,,ii #aah? ,,congress #a/ ,session ,s4 #ii ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,janu>y #bf1 #bjbc,mr4 ,rubio introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to e/abli% a ,national ,developm5t ,/rategy1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,national ,developm5t ,/rategy & ,coord9ation ,act ( #bjbc4 #b4 ,def9itions ,9 ?is ,act3 7#a7 ,appropriate congressional committee ,! t]m appropriate congressional committee means-- 7,a7 ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs1 ! ,committee on ,f9ance1 ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation1 & ! ,select ,committee on ,intellig5ce ( ! ,s5ate2 & 7,b7 ! ,committee on ,f9ancial ,s]vices1 ! ,committee on ,en]gy & ,comm]ce1 & ! ,p]man5t ,select ,committee on ,intellig5ce ( ! ,h\se ( ,repres5tatives4 7#b7 ,c\ntry ( conc]n ,! t]m c\ntry ( conc]n means-- 7,a7 ! ,p's ,republic ( ,*9a & any o!r =eign gov]nm5t or =eign non-gov]nm5t p]son det]m9$ to be a =eign adv]s>y "u section #g4d ( title #ae1 ,code ( ,f$]al ,regulations1 or any successor regulation2 or 7,b7 any c\ntry det]m9$ by ! ,secret>y ( ,comm]ce1 9 consultation ) ! ,unit$ ,/ates ,trade ,repres5tative1 ! ,secret>y ( ,def5se1 & ! ,director ( ,national ,intellig5ce1 to h inadequate safegu>ds 9 place to protect ,unit$ ,/ates funds 7or intellectual prop]ty develop$ us+ su* funds7 f !ft or transf] to a =eign gov]nm5t or =eign non-gov]nm5t p]son describ$ 9 subp>agraph 7,a74 7#c7 ,entity ( conc]n ,! t]m entity ( conc]n means-- 7,a7 an entity headqu>t]$ 9 a c\ntry ( conc]n2 7,b7 an entity t is m ?an #be-p]c5t own$ by individuals or entities 9 c\ntries ( conc]n2 7,c7 an entity on ! li/ ( specially designat$ nationals & block$ p]sons ma9ta9$ by ! ,(fice ( ,=eign ,assets ,control ( ! ,dep>tm5t ( ! ,treasury 7commonly ref]r$ to z ! ,,sdn li/72 7,d7 an entity on ! ,non-,,sdn ,*9ese ,milit>y-,indu/rial ,complex ,companies ,li/-- 7i7 e/abli%$ pursuant to ,executive ,ord] #aciei 7#ej ,u4,s4,c4 #agja note2 relat+ to address+ ! ?reat f securities inve/m5ts t f9ance ,communi/ ,*9ese milit>y companies71 z am5d$ be=e1 on1 or aft] ! date ( ! enactm5t ( ?is ,act2 & 7ii7 ma9ta9$ by ! ,(fice ( ,=eign ,assets ,control2 7,e7 a ,*9ese milit>y company on ! li/ requir$ by section #abfj;,h ( ! ,william ,m4 7,mac7 ,?ornb]ry ,national ,def5se ,au?orization ,act = ,fiscal ,ye> #bjba 7,public ,law #aaf-bhc2 #aj ,u4,s4,c4 #aac note72 7,f7 an entity on ! ,entity ,li/ ma9ta9$ by ! ,bureau ( ,indu/ry & ,security ( ! ,dep>tm5t ( ,comm]ce & set =? 9 ,supplem5t ,no4 #d to "p #gdd ( title #ae1 ,code ( ,f$]al ,regulations1 or any successor regulation2 7,g7 an entity t produces equipm5t or s]vices on ! li/ ( communications equipm5t & s]vices t pose an unacceptable risk to ! national security ( ! ,unit$ ,/ates or ! security & safety ( ,unit$ ,/ates p]sons ma9ta9$ by ! ,f$]al ,communications ,commission "u section #b ( ! ,secure & ,tru/$ ,communications ,networks ,act ( #bjai 7#dg ,u4,s4,c4 #afja72 or 7,h7 any entity t is majority own$ or controll$ by1 or "u common own]%ip or control )1 an entity describ$ 