,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #gjfd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #a1 #bjbj,mr4   
,banks 7= himself1 ,mr4 ,gallagh]1 &    
,mr4 ,la,malfa7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on        
,f9ancial ,s]vices1 & 9 addition to !   
,committee on ,=eign ,affairs1 = a p]iod
 to be subsequ5tly det]m9$ by ! ,speak]1
 9 ea* case = consid]ation ( su*        
provisions z fall )9 ! jurisdiction ( ! 
committee conc]n$  ,a ,,bill  ,to       
prohibit f9ancial inve/m5t by a ,unit$  
,/ates p]son 9 =eign indu/rial def5se   
corporations ) sub/antial contracts )1  
ties to1 or support f1 ! ,*9ese milit>y 
& affiliat$ entities1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,/op ,fund+ ! ,,pla ,act4  #b4        
,specification ( prohibit$ =eign        
indu/rial def5se corporations  7a7      
,specification requir$ ,n lat] ?an #ij  
days aft] ! date ( ! enactm5t ( ?is     
section1 & annually !reaft]1 !          
,secret>y1 9 consultation ) ! ,secret>y 

( ,/ate1 ! ,secret>y ( ,def5se1 & !     
dome/ic intellig5ce community1 %all     
submit to ! ,committee on ,bank+1 ,h\s+1
 & ,urban ,affairs ( ! ,s5ate & !       
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives a report t      
specifies ea* =eign indu/rial def5se    
corporation ) sub/antial contracts )1   
ties to1 or support f1 a ,,pla entity4  
7b7 ,effect ( specification  7#a7       
,pur*ase ( securities prohibit$ ,beg9n+ 
on ! date t is #ahj days aft] a report  
is submitt$ "u subsection 7a71 a ,unit$ 
,/ates p]son may n pur*ase securities ( 
a =eign indu/rial def5se corporation    
specifi$ 9 su* report4  7#b7 ,dive/m5t  
requir$  7,a7 ,9 g5]al ,except z provid$
 9 subp>agraph 7,b71 n lat] ?an #ahj    
days aft] a report is submitt$ "u       
subsection 7a71 a ,unit$ ,/ates p]son t 
owns a security ( a =eign indu/rial     
def5se corporation specifi$ 9 su* report
 %all dive/ !mselves ( su* security4    
7,b7 ,ext5d$ w9d-d[n 9 case ( f9ancial  
h>d%ip ,! ,secret>y may all[ a ,unit$   

,/ates p]son a #bgj-;day ext5sion to !  
#ahj-;day p]iod = compliance "u         
subp>agraph 7,a7 if ! ,secret>y det]m9es
 t su* entity-- 7i7 owns a security ( a 
=eign indu/rial def5se corporation      
specifi$ 9 a report submitt$ "u         
subsection 7a72 &  7ii7 w\ld exp]i5ce   
extreme f9ancial h>d%ip to comply )9 !  
#ahj-;day p]iod "u subp>agraph 7,a74    
7c7 ,assignm5t ( au?ority  7#a7         
,en=cem5t ,! ,secret>y %all en=ce !     
provisions ( ?is section4  7#b7         
,regulations ,n lat] ?an #ij days aft] !
 date ( ! enactm5t ( ?is section1 !     
,secret>y %all issue su* regulations &  
guidance z necess>y to implem5t & en=ce 
?is section4  7d7 ,report ,n lat] ?an   
#cfj days aft] ! date ( ! enactm5t ( ?is
 section1 ! ,secret>y %all submit to !  
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate & ! ,committee on   
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives a report on ! progress (
 ! dive/m5ts requir$ "u subsection      
7b77#b74  7e7 ,petition = removal f     

designation  7#a7 ,9 g5]al ,a =eign     
indu/rial def5se corporation may        
petition ! ,secret>y to n be includ$ or 
remov$ f a report "u subsection 7a74    
7#b7 ,requirem5ts ,a petition "u        
p>agraph 7#a7 %all include su*          
docum5tation ( ! assets & liabilities1  
company f9ancial records1 own]%ip &     
inve/or records1 & pa/ & curr5t bus9ess 
contracts ( ! =eign indu/rial def5se    
corporation submitt+ su* petition t !   
,secret>y det]m9es necess>y4  7f7 ,f9al 
report ,n lat] ?an #h ye>s aft] ! date (
 ! enactm5t ( ?is section1 ! ,secret>y  
%all submit to ! ,committee on ,bank+1  
,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! 
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives a f9al report on
 ! implem5tation ( ?is section1         
includ+-- 7#a7 an analysis ( !          
effectiv5ess ( ?is section2  7#b7 !     
developm5t & ma9t5ance ( ! reports      
requir$ "u subsection 7a72 &  7#c7 a    
description ( complet$ & ongo+ civil &  
crim9al cases relat$ to securities (    

=eign indu/rial def5se corporations4    
7g7 ,sunset ,?is section & ! au?ority "u
 ?is section %all expire on ! date t is 
#aj ye>s aft] ! date ( ! enactm5t ( ?is 
section4  7h7 ,def9itions ,9 ?is        
section3 7#a7 ,,pla entity ,! t]m ,,pla 
entity means any entity ( ! ,*9ese      
milit>y1 includ+ ! ,p's ,lib]ation      
,army1 ,navy1 ,air ,=ce1 ,rocket ,=ce1  
,/rategic ,support ,=ce1 & ,jo9t        
,logi/ics ,=ce1 & ! ,*9ese intellig5ce  
community4  7#b7 ,=eign indu/rial def5se
 corporation ,! t]m =eign indu/rial     
def5se corporation means any corporation
 bas$-- 7,a7 outside ( ! ,unit$ ,/ates2 
&  7,b7 9 a c\ntry t ! ,secret>y1 9     
consultation ) ! ,secret>y ( ,def5se1 ! 
,secret>y ( ,/ate1 & ! dome/ic          
intellig5ce community1 det]m9es does n  
possess positive economic & milit>y     
relations ) ! ,unit$ ,/ates4  7#c7      
,secret>y ,! t]m ,secret>y means !      
,secret>y ( ! ,treasury4  7#d7          
,sub/antial ,! t]m sub/antial %all1 )   
respect to contracts )1 ties to1 or     

support f1 a ,,pla entity1 h ! mean+    
det]m9$ by ! ,secret>y1 9 consultation )
 ! ,secret>y ( ,/ate1 ! ,secret>y (     
,def5se1 & ! dome/ic intellig5ce        
community4