Sec. 2. DEFINITIONS
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## SEC. 2 DEFINITIONS In this Act: ####
(1)Beneficial owner #####
(A)In general Except as provided in subparagraph (B), the term “**beneficial owner**” means, with respect to a covered entity, each natural person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise— ######
(i)exercises control over the covered entity; or ######
(ii)has a substantial interest in or receives substantial economic benefits from the assets of the covered entity. #####
(B)Exceptions The term “**beneficial owner**” does not include, with respect to a covered entity— ######
(i)a minor child; ######
(ii)a person acting as a nominee, intermediary, custodian, or agent on behalf of another person; ######
(iii)a person acting solely as an employee of the covered entity and whose control over or economic benefits from the covered entity derives solely from the employment status of the person; ######
(iv)a person whose only interest in the covered entity is through a right of inheritance, unless the person also meets the requirements of subparagraph (A); or ######
(v)a creditor of the covered entity, unless the creditor also meets the requirements of subparagraph (A). #####
(C)Anti-abuse rule The exceptions under subparagraph
(B)shall not apply if used for the purpose of evading, circumventing, or abusing the requirements of this Act. ####
(2)Control The term “**control**” means, with respect to a covered entity— #####
(A)having the authority or ability to determine how a covered entity is utilized; or #####
(B)having some decision-making power for the use of a covered entity. ####
(3)Covered entity The term “**covered entity**” means— #####
(A)a person, corporation, company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group; or #####
(B)any governmental entity or instrumentality of a government. ####
(4)Executive agency The term “**Executive agency**” has the meaning given the term in section 105 of title 5, United States Code. ####
(5)Federal agency The term “**Federal agency**” means any Executive agency or any establishment in the legislative or judicial branch of the Government. ####
(6)Federal lessee The term “**Federal lessee**”— #####
(A)means the Administrator of General Services, the Architect of the Capitol, or the head of any Federal agency, other than the Department of Defense, that has independent statutory leasing authority; and #####
(B)does not include the head of an element of the intelligence community. ####
(7)Federal tenant The term “**Federal tenant**”— #####
(A)means a Federal agency that is occupying or will occupy a high-security leased space for which a lease agreement has been secured on behalf of the Federal agency; and #####
(B)does not include an element of the intelligence community. ####
(8)Foreign entity The term “**foreign entity**” means a covered entity that is headquartered or incorporated in a country that is not the United States. ####
(9)Foreign person The term “**foreign person**” means an individual who is not a United States person. ####
(10)High-security leased space The term “**high-security leased space**” means a space leased by a Federal lessee that— #####
(A)will be occupied by Federal employees for nonmilitary activities; and #####
(B)has a facility security level of III, IV, or V, as determined by the Federal tenant in consultation with the Interagency Security Committee, the Department of Homeland Security, and the General Services Administration. ####
(11)Highest-level owner The term “**highest-level owner**” means the entity that owns or controls an immediate owner of the offeror of a lease, or that owns or controls 1 or more entities that control an immediate owner of the offeror. ####
(12)Immediate owner The term “**immediate owner**” means an entity, other than the offeror of a lease, that has direct control of the offeror, including ownership or interlocking management, identity of interests among family members, shared facilities and equipment, and the common use of employees. ####
(13)Intelligence community The term “**intelligence community**” has the meaning given the term in section 3 of the National Security Act of 1947 (50 U.S.C. 3003). ####
(14)Substantial economic benefits The term “**substantial economic benefits**” means, with respect to a natural person described in paragraph (1)(A)(ii), having an entitlement to the funds or assets of a covered entity that, as a practical matter, enables the person, directly or indirectly, to control, manage, or direct the covered entity. ####
(15)United states person The term “**United States person**” means an individual who— #####
(A)is a citizen of the United States; or #####
(B)is an alien lawfully admitted for permanent residence in the United States. ####
(16)Widely held The term “**widely held**” means a fund that has not less than 100 natural persons as direct or indirect investors.
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