Safe and Accountable Foreign Enterprises Proving Other Requirements To Secure (SAFE PORTS) Act

Summary

Safe and Accountable Foreign Enterprises Proving Other Requirements To Secure (SAFE PORTS) Act - Amends the Defense Production Act of 1950 to prohibit a proposed corporate merger, acquisition, or takeover (transaction) in the United States by or with a foreign interest which could result in foreign control unless the President has determined that: (1) there is no credible evidence to believe that the foreign interest might take action that would threaten to impair U.S. national security; and (2) provisions of law other than the Defense Production Act of 1950 and the International Emergency Economic Powers Act provide adequate and appropriate authority for the President to protect the national security with respect to the proposed transaction. States that: (1) if the President is unable to make such a determination, then an investigation of the proposed transaction shall be made; and (2) a presidential determination shall not be subject to judicial review. Requires quarterly reports from the President to Congress on actions taken with respect to proposed transactions.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 February 2006

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• Introduced in House (PDF)

  Introduced in House · EN · 28 February 2006

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• Introduced in House

  summary · EN · 28 February 2006

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