Last week, a bipartisan group of U.S. Senators introduced legislation that would address the “ongoing threat” posed by technology from foreign adversaries. The legislation would impact how the U.S. addresses technology risks, but experts warn it could yield jurisdictional conflict with CFIUS.
U.S. House China committee chair proposes “punitive” divestment bill
Rep. Mike Gallagher (R-Wisc.), who was just selected to chair the House Select Committee on China, has proposed a bill that would force non-profits, university endowments, public pension plans, and other tax-exempt entities to divest from Chinese companies or lose their tax-exempt status.
Outbound screening is nixed from latest legislation. So what’s next?
A national security screening mechanism for outbound investments was conspicuously absent from the $280 billion semiconductor bill passed by Congress last week. But the bill did include several outbound “guardrails,” and experts say the doors to an “outbound CFIUS” are still wide open.
Proposed bill would set DHS point person on CFIUS, Team Telecom
A bill proposed to strengthen U.S. supply chains and domestic production capacity would formally have the Assistant Secretary for Trade and Economic Security at the Department of Homeland Security serve as the “point person” on CFIUS and Team Telecom. Details inside.
Congressional leaders look to ban Chinese purchases of U.S. land
Several U.S. Congressmen have floated a bill that would prohibit foreign nationals from purchasing land in the U.S. While acknowledging CFIUS has jurisdiction over certain real estate deals, they say “more action is needed” to make the rules more strict. Details and context are inside.
Should states have mechanism for channeling concerns to CFIUS?
A well-respected law school professor has published an essay that explores the overlap of state laws and CFIUS. The essay explores whether state and local officials should have a mechanism for channeling concerns and local knowledge into the CFIUS process. Details inside.
Sen. Rubio wants new SEC filings for certain foreign ownership deals
Senator Marco Rubio (R-Fla.) has proposed a bill focused on countering Chinese influence in the space industry. But experts say a beneficial-ownership disclosure requirement included in the legislation could have impact far beyond just that sector. Details, context, and the bill are inside.
Congressional agency wants new approach to emerging technologies
The U.S.-China Economic and Security Review Commission has published its 2021 report to Congress, and the 44-page document includes recommendations that would impact FIRRMA, CFIUS, export controls, and more. Details and the complete USCC report are inside.
Bill would expand CFIUS authority if sensitive personal data involved
Two U.S. Senators have floated a bill that would expand CFIUS oversight of transactions involving sensitive personal data, from geolocation information to genetic test results. Might sound familiar if you’ve heard of “TID” businesses. Details, context, and overlap with TID is inside.
M&A disclosure bill coming for foreign state-owned entities?
A Republican Congressman from Wisconsin is preparing legislation that would create a new disclosure requirement for companies that are subsidized by foreign governments. The bill would impact those entities when pursuing large mergers. Details inside.
Congressmen want U.S. Secretary of Agriculture on CFIUS (again)
For the second, no, third time, Congressional leaders have introduced legislation that would put the Secretary of Agriculture on CFIUS. Inside is an update on the legislation, the actual bill, the prior attempts, and insights on why it matters (or not).
Legislative roundup: Three bills related to CFIUS, FDI proposed
Fresh on the heels of a bill that would boost CFIUS authority in higher education, three new pieces of legislation were floated that would impact the Commission and FDI matters. Details on the bills — focused on the U.S. supply chain, personal data, and more — are inside.
Why academic institutions oppose CFIUS review of gifts, contracts
The presidents of four major higher-education organizations have delivered a letter to the U.S. Senators who proposed having CFIUS review foreign gifts and contracts to colleges and universities. Details, their objections, the proposed legislation, and more are inside.
CFIUS authority would be boosted under Senate Foreign Relations bill
The U.S. Senate Foreign Relations Committee has drafted bipartisan legislation aimed at countering the global influence of China. Among other provisions, the draft measure would expand the scope of CFIUS. Details, the full draft, contacts, and more are inside.
Another day, another CFIUS bill: Senators would expand authority
Three U.S. Senators have proposed legislation that would give the chair of CFIUS greater power in defining emerging and foundational technologies. The bill is the latest in a series aimed at expanding CFIUS authority. Details, excerpts, the complete bill, contacts, related proposals, and more are inside.
Senators continue push to add Agricultural Secretary to CFIUS
Following up on a House bill introduced last month, two U.S. Senators have introduced legislation that would formally place the Secretary of the Department of Agriculture as a member of CFIUS. Details, the full bill, the companion House bill, and recent historical context is inside.