9 any ( subp>agraphs 7,a7 ?r\gh 7,g74 #c4 ,e/abli%m5t ( ! ,int]ag5cy ,committee = ! coord9ation ( ,national ,developm5t ,f9anc+ ,programs 7a7 ,e/abli%m5t ,!re is e/abli%$ 9 ! ,executive ,(fice ( ! ,presid5t a ,committee to be kn[n z ! ,int]ag5cy ,committee = ! ,coord9ation ( ,national ,developm5t ,f9anc+ ,programs 7ref]r$ to 9 ?is ,act z ! ,committee74 7b7 ,memb]%ip 7#a7 ,composition ,! ,committee %all consi/ ( ! foll[+ memb]s3 7,a7 ,! ,secret>y ( ,transportation or a designee ( ! ,secret>y4 7,b7 ,! ,secret>y ( ,en]gy or a designee ( ! ,secret>y4 7,c7 ,! ,secret>y ( ,comm]ce or a designee ( ! ,secret>y4 7,d7 ,! ,secret>y ( ,labor or a designee ( ! ,secret>y4 7,e7 ,! ,secret>y ( ! ,treasury or a designee ( ! ,secret>y4 7,f7 ,! ,adm9i/rator ( ! ,small ,bus9ess ,adm9i/ration or a designee ( ! ,adm9i/rator4 7,g7 ,! ,secret>y ( ,def5se or a designee ( ! ,secret>y4 7,h7 ,! ,director ( ,national ,intellig5ce or a designee ( ! ,director4 7,i7 ,! ,secret>y ( ,agriculture or a designee ( ! ,secret>y4 7,j7 ,! ,unit$ ,/ates ,trade ,repres5tative or _! designee4 7,k7 ,! ,*air ( ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve or a designee ( ! ,*air1 :o %all s]ve z a nonvot+ memb]4 7,l7 ,! ,secret>y ( ! ,treasury or a designee ( ! ,secret>y1 :o %all s]ve z ! *air ( ! ,committee4 7#b7 ,tie vote ,9 ! ev5t ( a tie vote1 ! vote ( ! *air ( ! ,committee %all s]ve z ! tie-break]4 7c7 ,duties ,! ,committee-- 7#a7 %all submit to ,congress ! ,national ,developm5t ,/rategy describ$ 9 subsection 7d72 7,a7 n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act2 & 7,b7 n lat] ?an #a ye> aft] ,janu>y #bj1 #bjbe1 & e #d ye>s !reaft]1 & 9 ea* su* ye> n e>li] ?an ! late/ date on :i* ! budget ( ! ,presid5t may be submitt$ to ,congress "u section #aaje7;a7 ( title #ca1 ,unit$ ,/ates ,code1 submit to ,congress ! ,national ,developm5t ,/rategy describ$ 9 subsection 7d72 & 7#b7 %all id5tify economic sectors ( ! ,unit$ ,/ates1 regions ( ! ,unit$ ,/ates1 &1 z necess>y & support$ by sub/antial evid5ce1 projects or p>tn]%ips t advance ! goals ( ! ,national ,developm5t ,/rategy describ$ 9 subsection 7d71 to :i* f9anc+ assi/ance %\ld be prioritiz$ by memb] ag5cies ( ! ,committee & %\ld be provid$ or support$ by ! ,f$]al ,f9anc+ ,bank4 7d7 ,national ,developm5t ,/rategy ,! ,committee %all develop a publicly available 7except = an all[able classifi$ annex7 ,national ,developm5t ,/rategy1 :i* %all-- 7#a7 id5tify & address vuln]abilities 9 ,unit$ ,/ates supply *a9s 9 indu/ries critical to national security2 7#b7 id5tify & address vuln]abilities & %ortfalls 9 dome/ic manufactur+ capabilities t ?reat5 ! ability ( ! ,unit$ ,/ates to ma9ta9 a global advantage 9 innovation & manufactur+2 7#c7 id5tify weaknesses & discuss opportunities to /r5g!n ! broad indu/rial base ( ! ,unit$ ,/ates1 :i* may include-- 7,a7 /r5g!n+ supply *a9 resili5cy2 7,b7 support+ indu/ries critical = ! national security2 7,c7 develop+ te*nologies t provide sci5tific or comm]cial value to ! ,unit$ ,/ates2 7,d7 support+ job gr[? & developm5t ( critical manufactur+ capabilities )9 ! ,unit$ ,/ates work=ce2 7,e7 support+ ! developm5t & adoption ( innovative res\rce extraction te*nologies1 includ+ = r5ewable en]gy2 & 7,f7 support+ job gr[? & economic developm5t 9 critical indu/ries 9 communities designat$ z qualifi$ opportunity zones "u section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf2 7#d7 id5tify indu/ries & regions 9 ! ,unit$ ,/ates t require assi/ance 9 ord] to address vuln]abilities & advance ! goals describ$ 9 p>agraphs 7#a71 7#b71 & 7#c72 & 7#e7 outl9e a /rategic plan to promote inve/m5t 9 ! indu/ries describ$ 9 p>agraph 7#d71 :i* %all include-- 7,a7 an e/imate ( ! am\nt & nature ( public f9anc+ ne$$ to a*ieve ! goals & address vuln]abilities describ$ 9 p>agraphs 7#a71 7#b71 & 7#c72 7,b7 an inv5tory ( all ,f$]al programs 9 exi/5ce z ( ! date ( ! ,national ,developm5t ,/rategy t are capable ( provid+ ! f9anc+ describ$ 9 subp>agraph 7,a71 ! level ( inve/m5t f ea* su* ,f$]al program 9 ! prec$+ #e-ye> p]iod1 & a detail$ description ( h[ ea* su* program is advanc+ developm5t goals 9 ! ,unit$ ,/ates2 7,c7 recomm5dations z to h[ ,f$]al ag5cies may1 "u exi/+ ,f$]al au?orities1 lev]age & attract private inve/m5t to accompli% ! goals describ$ 9 ?is subsection2 7,d7 recomm5dations1 if applicable1 on any *anges to ,f$]al f9anc+ programs1 includ+ *anges to h[ f9anc+ decisions are prioritiz$ or creation ( new f9anc+ programs1 t may be ne$$ to advance ! goals ( ! ,national ,developm5t ,/rategy2 7,e7 directives to ! ,f$]al ,f9anc+ ,bank to accompli% ! goals ( ! ,national ,developm5t ,/rategy2 & 7,f7 p]=mance metrics to evaluate & monitor projects support$ by ! ,f$]al ,f9anc+ ,bank 9 alignm5t ) ! ,national ,developm5t ,/rategy4 7e7 ,advice & input ,! ,committee %all seek ! advice & input ( indu/ry p>tn]s1 manufactur+ policy exp]ts1 ,/ate & local developm5t (ficials1 & manufactur+ work] int]e/s :5 prep>+ ! ,national ,developm5t ,/rategy describ$ 9 subsection 7d71 includ+ by-- 7#a7 hold+ n less ?an #d public he>+s p] ye>1 ei!r virtually or 9-p]son1 dur+ :i* indu/ry repres5tatives1 work] gr\ps1 & regional repres5tatives c provide insight into /rategic developm5t prioritization2 & 7#b7 e/abli%+ an ,indu/ry ,advisory ,bo>d ( n m ?an #aj memb]s appo9t$ by ! ,presid5t1 :i* %all include-- 7,a7 an exp]t 9 indu/ry competitiv5ess & national security2 7,b7 a manufactur+ trade association repres5tative2 7,c7 a repres5tative ( small bus9ess gov]nm5t contractors2 7,d7 a manufactur+ work] repres5tative2 7,e7 a repres5tative f a private inve/m5t firm inve/+ 9 critical indu/ries & fronti] te*nology2 & 7,f7 su* o!r repres5tatives z ! ,presid5t may appo9t4 7f7 ,assessm5t ( ,national ,developm5t ,/rategy ,9 ,janu>y ( ea* ye> 9 :i* ! ,committee does n submit a new ,national ,developm5t ,/rategy z requir$ "u subsection 7d71 ! ,committee %all submit to ! appropriate congressional committees an assessm5t ( ! mo/ rec5tly publi%$ ,national ,developm5t ,/rategy1 :i* %all include-- 7#a7 an acc\nt+ ( any new inve/m5ts made by ! ,f$]al ,f9anc+ ,bank or memb] ag5cies ( ! ,committee 9 ! prec$+ ye>1 includ+ ,,zip ,code1 ,nor? ,am]ican ,indu/ry ,classification ,sy/em code1 & f9anc+ /age2 7#b7 ! p]=mance ( su* inve/m5ts1 9 accordance ) p]=mance metrics e/abli%$ by ! ,committee2 7#c7 an assessm5t ( ! implem5tation ( ! ,national ,developm5t ,/rategy1 includ+ an assessm5t by ea* ag5cy repres5t$ on ! ,committee1 support$ by suffici5t evid5ce1 ( /eps tak5 to align su* ag5cies' f9anc+1 rese>*1 & developm5t activities ) ! goals ( ! ,national ,developm5t ,/rategy2 & 7#d7 a det]m9ation on :e!r or n an update is ne$$ to ! ,national ,developm5t ,/rategy z a result ( a *ange 9 assumptions1 geopolitical dynamics1 or o!r factors4 7g7 ,memor&um ( coord9ation ) ,f$]al ag5cies engag$ 9 inve/m5t & f9anc+ activities ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,committee %all negotiate a memor&um ( und]/&+ among ! ,f$]al ag5cies repres5t$ on ! ,committee1 :i* %all-- 7#a7 e/abli% proc$ures =-- 7,a7 align+ _! respective inve/m5t & f9anc+ au?orities to ensure maximum effici5cy & comply ) ! goals ( ! ,national ,developm5t ,/rategy2 7,b7 resolv+ conflicts 9 cases ( ov]lapp+ jurisdiction betwe5 _! respective ag5cies2 & 7,c7 avoid+ conflict+ or duplicative op]ation ( s]vices4 7#b7 be review$ & updat$ annually 9 coord9ation ) ! submission ( ! assessm5t outl9$ 9 subsection 7f74 7h7 ,meet+s ,! ,committee %all meet regul>ly & z requir$ by ! ,presid5t1 b n less frequ5tly ?an annually4 7i7 ,/rategic alignm5t ,ea* ,f$]al ag5cy repres5t$ on ! ,committee %all-- 7#a7 consult on a regul> basis ! mo/ rec5tly publi%$ ,national ,developm5t ,/rategy describ$ 9 subsection 7d72 & 7#b7 to ! ext5t practicable1 give priority consid]ation to projects t align ) ! goals ( ! ,national ,developm5t ,/rategy :5 engag$ 9 f9anc+1 rese>*1 & developm5t activities4 #d4 ,requirem5ts ( ! ,f$]al ,f9anc+ ,bank relat+ to ! ,national ,developm5t ,/rategy 7a7 ,9 g5]al ,! ,f$]al ,f9anc+ ,bank ,act ( #aigc 7#ab ,u4,s4,c4 #bbha et seq47 is am5d$ by add+ at ! end ! foll[+3 #ba4 ,functions ) respect to ! ,committee 7a7 ,9 g5]al ,! ,bank %all c>ry out any directives made to ! ,bank by ! ,int]ag5cy ,committee = ! ,coord9ation ( ,national ,developm5t ,f9anc+ ,programs pursuant to subsections 7c77#b7 & 7d77#e77;,e7 ( section #c ( ! ,national ,developm5t ,/rategy & ,coord9ation ,act ( #bjbc4 7b7 ,activities ,pursuant to subsection 7a71 ! ,bank is au?oriz$1 ^u direction by ! ,int]ag5cy ,committee = ! ,coord9ation ( ,national ,developm5t ,f9anc+ ,programs1 to-- 7#a7 issue securities t are back$ by f9anc+ assi/ance ?r\gh any memb] ag5cy ( ! ,committee2 7#b7 pur*ase f ! private m>ket loans or o!r debt or equity in/rum5ts gu>ante$ 9 :ole or 9 "p by any memb] ag5cy ( ! ,committee2 & 7#c7 p>ticipate 9 ag5cy loans or loan gu>antees 9 an am\nt less ?an #ajj p]c5t ( ! pr9cipal am\nt ( f9anc+4 7c7 ,pur*ase n = resale ,z direct$ by ! ,int]ag5cy ,committee = ! ,coord9ation ( ,national ,developm5t ,f9anc+ ,programs 9 accordance ) ! ,national ,developm5t ,/rategy e/abli%$ "u section #c7;d7 ( ! ,national ,developm5t ,/rategy & ,coord9ation ,act ( #bjbc1 ! ,bank may1 z necess>y1 pur*ase n = resale to ! private m>ket