Sec. 1709. TIMING FOR REVIEWS AND INVESTIGATIONS
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## SEC. 1709 TIMING FOR REVIEWS AND INVESTIGATIONS Section 721(b) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)), as amended by section 1708, is further amended— ####
(1)in paragraph (1)(F), by striking “30” and inserting “45”; ####
(2)in paragraph (2), by striking subparagraph
(C)and inserting the following: > > ##### “(C) Timing > > > ###### “(i) In general > > Except as provided in clause (ii), any investigation under subparagraph
(A)shall be completed before the end of the 45-day period beginning on the date on which the investigation commenced. > > > ###### “(ii) Extension for extraordinary circumstances > > > ###### “(I) In general > > In extraordinary circumstances (as defined by the Committee in regulations), the chairperson may, at the request of the head of the lead agency, extend an investigation under subparagraph
(A)for one 15-day period. > > > ###### “(II) Nondelegation > > The authority of the chairperson and the head of the lead agency referred to in subclause
(I)may not be delegated to any person other than the Deputy Secretary of the Treasury or the deputy head (or equivalent thereof) of the lead agency, as the case may be. > > > ###### “(III) Notification to parties > > If the Committee extends the deadline under subclause
(I)with respect to a covered transaction, the Committee shall notify the parties to the transaction of the extension.” > ; and ####
(3)by adding at the end the following: > > #### “(8) Tolling of deadlines during lapse in appropriations > > Any deadline or time limitation under this subsection shall be tolled during a lapse in appropriations.” > .
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Sec. 1709
TIMING FOR REVIEWS AND INVESTIGATIONS
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