S.Amdt. 1940

SA 1940. Mr. RUBIO submitted an amendment intended to be proposed to
amendment SA 1502 proposed by Mr. Schumer to the bill S. 1260, to
establish a new Directorate for Technology and Innovation in the
National Science Foundation, to establish a regional technology hub
program, to require a strategy and report on economic security,
science, research, innovation, manufacturing, and job creation, to
establish a critical supply chain resiliency program, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of subtitle B of title II of division E, add
the following:

SEC. 5214. REVIEWS BY COMMITTEE ON FOREIGN INVESTMENT IN THE
UNITED STATES OF COVERED TRANSACTIONS INVOLVING
GENETIC INFORMATION.

(a) Requirements for Reviews.--
(1) Mandatory declarations.--Section 721(b)(1)(C)(v)(IV) of
the Defense Production Act of 1950 (50 U.S.C.
4565(b)(1)(C)(v)(IV)) is amended--
(A) by redesignating items (cc) through (gg) as items (dd)
through (hh), respectively; and
(B) by inserting after item (bb) the following:
``(cc) Covered transactions involving genetic
information.--The parties to a covered transaction shall
submit a declaration described in subclause (I) with respect
to the transaction if the transaction involves an investment
described in subsection (a)(4)(B)(iii)(III) by a foreign
person in a United States business that maintains or collects
information about genetic tests of United States citizens,
including any such information relating to genomic
sequencing.''.
(2) Consultation with secretary of health and human
services.--Section 721(k)(6) of the Defense Production Act of
1950 (50 U.S.C. 4565(k)(6)) is amended--
(A) by striking ``The chairperson'' and inserting the
following:
``(A) In general.--The chairperson''; and
(B) by adding at the end the following:
``(B) Covered transactions involving genetic information.--
The chairperson shall consult with the Secretary of Health
and Human Services in any review or investigation under
subsection (a) of a covered transaction that involves an
investment described in subsection (a)(4)(B)(iii)(III) by a
foreign person in a United States business that maintains or
collects information about genetic tests of United States
citizens, including any such information relating to genomic
sequencing.''.
(3) Regulations.--Not later than 180 days after the date of
the enactment of this Act, the Committee on Foreign
Investment in the United States shall prescribe regulations
to carry out the amendments made by this subsection.
(b) Expansion of Committees Receiving Annual Testimony From
Committee on Foreign Investment in the United States.--
Section 721(o) of the Defense Production Act of 1950 (50
U.S.C. 4565(o)) is amended--
(1) in paragraph (1), in the matter preceding subparagraph
(A), by striking ``the Committee on Financial Services of the
House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate'' and inserting
``the committees specified in paragraph (2)'';
(2) by redesignating paragraph (2) as paragraph (3); and
(3) by inserting after paragraph (1) the following:
``(2) Committees specified.--The committees specified in
this paragraph are--

[[Page S3354]]

``(A) the Committee on Banking, Housing, and Urban Affairs,
the Committee on Foreign Relations, and the Select Committee
on Intelligence of the Senate; and
``(B) the Committee on Financial Services, the Committee on
Foreign Affairs, and the Permanent Select Committee on
Intelligence of the House of Representatives.''.
(c) Effective Date; Applicability.--The amendments made by
this section shall--
(1) take effect on the date that is 90 days after the date
of the enactment of this Act; and
(2) apply with respect to any covered transaction the
review or investigation of which is initiated under section
721 of the Defense Production Act of 1950 on or after the
date described in paragraph (1).
______