Foreign Investment and National Security Act of 2007
Latest action · Jul 26, 2007 Became Public Law No: 110-49.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 18, 2007
- Passed HouseFeb 28, 2007
- Passed SenateJun 29, 2007
- To the PresidentJul 18, 2007
- Became lawJul 26, 2007Public Law 110-49
Summary
(This measure has not been amended since it was passed by the Senate on June 29, 2007. The summary of that version is repeated here.)
Foreign Investment and National Security Act of 2007 - (Sec. 2) Amends the Defense Production Act of 1950 to revise provisions concerning presidential authority to review certain mergers, acquisitions, and takeovers to direct the President, acting through the Committee on Foreign Investment in the United States (CFIUS), and upon receiving written notification from any parties to a possible merger, acquisition or takeover proposed or pending after August 23, 1988, which could result in foreign control of any person engaged in interstate commerce (covered transaction), to review such covered transaction to determine its effects on national security. Requires CFIUS to investigate a covered transaction which it determines is a foreign government-controlled transaction. Permits any party to a covered transaction to initiate a review by submitting a written notice of the transaction to CFIUS. Authorizes the President or CFIUS to initiate a review of: (1) any covered transaction; (2) any covered transaction that has been previously reviewed or investigated, if any party submitted false or misleading material information; or (3) any covered transaction that has been previously reviewed or investigated, if any party intentionally materially breaches a mitigation agreement or condition imposed on the transaction.
Requires CFIUS to immediately conduct an investigation of the effects of certain covered transactions on national security and to take necessary actions to protect the national security, if a review results in a determination that: (1) the transaction threatens to impair national security and that threat has not been mitigated, or the transaction is a foreign government-controlled transaction; (2) the transaction would result in control of any U.S. critical infrastructure by a foreign person, if CFIUS determines that the transaction could impair national security and that impairment has not been properly mitigated; or (3) the lead agency for each covered transaction recommends, and CFIUS concurs, that an investigation be undertaken. Requires such investigations to be completed within 45 days. Provides that an investigation of a foreign government-controlled transaction or one involving a critical infrastructure will not be required if the Secretary of the Treasury and the head of the lead agency jointly determine that the transaction will not impair national security.
Requires the chairperson of CFIUS: (1) to publish in the Federal Register guidance on the types of transactions that CFIUS has reviewed and that have presented national security considerations; and (2) and head of the lead agency to transmit to specified Members of Congress a certified notice and written report concerning each investigation of a covered transaction.
Requires the Director of National Intelligence to conduct an analysis of any threat to national security posed by a covered transaction.
(Sec. 3) Establishes: (1) CFIUS as a multi-agency statutory committee and revises its membership; and (2) an additional Assistant Secretary of the Treasury to perform CFIUS-related duties. Requires the Secretary to designate a CFIUS member(s) to act as the lead agency or agencies with respect to a covered transaction.
(Sec. 4) Adds several factors to be considered by the President in evaluating a covered transaction, including whether the proposed transaction: (1) has national security-related effects on U.S. critical technologies; and (2) is a foreign government-controlled transaction.
(Sec. 5) Authorizes CFIUS or a lead agency to enter into agreements with parties to a covered transaction to mitigate any threat to national security. Requires the lead agency to negotiate, modify, monitor, and enforce such agreements. Requires designated agencies to provide periodic reports to CFIUS on the implementation of any agreements or conditions.
(Sec. 6) Authorizes the President to suspend or prohibit any covered transaction that threatens to impair national security. (Current law authorizes the President to suspend or prohibit a transaction by or with foreign persons so that their control will not threaten to impair national security.) Requires (under current law, authorizes) the President to consider specified factors (including those added in this Act) when determining whether to suspend or prohibit a covered transaction.
(Sec. 7) Requires: (1) upon request, CFIUS to brief certain Members of Congress of covered transactions for which action has concluded; and (2) CFIUS annual reports to Congress after completed investigations. Requires specific report information with respect to possible foreign acquisition of U.S. companies involved in the research, development, or production of critical technologies, as well as possible industrial espionage activities.
