S. 3549: Foreign Investment and National Security Act of 2006

109th Congress · introduced 2006-06-21 · Foreign Trade and International Finance · Latest: Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman .

federal

Follow this bill, step by step

Where it came from: introduced 2006-06-21 · official record
Who proposed it: Sen. Shelby, Richard C. [R-AL] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman . Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Foreign Investment and National Security Act of 2006

Plain summary

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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

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What does this mean? (plain words)

Official text

Foreign Investment and National Security Act of 2006

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Shelby, Richard C. [R-AL] · 0 cosponsors

Cost estimate: CBO cost estimate: S. 3549, Foreign Investment and National Security Act of 2006 (2006-05-03); CBO cost estimate: S. 3549, Foreign Investment and National Security Act of 2006 (2006-05-03)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-109s3549.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/109/s>

Record fed-us-cong109-s3549 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109