Sec. 1837. NATIONAL SECURITY REVIEW OF INTERNATIONAL ENERGY REQUIREMENTS

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## SEC. 1837 NATIONAL SECURITY REVIEW OF INTERNATIONAL ENERGY REQUIREMENTS ###

(a)Study The Secretary, in consultation with the Secretary of Defense and Secretary of Homeland Security, shall conduct a study of the growing energy requirements of the People's Republic of China and the implications of such growth on the political, strategic, economic, or national security interests of the United States, including— ####

(1)an assessment of the type, nationality, and location of energy assets that have been sought for investment by entities located in the People's Republic of China; ####

(2)an assessment of the extent to which investment in energy assets by entities located in the People's Republic of China has been on market-based terms and free from subsidies from the People's Republic of China; ####

(3)an assessment of the effect of investment in energy assets by entities located in the People's Republic of China on the control by the United States of dual-use and export-controlled technologies, including the effect on current and future access to foreign and domestic sources of rare earth elements used to produce such technologies; ####

(4)an assessment of the relationship between the Government of the People's Republic of China and energy-related businesses located in the People's Republic of China; ####

(5)an assessment of the impact on the world energy market of the common practice of entities located in the People's Republic of China of removing the energy assets owned or controlled by such entities from the competitive market, with emphasis on the effect if such practice expands along with the growth in energy consumption of the People's Republic of China; ####

(6)an examination of the United States energy policy and foreign policy as it relates to ensuring a competitive global energy market; ####

(7)an examination of the relationship between the United States and the People's Republic of China as it relates to pursuing energy interests in a manner that avoids conflicts; and ####

(8)a comparison of the appropriate laws and regulations of other nations to determine whether a United States company would be permitted to purchase, acquire, merge, or otherwise establish a joint relationship with an entity whose primary place of business is in that other nation, including the laws and regulations of the People's Republic of China. ###

(b)Report and Recommendations Not later than 120 days after the date of the enactment of this Act, the Secretary, in consultation with the Secretary of Defense, shall report to the President and the Congress on the findings of the study described in subsection

(a)and any recommendations the Secretaries consider appropriate. ###

(c)Regulatory Effect Notwithstanding any other provision of law, any instrumentality of the United States vested with authority to review a transaction that includes an investment in a United States domestic corporation may not conclude a national security review related to an investment in the energy assets of a United States domestic corporation by an entity owned or controlled by the government of the People's Republic of China for 21 days after the report to the President and the Congress, and until the President certifies that he has received the report described in subsection (b).