Requires the Secretary to: (1) annually study foreign direct investments in the United States, especially investments in critical infrastructure and industries affecting national security by foreign governments (or their agents) which comply with any boycott of Israel or do not ban terrorist organizations; and (2) report each study's results to Congress. Directs the Inspector General of the Treasury to: (1) conduct an investigation of each failure of the Department of the Treasury to make any report required by CFIUS; and (2) report to the appropriate congressional committees on investigation results.
(Sec. 8) Requires the certification of information submitted by a party to a covered transaction.
Recorded votes 6
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 614 | On Motion to Suspend the Rules and Agree to the Senate Amendment | Passed370–45 | Jul 11, 2007 |
| House 110 | On Passage | Passed423–0 | Feb 28, 2007 |
| House 109 | On Motion to Recommit with Instructions | Failed193–229 | Feb 28, 2007 |
| House 108 | On Agreeing to the Amendment | Failed197–231 | Feb 28, 2007 |
| House 107 | On Agreeing to the Amendment | Failed197–231 | Feb 28, 2007 |
Cosponsors 58
Members who signed on, in the order they did. Signatures ran from Jan 18, 2007 to Feb 16, 2007; 36 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-TX | Al Green | Original | Jan 18, 2007 |
| D-MA | Barney Frank | Original | Jan 18, 2007 |
| D-OR | Darlene Hooley | Original | Jan 18, 2007 |
| R-WA | David G. Reichert | Original | Jan 18, 2007 |
| D-GA | David Scott | Original | Jan 18, 2007 |
| R-OH | Deborah Pryce | Original | Jan 18, 2007 |
| D-KS | Dennis Moore | Original | Jan 18, 2007 |
| D-CA | Diane E. Watson | Original | Jan 18, 2007 |
| R-IL | Donald A. Manzullo | Original | Jan 18, 2007 |
| D-MD | Elijah E. Cummings | Original | Jan 18, 2007 |
| D-MO | Emanuel Cleaver | Original | Jan 18, 2007 |
| R-CA | Gary G. Miller | Original | Jan 18, 2007 |
| D-NY | Gary L. Ackerman | Original | Jan 18, 2007 |
| D-NY | Gregory W. Meeks | Original | Jan 18, 2007 |
| D-WI | Gwen Moore | Original | Jan 18, 2007 |
| R-FL | Ileana Ros-Lehtinen | Original | Jan 18, 2007 |
| D-RI | James R. Langevin | Original | Jan 18, 2007 |
| D-NY | Joseph Crowley | Original | Jan 18, 2007 |
| R-IL | Judy Biggert | Original | Jan 18, 2007 |
| R-TX | Lamar Smith | Original | Jan 18, 2007 |
| D-IL | Luis V. Gutierrez | Original | Jan 18, 2007 |
| D-IL | Melissa L. Bean | Original | Jan 18, 2007 |
| R-OH | Paul E. Gillmor | Original | Jan 18, 2007 |
| R-NY | Peter T. King | Original | Jan 18, 2007 |
| R-LA | Richard H. Baker | Original | Jan 18, 2007 |
| D-FL | Ron Klein | Original | Jan 18, 2007 |
| R-TX | Ron Paul | Original | Jan 18, 2007 |
| R-MO | Roy Blunt | Original | Jan 18, 2007 |
| D-TX | Ruben Hinojosa | Original | Jan 18, 2007 |
| R-NJ | Scott Garrett | Original | Jan 18, 2007 |
| R-AL | Spencer Bachus | Original | Jan 18, 2007 |
| D-MA | Stephen F. Lynch | Original | Jan 18, 2007 |
| R-NC | Sue Wilkins Myrick | Original | Jan 18, 2007 |
| R-MI | Thaddeus G. McCotter | Original | Jan 18, 2007 |
| R-NY | Thomas M. Reynolds | Original | Jan 18, 2007 |
| R-NY | Vito Fossella | Original | Jan 18, 2007 |
| R-MI | Peter Hoekstra | Jan 19, 2007 | |
| D-MS | Bennie G. Thompson | Jan 29, 2007 | |
| D-NY | Carolyn McCarthy | Jan 29, 2007 | |
| D-UT | Jim Matheson | Jan 29, 2007 | |
| D-CA | Jane Harman | Jan 31, 2007 | |
| R-TX | Joe Barton | Jan 31, 2007 | |
| D-NC | Melvin L. Watt | Jan 31, 2007 | |
| D-NY | Steve Israel | Jan 31, 2007 | |
