Sec. 433. Assessment of threat posed by citizenship-by-investment programs
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In this section: The term appropriate committees of Congress means— the Committee on Homeland Security and Governmental Affairs, the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, the Select Committee on Intelligence, and the Committee on the Judiciary of the Senate; and the Committee on Homeland Security, the Committee on Foreign Affairs, the Committee on Financial Services, the Permanent Select Committee on Intelligence, and the Committee on the Judiciary of the House of Representatives.
The term Assistant Secretary means the Assistant Secretary for Intelligence and Analysis of the Department of the Treasury. The term citizenship-by-investment program means an immigration, investment, or other program of a foreign country that, in exchange for a covered contribution, authorizes the individual making the covered contribution to acquire citizenship in such country, including temporary or permanent residence that may serve as the basis for subsequent naturalization.
The term covered contribution means— an investment in, or a monetary donation or any other form of direct or indirect capital transfer to, including through the purchase or rental of real estate— the government of a foreign country; or any person, business, or entity in such a foreign country; and a donation to, or endowment of, any activity contributing to the public good in such a foreign country. The term Director means the Director of National Intelligence. Not later than 1 year after the date of the enactment of this Act, the Director and the Assistant Secretary, in coordination with the heads of the other elements of the intelligence community and the head of any appropriate Federal agency, shall complete an assessment of the threat posed to the United States by citizenship-by-investment programs.
The assessment required by paragraph
(1)shall include the following: An identification of each citizenship-by-investment program, including an identification of the foreign country that operates each such program. With respect to each citizenship-by-investment program identified under subparagraph (A)— a description of the types of investments required under the program; and an identification of the sectors to which an individual may make a covered contribution under the program. An assessment of the threats posed to the national security of the United States by malign actors that use citizenship-by-investment programs— to evade sanctions or taxes; to facilitate or finance— crimes relating to national security, including terrorism, weapons trafficking or proliferation, cybercrime, drug trafficking, human trafficking, and espionage; or any other activity that furthers the interests of a foreign adversary or undermines the integrity of the immigration laws or security of the United States; or to undermine the United States and its interests through any other means identified by the Director and the Assistant Secretary. An identification of the foreign countries the citizenship-by-investment programs of which pose the greatest threat to the national security of the United States. Not later than 180 days after completing the assessment required by paragraph (1), the Director and the Assistant Secretary shall jointly submit to the appropriate committees of Congress a report on the findings of the Director and the Assistant Secretary with respect to the assessment. The report required by clause
(i)shall include the following: A detailed description of the threats posed to the national security of the United States by citizenship-by-investment programs. Recommendations for additional resources or authorities necessary to counter such threats. A description of opportunities to counter such threats. The report required by clause
(i)shall be submitted in unclassified form but may include a classified annex, as appropriate. Not later than 90 days after the date on which the report required by subparagraph
(A)is submitted, the Director and Assistant Secretary shall provide the appropriate committees of Congress with a briefing on the report.