Strategic Assets Protection Act

Full Title:
Strategic Assets Protection Act

Summary#

This bill directs the Committee on Foreign Investment in the United States (CFIUS) to review all transactions completed on or after January 1, 2017 that involve real estate, businesses, critical infrastructure, or assets located within, adjacent to, or functionally supporting facilities connected to the United States nuclear triad. The facilities named include intercontinental ballistic missile facilities, ballistic missile submarine bases and shipyards, strategic bomber bases, associated weapons storage areas, nuclear command, control, and communications infrastructure, and National Nuclear Security Administration (NNSA) production or research facilities. The review must assess whether any transaction poses a risk to national security and whether mitigation, reopening of review, or a recommendation to the President under section 721(d) of the Defense Production Act of 1950 is warranted. The Secretary of the Treasury must submit a classified report of findings and actions taken or recommended to the House and Senate Committees on Appropriations and Armed Services within 180 days of enactment, with an unclassified summary to the extent practicable.

What it means for you#

  • Transactions on or after January 1, 2017 that involve the types of property or assets listed may be reviewed by CFIUS.
  • Owners, buyers, or businesses with property within, next to, or supporting the listed nuclear-related facilities could have those past transactions examined.
  • The review will look for national security risks and may lead to mitigation requirements, reopening a past review, or a recommendation to the President for further action.
  • Congress will receive a classified report of the review results within 180 days of the bill becoming law, and an unclassified summary when possible.

Expenses#

No publicly available information on projected costs or budgetary impact is included in the bill text or provided metadata.

Proponents' View#

No publicly available information on proponents' arguments or statements is included in the bill text or provided metadata.

Opponents' View#

No publicly available information on opponents' arguments or statements is included in the bill text or provided metadata.