What does FOREIGN INVESTMENT REVIEW AUTHORITY. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

The Foreign Investment Review Authority (FIRA) is established. FIRA has a board of directors with members from various government departments and appointed by the President. A Chief Ethics Officer is established within FIRA to oversee ethics. A Public Oversight Board is established to provide oversight. A complaint process is established for persons to submit complaints. FIRA has rulemaking authority to carry out this Act.

What does IDENTIFICATION OF COVERED FOREIGN INVESTMENT COMMITMENTS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

This section requires FIRA to identify and publicly disclose covered foreign investment commitments on a website. The public disclosure must include the names of investing and receiving parties (including beneficial owners), the commitment location, amount, and obligation date. The disclosure also includes activities performed under qualified investments, potential conflicts of interest, and other relevant information specified by FIRA's board of directors. On the date of enactment, certain foreign investment commitments are deemed to exist. These initial commitments include those by the People's Republic of China, Japan, South Korea, and Taiwan, with specified amounts and obligation dates. A commitment by the People's Republic of China is to be determined by FIRA.

What does MEDIATION AND PROHIBITION AUTHORITY. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

This section grants the Financial Regulatory Authority (FIRA) authority regarding covered investments determined not to be qualified investments. FIRA may require mediation between itself and the person making the investment to establish new terms that would qualify the investment. FIRA has the power to suspend or prohibit covered investments that are not qualified.

What does APPLICATION OF FEDERAL ETHICS AND TRANSPARENCY LAWS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

FIRA shall issue rules to apply Federal ethics and transparency laws to parties making or receiving covered investments. These laws include specific sections of the United States Code and Code of Federal Regulations. The rules apply to persons taking actions in connection with covered investments, including Federal agencies and foreign governments.

What does FULFILLMENT OF COVERED FOREIGN INVESTMENT COMMITMENTS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

FIRA is required to maintain and regularly update a calculation of qualified investments related to covered foreign investment commitments on its website. This calculation will be available at the website described in section 4(a). If qualified investments are less than the commitment amount after a four-year period, the President must negotiate with the country that made the commitment to address the deficit.

Back to bills

Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act

Q: What does Preamble of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

This bill aims to establish the Foreign Investment Review Authority The authority will determine compliance with foreign investment commitments to the US The bill was introduced to the House of Representatives and referred to committees

Q: What does DEFINITIONS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

This section defines terms used throughout the Act. A 'covered foreign investment commitment' is a commitment by a foreign country to invest in the United States, often linked to trade agreements or responses to trade measures. A 'covered investment' is one intended to count towards a covered foreign investment commitment by the investing person, their country, or the U.S. government. The term 'family member' is defined by reference to section 9832(d) of the Internal Revenue Code of 1986. ‘FIRA’ refers to the Foreign Investment Review Authority. An investment provides a 'net economic benefit' if it promotes domestic growth, creates jobs accessible to workers without a college degree, and avoids negative impacts on the U.S. economy. A 'quality job' requires at least 30 hours of work per week, competitive compensation including benefits, and employer neutrality in union organizing drives. A 'registered apprenticeship program' is defined as one registered under the National Apprenticeship Act and meeting specific regulatory standards.

Q: What does NOTICE REQUIREMENTS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

This section establishes notice requirements for covered investments. Each person making an investment believed to be a covered investment must notify FIRA in writing, providing lists of owners, advisors, and interested parties. Quarterly updates on the investment are required until completion. FIRA can determine if an investment is covered regardless of the investor's belief. If information required for notice is unavailable, it can be provided within 5 days of becoming known. Senior officials of both the investor and recipient must file signed attestations regarding the investment's economic benefit and compliance with ethics rules. Senior government officials (President, Vice President, cabinet officials) must disclose potential benefits from covered investments. FIRA must provide real-time access to notices and disclosures to the Chief Ethics Officer and the Public Oversight Board. Failure to comply with notice, update, or attestation requirements, or making material misstatements, can result in a fine up to 10% of the investment's value.

Q: What does REVIEW OF INVESTMENTS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

FIRA reviews investments to determine if they are covered or qualified investments. FIRA may review investments upon notification or through a petition process. A qualified investment must comply with ethics and transparency rules, provide a net economic benefit to the US, and not be prohibited. Certain investments, such as those in bonds or diversified funds, may be exempt from the net economic benefit requirement. FIRA maintains a public website listing reviewed investments and their status.

Q: What does REPORTING REQUIREMENTS. of Foreign Investment Review Monitoring and Commitment Tracking Oversight Board Act do?

This section establishes reporting requirements for FIRA. FIRA must submit an annual report to Congress detailing investments reviewed and identified trends or risks. The annual report to Congress will be unclassified, but may include a classified annex. FIRA is required to issue a semiannual public report on the implementation of the Act, qualified investments, and related job creation. The semiannual public report must include information on job compensation, unionization, foreign employee status, and inputs used in production facilities. The semiannual report also covers compliance with mitigation agreements and enforcement actions by FIRA. The Chief Ethics Officer must provide quarterly reports to Congress and the public, listing complaints received and their resolutions.

Last updated: 6/11/2026 · Introduced: 6/11/2026

Author: Ro Khanna (D-CA)

TL;DR (AI)

This bill establishes the Foreign Investment Review Authority (FIRA) to oversee compliance with foreign investment commitments made to the United States.
FIRA is required to identify and publicly disclose covered foreign investment commitments, including details about investing and receiving parties, amounts, and obligations.
Individuals and entities making investments believed to be covered must provide written notice to FIRA, including regular updates and attestations regarding economic benefits and ethics compliance.
FIRA has the authority to review investments, require mediation to establish qualifying terms, and suspend or prohibit investments that do not meet requirements.
The bill mandates FIRA to track and publicly report on qualified investments related to covered commitments, and requires the President to negotiate with countries if commitments are not fulfilled.

119th Congressin committeeS. 4748(In Committee)Official page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, definitions., and 8 more.

10 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account