| D-MO | Wm. Lacy Clay | Jan 31, 2007 | |
| R-CT | Christopher Shays | Feb 5, 2007 | |
| R-FL | Ginny Brown-Waite | Feb 5, 2007 | |
| D-NC | Brad Miller | Feb 6, 2007 | |
| R-OH | Steven C. LaTourette | Feb 6, 2007 | |
| R-FL | Vern Buchanan | Feb 6, 2007 | |
| D-WA | Adam Smith | Feb 8, 2007 | |
| R-WA | Doc Hastings | Feb 8, 2007 | |
| D-WA | Norman D. Dicks | Feb 8, 2007 | |
| R-PA | Phil English | Feb 8, 2007 | |
| R-WV | Shelley Moore Capito | Feb 12, 2007 | |
| D-CT | Joe Courtney | Feb 13, 2007 | |
| D-NJ | Bill Pascrell, Jr. | Feb 16, 2007 | |
| R-WA | Cathy McMorris Rodgers | Feb 16, 2007 |
Committees 4
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jan 18, 2007Markup Feb 14, 2007Reported Feb 23, 2007 |
| House | Energy and Commerce Committee | Referred Jan 18, 2007Discharged Feb 23, 2007 |
| Commerce, Manufacturing, and Trade Subcommittee | Referred Feb 2, 2007 | |
| House | Foreign Affairs Committee | Referred Jan 18, 2007Discharged Feb 23, 2007 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Mar 1, 2007Discharged Jun 29, 2007 |
Actions 54
Everything that happened, newest first.
- Jul 26, 2007Signed by President.
- Jul 26, 2007Became Public Law No: 110-49.
- Jul 18, 2007Presented to President.
- Jul 11, 2007Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 370 - 45 (Roll no. 614). (consideration: CR H7558-7559; text as House agreed to Senate amendment: CR H7452-7455)
- Jul 11, 2007Motion to reconsider laid on the table Agreed to without objection.
In the Congressional Record 8
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S10894 | Mel Martinez R-FL | Aug 3, 2007 |
| Extensions | Debate and remarks E1538 | Joe Barton R-TX | Jul 17, 2007 |
| House · Extensions | Debate and remarks E1487Recorded votes H7558enact | Peter T. King R-NY | Jul 11, 2007 |
| House | Debate and remarks H7451–H7462Amendments H7452 | Barney Frank D-MA, Bennie G. Thompson D-MS, Bobby L. Rush D-IL, Carolyn B. Maloney D-NY, Christopher Shays R-CT, Deborah Pryce R-OH, Donald A. Manzullo R-IL, Duncan Hunter R-CA, Ike Skelton D-MO, John D. Dingell D-MI, Sheila Jackson Lee D-TX, Tom Lantos D-CA | Jul 10, 2007 |
| Senate | Debate and remarks S8755 | Harry Reid D-NV | Jun 29, 2007 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimates 2
- Feb 16, 2007H.R. 556, National Security Foreign Investment Reform and Strengthened Transparency Act of 2007<p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on February 13, 2007</p>
- Feb 16, 2007H.R. 556, National Security Foreign Investment Reform and Strengthened Transparency Act of 2007Cost estimate for the bill as ordered reported by the House Committee on Financial Services on February 13, 2007
Printed hearings 6
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 110-93 | THE PRESIDENT'S FISCAL YEAR 2009 BUDGET REQUEST FOR THE DEPARTMENT OF HOMELAND SECURITY77 pages | Homeland Security Committee | Feb 13, 2008 |
| Serial No. 110-36 | THE IMPACT OF FOREIGN OWNERSHIP AND FOREIGN INVESTMENT ON THE SECURITY OF OUR NATION'S CRITICAL INFRASTRUCTURE39 pages | Homeland Security Committee | May 16, 2007 |
| — | FINANCIAL SERVICES AND GENERAL GOVERNMENT APPROPRIATIONS FOR FISCAL YEAR 200844 pages | Appropriations Committee | Mar 28, 2007 |
| Serial No. 110-21 | FOREIGN OWNERSHIP:45 pages | Homeland Security Committee | Mar 23, 2007 |
| S. Hrg. 110-285 | FINANCIAL SERVICES AND GENERAL GOVERNMENT APPROPRIATIONS FOR FISCAL YEAR 2008393 pages | Appropriations Committee | Mar 9, 2007–May 16, 2007 |
CRS reports 14
