H.R. 8258: Strategic Assets Protection Act

This bill, known as the Strategic Assets Protection Act, aims to enhance the review process for certain transactions that may affect the national security of the United States. Below are the main components of the bill:

Transaction Review Mandate

The bill mandates the Committee on Foreign Investment in the United States (CFIUS) to review all transactions completed since January 1, 2017. These transactions specifically involve:

• Real estate
• Businesses
• Critical infrastructure
• Assets located within, adjacent to, or functionally supporting facilities related to the U.S. nuclear triad. This includes:
• Intercontinental ballistic missile facilities
• Ballistic missile submarine bases and shipyards
• Strategic bomber bases
• Associated weapons storage areas
• Nuclear command, control, and communications infrastructure
• National Nuclear Security Administration production or research facilities

Assessment of Risk

As part of the review, CFIUS is required to assess whether any of these transactions pose a risk to U.S. national security. This includes evaluating the necessity for:

• Mitigation measures to address identified risks
• Reopening the review of transactions if new information arises
• Making recommendations to the President for appropriate actions under section 721(d) of the Defense Production Act of 1950

Reporting Requirements

The Secretary of the Treasury is tasked with submitting a classified report to various congressional committees within 180 days of the bill's enactment. This report will detail the findings of the review and any actions that have been taken or are recommended. Additionally, an unclassified summary of the report should be provided where possible.

Purpose

The purpose of this legislation is to strengthen the oversight and review of transactions that could potentially affect critical national security assets, particularly ones associated with the U.S. nuclear infrastructure.

Relevant Companies

• None found