,,ii #aaeth ,,congress #ast ,session ,s4 #agbb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,august #b1 #bjag ,mr4 ,sullivan introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to require the ,committee on ,foreign ,investment in the ,united ,states to consider the reciprocity of foreign investment1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,true ,reciprocity ,investment ,act of #bjag4 #b4 ,consideration of reciprocity of foreign investment ,section #gba of the ,defense ,production ,act of #aiej 7#ej ,u4,s4,c4 #defe7 is amended by adding at the end the following3 7o7 ,consideration of reciprocity of foreign investment 7#a7 ,report required ,not later than #cj days after the date of the enactment of the ,true ,reciprocity ,investment ,act of #bjag1 and annually thereafter1 the ,united ,states ,trade ,representative shall1 in consultation with the ,secretary of ,commerce and the ,secretary of the ,treasury1 submit to the appropriate congressional committees a report assessing the extent to which the governments of foreign countries allow investments by ,united ,states persons in those countries that are similar to investments in the ,united ,states made by entities organized under the laws of those countries4 7#b7 ,elements ,the report required by paragraph 7#a7 shall include1 with respect to each country that is a major trading partner of the ,united ,states1 the following3 7,a7 ,a description of the laws1 policies1 and practices of the country with respect to foreign investment4 7,b7 ,a comparison of such laws1 policies1 and practices with the laws1 policies1 and practices of the ,united ,states with respect to foreign investment4 7,c7 ,an assessment of laws1 policies1 and practices by the government of the country that prohibit1 restrict1 or delay investment in the country by ,united ,states persons4 7,d7 ,an identification of which such laws1 policies1 and practices have had the most significant effect on investment in that country by ,united ,states persons4 7,e7 ,an identification of the industries in the ,united ,states that have been most severely affected by such laws1 policies1 and practices4 7,f7 ,an assessment of the transparency of the process for making such laws1 policies1 and practices4 7,g7 ,if a bilateral investment treaty is in effect between the ,united ,states and the country1 an assessment of the extent to which the government of the country has complied with its obligations under the treaty4 7,h7 ,recommendations with respect to what remedies may be available to facilitate investment in the country by ,united ,states persons4 7,i7 ,an assessment of the amount of greenfield investment in the ,united ,states by persons organized under the laws of or otherwise subject to the jurisdiction of the country4 7#c7 ,determinations ,the report required by paragraph 7#a7 shall include the determination of the ,trade ,representative1 after consideration of the elements described in paragraph 7#b71 of whether each country that is a major trading partner of the ,united ,states-- 7,a7 has high barriers to investment by ,united ,states persons 7to be known as a high barrier country72 7,b7 has recently taken measures that constitute barriers to investment by ,united ,states persons or has indicated an intention to take such measures 7to be known as a watch country72 or 7,c7 has investment laws1 policies1 and practices that should be monitored 7to be known as a monitor country74 7#d7 ,justification for transactions with high barrier countries 7,a7 ,in general ,if the ,committee recommends that the ,president not suspend or prohibit under subsection 7d7 a covered transaction described in subparagraph 7,b71 the ,committee shall include in the report required by paragraph 7#a7 an explanation of the reasons for recommending that the ,president not suspend or prohibit that transaction4 7,b7 ,covered transaction described ,a covered transaction is described in this subparagraph if a party to the transaction is organized under the laws of or otherwise subject to the jurisdiction of a high barrier country4 7#e7 ,definitions ,in this subsection3 7,a7 ,appropriate congressional committees ,the term appropriate congressional committees means-- 7i7 the ,committee on ,banking1 ,housing1 and ,urban ,affairs1 the ,committee on ,finance1 the ,committee on ,foreign ,relations1 and the ,committee on ,commerce1 ,science1 and ,transportation of the ,senate2 and 7ii7 the ,committee on ,financial ,service1 the ,committee on ,ways and ,means1 the ,committee on ,foreign ,affairs1 and the ,committee on ,energy and ,commerce of the ,house of ,representatives4 7,b7 ,greenfield investment ,the term greenfield investment means an investment by a foreign person in the ,united ,states under which the foreign person builds operations and facilities in the ,united ,states instead of purchasing or leasing existing facilities4 7,c7 ,united ,states person ,the term ,united ,states person means-- 7i7 a ,united ,states citizen or an alien lawfully admitted for permanent residence to the ,united ,states2 or 7ii7 an entity organized under the laws of the ,united ,states or of any jurisdiction within the ,united ,states1 including a foreign branch of such an entity4 4 #c4 ,consideration of report on reciprocity ,section #gba7;f7 of the ,defense ,production ,act of #aiej 7#ej ,u4,s4,c4 #defe7;f77 is amended-- 7#a7 in paragraph 7#d7-- 7,a7 in subparagraph 7,a71 by redesignating clauses 7i71 7ii71 and 7iii7 as subclauses 7,i71 7,,ii71 and 7,,iii71 respectively1 and by moving such subclauses1 as so redesignated1 #b ems to the right2 and 7,b7 by redesignating subparagraphs 7,a71 7,b71 and 7,c7 as clauses 7i71 7ii71 and 7iii71 respectively1 and by moving such clauses1 as so redesignated1 #b ems to the right2 7#b7 in paragraph 7#i71 by redesignating subparagraphs 7,a71 7,b71 and 7,c7 as clauses 7i71 7ii71 and 7iii71 respectively1 and by moving such clauses1 as so redesignated1 #b ems to the right2 7#c7 by redesignating paragraphs 7#a7 through 7#aa7 as subparagraphs 7,a7 through 7,k71 respectively1 and by moving such subparagraphs1 as so redesignated1 #b ems to the right2 7#d7 in the matter preceding subparagraph 7,a71 as redesignated by paragraph 7#c71 by striking may1 taking into account the requirements of national security1 consider-- and inserting the following3 81 taking into account the requirements of national security-- 7#a7 may consider-- 2 7#e7 in subparagraph 7,k71 as redesignated by paragraph 7#c71 by striking the period at the end and inserting 2 and2 and 7#f7 by adding at the end the following3 7#b7 shall consider the findings in the most recent report required by subsection 7o7 with respect to any foreign country with jurisdiction over a party to the proposed or pending transaction4 4