S. 2442 (109th): Safe Foreign Investments Act of 2006

Introduced:
Mar 16, 2006 (109th Congress, 2005–2006)
Sponsor:
Sen. Richard Durbin [D-IL]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on March 16, 2006, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 16, 2006
Referred to Committee Mar 16, 2006
Cosponsors
none
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to require the President or the Committee on Foreign Investment in the United States to submit to Congress draft investigation reports on national security related investigations, to address mandatory investigations by such committee, and for other purposes.

Summary

No summaries available.

Text

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Last updated Mar 16, 2006.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/16/2006--Introduced.
Safe Foreign Investments Act of 2006 - Amends the Defense Production Act of 1950 to direct the President or his designee, no later than seven days before the completion of an investigation of a proposed or pending merger, acquisition, or takeover (transaction) that could affect persons engaged in commerce in the United States or the national security, and before any such determination becomes effective, to submit to the congressional homeland security committees a draft report of its findings.
Requires mandatory investigations of a transaction involving an entity controlled by or acting on behalf of a foreign person other than a foreign government only in the case in which the transaction involves critical infrastructure and could affect U.S. national security.
States that the President's designee, for purposes of such investigations, shall be the Committee on Foreign Investment in the United States (CFIUS).

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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