PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman .
Congressional Research Service
Version 00 · Introduced in Senate · Jun 21, 2006
Foreign Investment and National Security Act of 2006 - Amends the Defense Production Act to revise provisions concerning presidential authority to review any mergers, acquisitions, or takeovers (transactions) that could result in foreign control of persons engaged in interstate commerce in the United States. Codifies the Committee on Foreign Investment in the United States (CFIUS) as a multi-agency committee, with the Secretary of the Treasury as the chairperson and the Secretary of Defense as the vice chairperson. Directs CFIUS to review any such transaction to determine its effect on national security, and to investigate whether the transaction could result in foreign control of any critical U.S. infrastructure with possible impairment to national security.
Requires CFIUS to provide assessments and classifications of foreign countries for use with its reviews and investigations. Authorizes the President, after a CFIUS review or investigation, to take appropriate action, including suspending or prohibiting a transaction.
Requires: (1) notification of certain members of Congress of a proposed or pending transaction that has come under review or investigation; and (2) an annual report from the Secretary of the Treasury to the congressional finance committees with respect to the preservation of the nation's defense production and critical infrastructure.
People & committees
Sen. Shelby, Richard C. [R-AL] · R–AL
Legislative record
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Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman .
Referred to the Committee on Financial Services, and in addition to the Committees on International Relations, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on International Relations, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on International Relations, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on International Relations, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Message on Senate action sent to the House.
Received in the House.
Passed Senate with an amendment by Unanimous Consent. (text: CR S8318-8321)
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S8318-8321)
Measure laid before Senate by unanimous consent. (consideration: CR S8317-8321)
Placed on Senate Legislative Calendar under General Orders. Calendar No. 474.
Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Shelby. With written report No. 109-264.
Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Shelby. With written report No. 109-264.
Introduced in Senate
Committee on Banking, Housing, and Urban Affairs ordered to be reported an original measure.
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Mar 9, 2026. Consult Congress.gov for the current record.
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