S.Amdt. 3114

SA 3114. Mr. CARDIN submitted an amendment intended to be proposed by
him to the bill S. 4638, to authorize appropriations for fiscal year
2025 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 end of subtitle F of title XII, add the following:

SEC. 1291. ASSISTANCE TO ADVANCE FOREIGN INVESTMENT SCREENING
OF UNITED STATES ALLIES AND PARTNERS TO PROTECT
NATIONAL INTERESTS.

(a) Technical Assistance to Foreign Partners.--The
Secretary of State, in consultation with the Secretary of the
Treasury and, as appropriate, the heads of other Federal
departments and agencies as the President determines
appropriate, shall offer to provide technical assistance to
the governments of countries that are allies and partners of
the United States in establishing or improving legislative
and regulatory frameworks to screen foreign investment for
national security risks that are, to the extent possible,
similar to the frameworks set forth in section 721 of the
Defense Production Act of 1950 (50 U.S.C. 4565).
(b) Engagement With Foreign Partners.--In carrying out
subsection (a), the Secretary of State, in consultation with
the Secretary of the Treasury and, as appropriate, the heads
of other Federal departments and agencies, shall actively
encourage the government of each country that is an ally or
partner of the United States--
(1) to establish transparent protocols for screening
foreign investment that protect the national security
interests of such country; and
(2) to make decisions on the basis of the potential
national security risk of such investments.
(c) Diplomatic Engagement.--In providing the technical
assistance described in subsection (b), the Secretary of
State shall--
(1) consult closely with the intended recipient of such
assistance to reach a mutual understanding regarding the
scope and nature of the country's particular national
security needs with respect to investment screening and the
appropriate response to meet those needs, and take all
reasonable care to ensure any screening process is
transparent and national security-focused;
(2) encourage governments of countries receiving technical
assistance to establish or improve the regulatory and
legislative frameworks to screen foreign investment as
described in subsection (b) to meet the security identified
pursuant to paragraph (1); and
(3) prioritize the conduct of diplomatic engagement with
government officials, including legislators, from countries
whose cooperation in foreign investment screening is deemed
by the Secretary to be critical to the interests of the
United States.
(d) Authorization of Appropriations.--There is authorized
to be appropriated to the Department of State for fiscal year
2025 $10,000,000 to carry out this section, which may be
administered either by the Department of State or the United
States Agency for International Development.
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