GENE Act Genomics Expenditures and National Security Enhancement Act of 2023
Impact
The introduction of SB1827 signifies a proactive approach in safeguarding sensitive genetic information from potential foreign exploitation. By tightening the requirements for foreign investment reviews, the bill seeks to mitigate risks associated with foreign access to personal health data. This legislative measure could serve to enhance public trust in how genetic information is managed and regulated, ensuring that concerns regarding privacy and security are prioritized in investment contexts.
Summary
SB1827, known as the Genomics Expenditures and National Security Enhancement Act of 2023 (GENE Act), aims to fortify the review processes related to foreign investments in U.S. businesses that handle genetic information. It amends the Defense Production Act of 1950 by requiring mandatory declarations for transactions that involve investments by foreign entities in American firms maintaining or collecting genetic data. The bill underscores the significance of genetic information in national security, emphasizing its potential implications for individual privacy and public health.
Contention
While supporters of SB1827 argue that it is a necessary step for national security and public health protection, critics may raise concerns regarding the implications for innovation and access in the biotechnology sector. Some may argue that overly stringent regulations could deter foreign investments that are essential for advancing healthcare technologies. This highlights a delicate balance between safeguarding sensitive data and promoting a conducive environment for biotechnology advancements.
Campaign finance: contributions and expenditures; provision related to officeholders raising funds when facing a recall; modify, and require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
Campaign finance: contributions and expenditures; funds donated to a candidate for recall efforts; require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
A concurrent resolution recognizing wild rice as sacred and central to the culture and health of Indigenous Peoples in Minnesota and critical to the health and identity of all Minnesota citizens and ecosystems and establishing a commitment to passing legislation to protect wild rice and the freshwater resources upon which it depends.