Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB4849

Introduced
7/30/24  

Caption

A bill to require the Secretary of State to seek to enter into negotiations with the Government of Ukraine for the establishment by that Government of a foreign investment review mechanism.

Impact

The successful implementation of this bill would significantly alter how foreign investments are assessed in Ukraine and strengthen the country's ability to protect its economic sovereignty. By establishing a structured review mechanism, Ukraine would be better equipped to analyze the potential risks associated with foreign investments, especially pertaining to critical industries and national security matters. The U.S. involvement is expected to include training and assistance for Ukrainian officials, which facilitates capacity building within the country’s oversight mechanisms.

Summary

SB4849 is a legislative proposal that mandates the Secretary of State to negotiate with the Government of Ukraine regarding the establishment of a foreign investment review mechanism. This mechanism is intended to specifically scrutinize foreign investments within Ukraine, particularly those from the People's Republic of China. The bill aligns the proposed review process with similar reviews conducted in the United States under the Committee on Foreign Investment, aiming to enhance Ukraine’s capability to monitor and manage foreign investments that may pose a national security risk.

Contention

While the bill seeks to bolster Ukraine’s defenses against foreign economic pressures, particularly from China, it may also attract criticisms regarding its implications for international investment and cooperation. Questions might arise about the balance between necessary scrutiny and the potential chilling effect on foreign capital inflows. Some stakeholders may be concerned that excessive scrutiny could hinder beneficial investments from allies, thus leading to economic drawbacks in sectors that require foreign capital and expertise.

Companion Bills

No companion bills found.

Previously Filed As

US HB8683

To require the Secretary of Defense and the Secretary of State to monitor efforts by the People's Republic of China to build or buy strategic foreign ports, and for other purposes.

US HR915

Urging the Government of Ukraine to review and modify its decision to suspend adoption by foreign nationals with a view to resuming such adoptions, particularly in cases where the mutual concerns of the Governments of Ukraine and of the United States can be substantially addressed.

US SB618

Protecting America's Agricultural Land from Foreign Harm Act of 2025This bill prohibits persons associated with the governments of Iran, North Korea, China, or Russia from purchasing or leasing agricultural land in the United States.Specifically, the President must prohibit any person (individual or entity) owned by, controlled by, or subject to the jurisdiction or direction of these foreign governments from purchasing or leasing (1) public agricultural land that is owned by the United States and administered by a federal department or agency, or (2) private agricultural land that is located in the United States.A person that violates or attempts to violate this prohibition is subject to civil and criminal penalties. This prohibition does not require a person that owns or leases agricultural land as of the date of this bill's enactment to sell that land.Further, the President must prohibit a person associated with these foreign governments and who leases, or who has full or partial ownership of, agricultural land in the United States from participating in Department of Agriculture (USDA) programs. Exceptions are included to allow for participation in USDA programs related to food safety, the health and labor safety of individuals, or certain reporting and disclosure requirements.The bill excludes U.S. citizens or lawful permanent residents from these restrictions.The bill also amends the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) to require reporting on security interests and leases.Finally, the Government Accountability Office must submit a report to Congress on AFIDA.

US SB5648

A bill to protect the national security of the United States by imposing sanctions with respect to certain persons of the People's Republic of China and prohibiting and requiring notifications with respect to certain investments by United States persons in the People's Republic of China, and for other purposes.

US SB1053

FIGHT China Act of 2025 Foreign Investment Guardrails to Help Thwart China Act of 2025

US HB8771

Department of State, Foreign Operations, and Related Programs Appropriations Act, 2025

US HR232

Calling on the Government of Panama to expel officials and interests of the People's Republic of China and terminate Chinese management of key Panamanian ports.

US SB4703

United States-Philippines Partnership Act of 2024

US HB1005

Combating the Lies of Authoritarians in School Systems Act or the CLASS ActThis bill prohibits public elementary and secondary schools, as a condition of receiving federal elementary and secondary education funds, from accepting funds from or entering into a contract with the Chinese government, the Chinese Communist Party (CCP), or any individual or entity acting on behalf of the Chinese government or the CCP. The bill also requires schools to disclose funding from or contracts with a foreign source to the Department of Education.

US SB1513

A bill to direct the Secretary of State to seek to enter into negotiations with the Taipei Economic and Cultural Representative Office to rename its office the "Taiwan Representative Office", and for other purposes.

Similar Bills

No similar bills found.