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H.R.556: Foreign Investment and National Security Act of 2007

About This Bill

Bill Summary

Foreign Investment and National Security Act of 2007 - (Sec. 2) Amends the Defense Production Act of 1950 to revise provisions concerning presidential authority to review certain mergers, acquisitions, and takeovers to direct the President, acting through the Committee on Foreign Investment in the United States (CFIUS), and upon receiving written notification from any parties to a possible merger, acquisition or takeover proposed or pending...

(Source: Library of Congress)

Congressional Budget Office Estimate

The Congressional Budget Office has produced a cost estimate for H.R.556.
See estimate

Bill Actions

Date Description
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Financial Services
Referred to House Energy and Commerce
Referred to House Foreign Affairs
Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Mr. Frank (MA) asked unanimous consent that the Committee on Financial Services have until midnight on Feb. 23 to file a report on H.R. 556. Agreed to without objection.
Reported (Amended) by the Committee on Financial Services. H. Rept. 110-24, Part I.
Committee on Energy and Commerce discharged.
Committee on Foreign Affairs discharged.
Placed on the Union Calendar, Calendar No. 9.
Rules Committee Resolution H. Res. 195 Reported to House. Rule provides for consideration of H.R. 556 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be read by section. Bill is open to amendments. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.
Rule H. Res. 195 passed House.
Considered under the provisions of rule H. Res. 195.
Rule provides for consideration of H.R. 556 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be read by section. Bill is open to amendments. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 195 and Rule XVIII.
The Speaker designated the Honorable Ed Pastor to act as Chairman of the Committee.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 556.
DEBATE - The Committee of the Whole proceeded with debate on the Frank (MA) amendment under the five-minute rule.
DEBATE - The Committee of the Whole proceeded with debate on the King (IA) amendment under the five-minute rule.
DEBATE - The Committee of the Whole proceeded with debate on the Barrow amendment numbered 12 under the five-minute rule.
DEBATE - The Committtee of the Whole proceeded with debate on the McCaul amendment numbered 5 under the five-minute rule.
POSTPONED PROCEEDINGS - At the conclusion of the debate on the McCaul amendment numbered 5, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes prevailed. Mr. McCaul demanded a recorded vote and the Chair announced further proceedings on the question of adoption of the amendment until late in the legislative day.
DEBATE - The Committee of the Whole proceeded with debate on the McCaul amendment numbered 6 under the five-minute rule.
POSTPONED PROCEEDINGS - At the conclusion of the debate on the McCaul amendment numbered 6, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes prevailed. Mr. McCaul demanded a recorded vote and the Chair announced further proceedings on the question of adoption of the amendment until late in the legislative day.
DEBATE - The Committee of the Whole proceeded with debate on the McCaul amendment numbered 7 under the five-minute rule.
POSTPONED PROCEEDINGS - At the conclusion of the debate on the McCaul amendment numbered 7, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes prevailed. Mr. McCaul demanded a recorded vote and the Chair announced further proceedings on the question of adoption of the amendment until late in the legislative day.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 556.
The previous question was ordered pursuant to the rule.
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
Mr. Neugebauer moved to recommit with instructions to Financial Services.
DEBATE - The House proceeded with ten minutes of debate on the Neugebauer motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments that require the President to include in the annual report a detailed discussion of factors, including the deleterious effect of burdensome regulations.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by recorded vote: 193 - 229 (Roll no. 109).
On passage Passed by recorded vote: 423 - 0 (Roll no. 110).
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
Measure laid before Senate by unanimous consent.
Senate struck all after the Enacting Clause and substituted the language of S. 1610 amended.
Passed Senate with an amendment by Unanimous Consent.
See also S. 1610.
Message on Senate action sent to the House.
Mrs. Maloney (NY) moved that the House suspend the rules and agree to the Senate amendment.
DEBATE - The House proceeded with forty minutes of debate on the motion to suspend the rules and agree to the Senate amendment to H.R. 556.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the chair announced that further proceedings on the motion would be postponed.
On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 370 - 45 (Roll no. 614).
Motion to reconsider laid on the table Agreed to without objection.
Cleared for White House.
Presented to President.
Signed by President.
Became Public Law No: 110-49.
Jan. 18, 2007

Introduced in the House by Carolyn B. Maloney (D-N.Y.)

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