US HB7675

Secretary of State must establish the Initiative on Foreign Investment Screening within 180 days of enactment, with the program terminating after 3 years

Under Secretary for Economic Growth, Energy, and the Environment will lead the initiative to provide technical assistance, training, and advisory services to foreign countries on screening foreign investments for national security risks

Initiative activities include facilitating coordination among U.S. agencies, private sector, and partner countries; supporting development of investment screening mechanisms; and conducting capacity-building efforts on investment security risks

Annual reports to the House Foreign Affairs Committee and Senate Foreign Relations Committee required for 3 years, covering technical assistance provided, partner country progress, emerging security risks, and recommendations

Partner countries eligible for assistance include those with U.S. free trade agreements, mutual defense treaties, or other countries designated by the Secretary of State