IL HR0603

Urges Congress and the President to expand the Committee on Foreign Investment in the United States (CFIUS) jurisdiction to review proposed land purchases and incentives given to foreign-based companies

Calls for CFIUS to ensure that state and federal funds, as well as public and private lands, are not awarded or sold to companies posing national security risks

Notes that the Inflation Reduction Act of 2022 provides $369 billion for clean energy manufacturing including wind turbines, solar panels, batteries, and electric vehicles

References Illinois state laws including the Reimagining Electric Vehicles Act (REV) and Invest in Illinois Act targeting clean energy manufacturing investments

Points out that recent land acquisitions by foreign-based renewable energy manufacturers have escaped CFIUS review due to current jurisdictional limitations