (A) and inserting the
following:
``(A) In general.--The chairperson, in the discretion of
the chairperson and in consultation with other members of the
Committee, should, to protect the national security of the
United States and countries that are allies or partners of
the United States, establish a formal process for--
``(i) the exchange of information under paragraph (2)(C)
with the governments of such countries; and
``(ii) the provision of assistance to those countries with
respect to--

``(I) reviewing foreign investment transactions in such
countries;
``(II) determining the beneficial ownership of parties to
such transactions; and
``(III) identifying trends in investment and technology
that could pose risks to the national security of the United
States and such countries.''; and

(2) in subparagraph (B)--
(A) in clause (ii), by striking ``; and'' and inserting a
semicolon;
(B) by redesignating clause (iii) as clause (iv); and
(C) by inserting after clause (ii) the following:
``(iii) provide for the provision of assistance to support
those countries to review foreign investment transactions in
such countries and determine the beneficial ownership of the
parties to such transactions; and''.
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