Sec. 506. Review regarding information collection and analysis with respect to economic competition

287 words·~1 min read·/bill/118/s/2103/rs/section-506

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Not later than 30 days after the date of the enactment of this Act, the Director of National Intelligence shall complete a review of the requirements and access to commercial information used by elements of the intelligence community for analysis of capital flows, investment security, beneficial ownership of entities, and other transactions and functions related to identifying threats, gaps, and opportunities with respect to economic competition with foreign countries, including the People’s Republic of China. The review required by paragraph

(1)shall include the following: The length and expiration of licenses for access to commercial information. The number of such licenses permitted for each element of the intelligence community. The number of such licenses permitted for Federal departments and agencies that are not elements of the intelligence community, including the Department of Commerce. Not later than 60 days after the date on which the review required by subsection (a)(1) is completed, the Director of National Intelligence shall submit a report and provide a briefing to Congress on the findings of the review. The report and briefing required by paragraph

(1)shall include the following: The findings of the review required by subsection (a)(1). Recommendations of the Director on whether and how the standardization of access to commercial information, the expansion of licenses for such access, the lengthening of license terms beyond 1 year, and the issuance of Government-wide (as opposed to agency-by-agency) licenses would advance the open-source collection and analytical requirements of the intelligence community with respect to economic competition with foreign countries, including the People's Republic of China. An assessment of cost savings or increases that may result from the standardization described in subparagraph (B). The report and briefing required by paragraph

(1)may be classified.