Sec. 141. Assistance to advance foreign investment screening of United States allies and partners to protect national interests
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The Secretary of State, in consultation with the Secretary of the Treasury and, as appropriate, the heads of other Federal departments and agencies as the President determines appropriate, shall offer to provide technical assistance to the governments of countries that are allies and partners of the United States in establishing or improving legislative and regulatory frameworks to screen foreign investment for national security risks that are, to the extent possible, similar to the frameworks set forth in section 721 of the Defense Production Act of 1950 ( 50 U.S.C. 4565 ).
In carrying out subsection (a), the Secretary of State, in consultation with the Secretary of the Treasury and, as appropriate, the heads of other Federal departments and agencies, shall actively encourage the government of each country that is an ally or partner of the United States— to establish transparent protocols for screening foreign investment that protect the national security interests of such country; and to make decisions on the basis of the potential national security risk of such investments.
In providing the technical assistance described in subsection (b), the Secretary of State shall— consult closely with the intended recipient of such assistance to reach a mutual understanding regarding the scope and nature of the country’s particular national security needs with respect to investment screening and the appropriate response to meet those needs, and take all reasonable care to ensure any screening process is transparent and national security-focused; encourage governments of countries receiving technical assistance to establish or improve the regulatory and legislative frameworks to screen foreign investment as described in subsection
(b)to meet the security identified pursuant to paragraph (1); and prioritize the conduct of diplomatic engagement with government officials, including legislators, from countries whose cooperation in foreign investment screening is deemed by the Secretary to be critical to the interests of the United States. There is authorized to be appropriated to the Department of State for fiscal year 2025 $10,000,000 to carry out this section, which may be administered either by the Department of State or the United States Agency for International Development.
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Sec. 141
Assistance to advance foreign investment screening of United States allies and partners to protect national interests
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