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 14
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF12415 | CFIUS: Executive Branch Actions on Evolving National Security Risks and Enforcement | Resource | Sep 10, 2026 |
| IF10177 | Committee on Foreign Investment in the United States (CFIUS) | Resource | Aug 28, 2026 |
| R43767 | The Defense Production Act of 1950: History, Authorities, and Considerations for Congress | Report | Oct 6, 2023 |
| R45148 | U.S. Trade Policy Primer: Frequently Asked Questions | Report | Feb 4, 2021 |
| IF11334 | CFIUS: New Foreign Investment Review Regulations | Resource | May 28, 2020 |
Amendments 6
Amendments offered to this bill.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HRES 195 | Providing for the consideration of the bill (H.R. 556) to ensure national security while promoting foreign investment and the creation and maintenance of jobs, to reform the process by which such investments are examined for any effect they may have on national security, to establish the Committee on Foreign Investment in the United States, and for other purposes. | Procedurally related | Feb 28, 2007 |
| S 1610 | Foreign Investment and National Security Act of 2007 | Related document | Jun 29, 2007 |
Titles 6
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To ensure national security while promoting foreign investment and the creation and maintenance of jobs, to reform the process by which such investments are examined for any effect they may have on national security, to establish the Committee on Foreign Investment in the United States, and for other purposes.
- Short Titles as Introduced
- National Security Foreign Investment Reform and Strengthened Transparency Act of 2007
- Short Titles as Reported to House
- National Security Foreign Investment Reform and Strengthened Transparency Act of 2007
- Short Titles as Passed House
- National Security Foreign Investment Reform and Strengthened Transparency Act of 2007
- Short Titles as Passed Senate
- Foreign Investment and National Security Act of 2007
- Short Titles as Enacted
- Foreign Investment and National Security Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Foreign Trade and International Finance.
- Administrative procedure
- Administrative remedies
- Armed Forces and National Security
- Business intelligence
- Commerce
- Commercial blacklisting
- Congress
- Congress and foreign policy
- Congressional oversight
- Congressional reporting requirements
- Corporate mergers
- Crime and Law Enforcement
- Department of Homeland Security
- Executive Office of the President
- Executive reorganization
- Federal advisory bodies
- Foreign agents
- Foreign corporations
- Foreign investments
- Foreign Trade and International Finance
- Fraud
- Government corporations
- Government liability
- Government Operations and Politics
- Government ownership
- Government paperwork
- Government publicity
- Governmental investigations
- Industrial research
- Infrastructure
- Infrastructure (Economics)
- Inspectors general
- International Affairs
- Israel
- Law
- Leases
- Middle East and North Africa
- President and foreign policy
- Research and development
- Risk
- Science, Technology, Communications
- Technology transfer
- Terrorism
- Trade secrets
Text 6
Each version as it was printed, newest first.
- —Enrolled Bill
- Jul 3, 2007Engrossed Amendment Senate
- Mar 1, 2007Referred in Senate
- Feb 28, 2007Engrossed in House
- Feb 23, 2007Reported in House
- Jan 18, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
