Sec. 602. Regulatory certainty for United States businesses
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Section 721 of the Defense Production Act of 1950 ( 50 U.S.C. 4565 ), as amended by section 502, is further amended by adding at the end the following: With respect to mitigating a national security risk that results from a foreign person’s investment in, or joint venture with, a United States business, a member agency of the Committee may not prescribe or implement regulations to require divestment by, or of, the United States business, unless— the regulations are prescribed under this section or pursuant to authorities of the President under the International Emergency Economic Powers Act; or the President reports to Congress in writing that the regulations— are, wherever applicable, consistent with regulations prescribed under this section, including any such regulations pertaining to— foreign control or influence over a United States business; the identification of emerging, foundational, or other critical technologies; and confidentiality requirements with respect to information and documentary material regarding United States businesses; and in the case of regulations prescribed or finalized following the effective date of this subsection, were prescribed in consultation with the chairperson of the Committee and with the head of any member agency determined by the President to be affected by the regulations. .
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Sec. 602
Regulatory certainty for United States businesses
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