GENE Act

II 118TH CONGRESS 1ST SESSION S. 1827 To strengthen the requirements for reviews by the Committee on Foreign Investment in the United States of covered transactions involving genetic information, and for other purposes. IN THE SENATE OF THE UNITED STATES JUNE 6, 2023 Mr. RUBIO (for himself and Mr. CORNYN) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To strengthen the requirements for reviews by the Committee on Foreign Investment in the United States of covered transactions involving genetic information, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Genomics Expendi- 4 tures and National Security Enhancement Act of 2023’’ 5 or the ‘‘GENE Act’’. 6 VerDate Sep 11 2014 22:57 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1827.IS S1827 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1827 IS SEC. 2. REQUIREMENTS FOR REVIEWS OF COVERED 1 TRANSACTIONS INVOLVING GENETIC INFOR- 2 MATION. 3 (a) MANDATORY DECLARATIONS.—Section 4 721(b)(1)(C)(v)(IV) of the Defense Production Act of 5 1950 (50 U.S.C. 4565(b)(1)(C)(v)(IV)) is amended— 6 (1) by redesignating items (cc) through (gg) as 7 items (dd) through (hh), respectively; and 8 (2) by inserting after item (bb) the following: 9 ‘‘(cc) COVERED TRANS- 10 ACTIONS INVOLVING GENETIC IN- 11 FORMATION.—The parties to a 12 covered transaction shall submit 13 a declaration described in sub- 14 clause (I) with respect to the 15 transaction if the transaction in- 16 volves an investment described in 17 subsection (a)(4)(B)(iii)(III) by a 18 foreign person in a United States 19 business that maintains or col- 20 lects information about genetic 21 tests of United States citizens, 22 including any such information 23 relating to genomic sequencing.’’. 24 (b) CONSULTATION WITH SECRETARY OF HEALTH 25 AND HUMAN SERVICES.—Section 721(k)(6) of the De- 26 VerDate Sep 11 2014 22:57 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1827.IS S1827 kjohnson on DSK79L0C42PROD with BILLS 3 •S 1827 IS fense Production Act of 1950 (50 U.S.C. 4565(k)(6)) is 1 amended— 2 (1) by striking ‘‘The chairperson’’ and inserting 3 the following: 4 ‘‘(A) IN GENERAL.—The chairperson’’; and 5 (2) by adding at the end the following: 6 ‘‘(B) COVERED TRANSACTIONS INVOLVING 7 GENETIC INFORMATION.—The chairperson shall 8 consult with the Secretary of Health and 9 Human Services in any review or investigation 10 under subsection (a) of a covered transaction 11 that involves an investment described in sub- 12 section (a)(4)(B)(iii)(III) by a foreign person in 13 a United States business that maintains or col- 14 lects information about genetic tests of United 15 States citizens, including any such information 16 relating to genomic sequencing.’’. 17 (c) REGULATIONS.—Not later than 180 days after 18 the date of the enactment of this Act, the Committee on 19 Foreign Investment in the United States shall prescribe 20 regulations to carry out the amendments made by this sec- 21 tion. 22 VerDate Sep 11 2014 22:57 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S1827.IS S1827 kjohnson on DSK79L0C42PROD with BILLS 4 •S 1827 IS SEC. 3. EXPANSION OF COMMITTEES RECEIVING ANNUAL 1 TESTIMONY FROM COMMITTEE ON FOREIGN 2 INVESTMENT IN THE UNITED STATES. 3 Section 721(o) of the Defense Production Act of 4 1950 (50 U.S.C. 4565(o)) is amended— 5 (1) in paragraph (1), in the matter preceding 6 subparagraph (A), by striking ‘‘the Committee on 7 Financial Services of the House of Representatives 8 and the Committee on Banking, Housing, and 9 Urban Affairs of the Senate’’ and inserting ‘‘the 10 committees specified in paragraph (2)’’; 11 (2) by redesignating paragraph (2) as para- 12 graph (3); and 13 (3) by inserting after paragraph (1) the fol- 14 lowing: 15 ‘‘(2) COMMITTEES SPECIFIED.—The commit- 16 tees specified in this paragraph are— 17 ‘‘(A) the Committee on Banking, Housing, 18 and Urban Affairs, the Committee on Foreign 19 Relations, and the Select Committee on Intel- 20 ligence of the Senate; and 21 ‘‘(B) the Committee on Financial Services, 22 the Committee on Foreign Affairs, and the Per- 23 manent Select Committee on Intelligence of the 24 House of Representatives.’’. 25 VerDate Sep 11 2014 22:57 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S1827.IS S1827 kjohnson on DSK79L0C42PROD with BILLS 5 •S 1827 IS SEC. 4. EFFECTIVE DATE; APPLICABILITY. 1 The amendments made by this Act shall— 2 (1) take effect on the date that is 90 days after 3 the date of the enactment of this Act; and 4 (2) apply with respect to any covered trans- 5 action the review or investigation of which is initi- 6 ated under section 721 of the Defense Production 7 Act of 1950 on or after the date described in para- 8 graph (1). 9 Æ VerDate Sep 11 2014 22:57 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6301 E:\BILLS\S1827.IS S1827 kjohnson on DSK79L0C42PROD with BILLS