| 1 | 1 | | By: Parker S.B. No. 2142 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to requiring the attorney general to establish a process |
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| 7 | 7 | | to identify and report certain foreign-related transactions in this |
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| 8 | 8 | | state to the Committee on Foreign Investment in the United States. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter B, Chapter 402, Government Code, is |
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| 11 | 11 | | amended by adding Section 402.040 to read as follows: |
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| 12 | 12 | | Sec. 402.040. REPORTING NON-NOTIFIED FOREIGN TRANSACTIONS. |
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| 13 | 13 | | (a) In this section, "non-notified transactions" means foreign |
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| 14 | 14 | | investments in the United States that are not voluntarily submitted |
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| 15 | 15 | | to the Committee on Foreign Investment in the United States for |
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| 16 | 16 | | review under 50 U.S.C. Section 4565. |
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| 17 | 17 | | (b) The office of the attorney general shall establish a |
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| 18 | 18 | | process by which local officials, state officials, or other persons |
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| 19 | 19 | | may submit to the office information or concerns regarding |
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| 20 | 20 | | non-notified transactions in this state. The office of the |
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| 21 | 21 | | attorney general may adopt any necessary rules to implement this |
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| 22 | 22 | | subsection. |
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| 23 | 23 | | (c) The attorney general may submit a memorandum or report |
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| 24 | 24 | | concerning non-notified transactions the office of the attorney |
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| 25 | 25 | | general has identified in this state to the Committee on Foreign |
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| 26 | 26 | | Investment in the United States. |
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| 27 | 27 | | (d) The office of the attorney general shall: |
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| 28 | 28 | | (1) retain a copy of any documents submitted to the |
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| 29 | 29 | | committee described by Subsection (c) that are included with a |
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| 30 | 30 | | memorandum or report submitted under that subsection; and |
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| 31 | 31 | | (2) notify the legislature and the governor as soon as |
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| 32 | 32 | | practicable after submitting a memorandum, report, or other |
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| 33 | 33 | | information under Subsection (c). |
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| 34 | 34 | | SECTION 2. This Act takes effect September 1, 2023. |
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