HR5236-119

What This Bill Does

The Critical Infrastructure Security Act amends the Defense Production Act's CFIUS provisions. It expands covered sensitive facilities and property by adding intelligence community facilities, National Laboratories, and facilities sensitive for reasons relating to critical infrastructure, including drinking water, alongside national security sensitivity. CFIUS annual reports must list notices, declarations, reviews, and investigations of covered transactions involving government facilities and property determined sensitive for national security or critical infrastructure reasons. By January 31 each year, each CFIUS member must review the list of sensitive facilities and property for the member's agency and submit an Assistant Secretary-level approved report to the CFIUS chairperson with recommended updates or revisions. On request from specified Members of Congress, the chairperson must provide a classified briefing to the Member and appropriately cleared staff regarding the list.

Who Benefits and How

CFIUS reviewers benefit because critical infrastructure, drinking water, intelligence community, and National Laboratory facilities become explicit parts of sensitive real estate screening. Congressional national security members benefit from classified briefings on the sensitive facilities and property list. Drinking water utilities benefit from more visibility in foreign investment reviews involving nearby or related facilities. National Laboratories benefit from explicit inclusion in the sensitive-property framework.

Who Bears the Burden and How

CFIUS member agencies must review sensitive facility lists every January and submit Assistant Secretary-level reports. Treasury CFIUS chairperson staff must maintain the updated list, include transaction data in annual reports, and provide classified briefings. Foreign investors near critical infrastructure face more CFIUS scrutiny and possible transaction delays. Agency security offices must identify facilities and property sensitive for national security or critical infrastructure reasons.

Key Provisions

• Expands CFIUS sensitive real estate factors to include intelligence community and National Laboratory facilities.
• Adds critical infrastructure, including drinking water infrastructure, as a reason for sensitivity.
• Requires CFIUS annual reports to list notices, declarations, reviews, and investigations involving sensitive facilities and property.
• Requires each CFIUS member agency to review sensitive facility lists by January 31 every year.
• Requires classified briefings for specified Members of Congress on request.