Time Is Up Act of 2023

Summary

Time Is Up Act of 2023 This bill sets time limits for the President to make certain decisions and take certain actions related to Committee on Foreign Investment in the United States (CFIUS) national security reviews and investigations that are incomplete as of this bill's enactment date. (CFIUS is an interagency committee that oversees the national security risk of certain foreign direct investments in the U.S. economy. It may recommend that the President suspend or prohibit certain transactions.) For certain transactions that are pending CFIUS review on the date of this bill's enactment, the President must announce a decision on whether to suspend or prohibit the transaction no later than 15 days after the bill's enactment. Specifically, this requirement applies to transactions where on the date of the bill's enactment (1) more than 105 days have passed since CFIUS accepted written notice of the transaction from one or more parties to the transaction, (2) more than 105 days have passed since CFIUS unilaterally initiated a review, or (3) more than 60 days have passed since a national security investigation was initiated based on the recommendation of a designated lead agency. The President must complete any suspensions or prohibitions announced as a result of this bill's requirements within 30 days of the announcement. Additionally, the President must complete within 30 days of the bill's enactment any suspensions or prohibitions announced prior to the bill's enactment.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 April 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 April 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 April 2023

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.