any loans or o!r debt or equity in/rum5ts describ$ 9 subsection 7b77#b74 #bb4 ,second>y m>ket op]ations ,except z o!rwise provid$ 9 ! ,national ,developm5t ,/rategy & ,coord9ation ,act ( #bjbc1 obligations pur*as$ by ! ,bank may be resold 9 ! second>y m>ket 9 a simil> mann] to second>y m>ket sales ( ,treasury notes4 #bc4 ,ombudsman ,! ,bo>d ( ,directors ( ! ,bank %all designate an (ficial z ! ,ombudsman :o %all-- 7#a7 review inve/m5ts made by ! ,bank on projects or p>tn]%ips id5tifi$ by ! ,int]ag5cy ,committee = ! ,coord9ation ( ,national ,developm5t ,f9anc+ ,programs2 7#b7 review ! risk pr(iles & p]=mance ( any su* projects or p>tn]%ips2 7#c7 provide ov]sight relat+ to any su* projects or p>tn]%ips2 & 7#d7 provide annually to ! appropriate congressional committees a report detail+ inve/m5ts made by ! ,bank 9 projects or p>tn]%ips id5tifi$ by ! ,committee describ$ 9 p>agraph 7#a71 ! p]=mance ( su* inve/m5ts1 & any new or exi/+ inve/m5ts t may pres5t cause = conc]n reg>d+ ! pot5tial ( repaym5t or lack ( alignm5t ) /rategic directives4 4 7b7 ,f$]al ,cr$it ,re=m ,act ,if ! ,committee det]m9es t a project or p>tn]%ip receiv+ f9ancial assi/ance ?r\gh any memb] ag5cy is inve/+ 9 fronti] te*nologies = :i* no reasonable m>ket comp>ison exi/s1 obligations pur*as$ 9 connection ) su* project or p>tn]%ip by ! ,f$]al ,f9anc+ ,bank "u section #ba ( ! ,f$]al ,f9anc+ ,bank ,act ( #aigc1 z add$ by subsection 7a7 ( ?is section1 %all n be subject to ! ,f$]al ,cr$it ,re=m ,act ( #aiij 7#b ,u4,s4,c4 #ffa et seq474 #e4 ,au?orization ( appropriations = ! ,f$]al ,f9anc+ ,bank 7a7 ,9 g5]al ,!re is au?oriz$ to be appropriat$ to ! ,f$]al ,f9anc+ ,bank1 to rema9 available = #aj ye>s aft] ! date ( di/ribution1 to c>ry out projects & p>tn]%ips select$ by ! ,national ,developm5t ,/rategy e/abli%$ "u section #c7;d7 ( ?is ,act-- 7#a7 = fiscal ye> #bjbd1 #e1jjj1jjj1jjj2 7#b7 = fiscal ye> #bjbe1 #e1jjj1jjj1jjj2 7#c7 = fiscal ye> #bjbf1 #e1jjj1jjj1jjj2 & 7#d7 = fiscal ye> #bjbg1 #e1jjj1jjj1jjj2 7b7 ,set aside ,n m ?an #b p]c5t ( funds appropriat$ "u ?is section %all be utiliz$ = adm9i/rative co/s1 includ+ ! hir+ ( new /aff to ov]see & accompli% ! functions ( ! ,f$]al ,f9anc+ ,bank4 7c7 ,s5se ( ,congress ,x is ! s5se ( ,congress t ! ,f$]al ,f9anc+ ,bank %\ld use am\nts appropriat$ "u ?is section z soon z possible4 #f4 ,prohibitions & policy 7a7 ,prohibition ,no fund+ or au?orities provid$ "u ?is ,act may be us$ to support projects or p>tn]%ips ) any entity ( conc]n4 7b7 ,policies ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,committee %all e/abli% policies to ensure t any support to projects or p>tn]%ips provid$ by ! ,f$]al ,f9anc+ ,bank 9 accordance ) ?is ,act-- 7#a7 includes assurances t no support provid$ 9 su* project or p>tn]%ip %all be us$ to exp& op]ations 9 a c\ntry ( conc]n2 7#b7 includes protections to ensure aga9/ transf] ( intellectual prop]ty to c\ntries ( conc]n2 & 7#c7 includes requirem5ts t any firm p>ticipat+ 9 a project or p>tn]%ip fund$ by ?is ,act disclose any affiliate1 p>5t company1 or subsidi>y locat$ 9 a c\ntry ( conc]n4