Sec. 1723. FUNDING
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## SEC. 1723 FUNDING Section 721 of the Defense Production Act of 1950 (50 U.S.C. 4565), as amended by section 1721, is further amended by adding at the end the following: > > ### “(p) Funding > > > #### “(1) Establishment of fund > > There is established in the Treasury of the United States a fund, to be known as the ‘Committee on Foreign Investment in the United States Fund’ (in this subsection referred to as the ‘Fund’), to be administered by the chairperson. > > > #### “(2) Authorization of appropriations for the committee > > There are authorized to be appropriated to the Fund for each of fiscal years 2019 through 2023 $20,000,000 to perform the functions of the Committee. > > > #### “(3) Filing fees > > > ##### “(A) In general > > The Committee may assess and collect a fee in an amount determined by the Committee in regulations, to the extent provided in advance in appropriations Acts, without regard to section 9701 of title 31, United States Code, and subject to subparagraph (B), with respect to each covered transaction for which a written notice is submitted to the Committee under subsection (b)(1)(C)(i).
The total amount of fees collected under this paragraph may not exceed the costs of administering this section. > > > ##### “(B) Determination of amount of fee > > > ###### “(i) In general > > The amount of the fee to be assessed under subparagraph
(A)with respect to a covered transaction— > > > ###### “(I) > > may not exceed an amount equal to the lesser of— > > > ###### “(aa) > > 1 percent of the value of the transaction; or > > > ###### “(bb) > > $300,000, adjusted annually for inflation pursuant to regulations prescribed by the Committee; and > > > ###### “(II) > > shall be based on the value of the transaction, taking into account— > > > ###### “(aa) > > the effect of the fee on small business concerns (as defined in section 3 of the Small Business Act (15 U.S.C. 632)); > > > ###### “(bb) > > the expenses of the Committee associated with conducting activities under this section; > > > ###### “(cc) > > the effect of the fee on foreign investment; and > > > ###### “(dd) > > such other matters as the Committee considers appropriate. > > > ###### “(ii) Updates > > The Committee shall periodically reconsider and adjust the amount of the fee to be assessed under subparagraph
(A)with respect to a covered transaction to ensure that the amount of the fee does not exceed the costs of administering this section and otherwise remains appropriate. > > > ##### “(C) Deposit and availability of fees > > Notwithstanding section 3302 of title 31, United States Code, fees collected under subparagraph
(A)shall— > > > ###### “(i) > > be deposited into the Fund solely for use in carrying out activities under this section; > > > ###### “(ii) > > to the extent and in the amounts provided in advance in appropriations Acts, be available to the chairperson; > > > ###### “(iii) > > remain available until expended; and > > > ###### “(iv) > > be in addition to any appropriations made available to the members of the Committee. > > > ##### “(D) Study on prioritization fee > > > ###### “(i) In general > > Not later than 270 days after the date of the enactment of the Foreign Investment Risk Review Modernization Act of 2018, the chairperson, in consultation with the Committee, shall complete a study of the feasibility and merits of establishing a fee or fee scale to prioritize the timing of the response of the Committee to a draft or formal written notice during the period before the Committee accepts the formal written notice under subsection (b)(1)(C)(i), in the event that the Committee is unable to respond during the time required by subclause
(II)of that subsection because of an unusually large influx of notices, or for other reasons. > > > ###### “(ii) Submission to congress > > After completing the study required by clause (i), the chairperson, or a designee of the chairperson, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the findings of the study. > > > #### “(4) Transfer of funds > > To the extent provided in advance in appropriations Acts, the chairperson may transfer any amounts in the Fund to any other department or agency represented on the Committee for the purpose of addressing emerging needs in carrying out activities under this section. Amounts so transferred shall be in addition to any other amounts available to that department or agency for that purpose.” > .
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