New Bill Would Direct CFIUS to Respond to State Queries
Sen. Kevin Cramer, R-N.D., introduced a bill Feb. 8 that would require the Committee on Foreign Investment in the U.S. to respond to a state governor who asks whether a proposed transaction would trigger a CFIUS review.
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The legislation was referred to the Senate Banking Committee. Further details on the bill, including the text, were not immediately available.
CFIUS faced criticism from members of Congress when it declined to stop China-based Fufeng Group from building a corn milling plant near the Grand Forks Air Force Base in North Dakota (see 2212150035 and 2302070028). The Grand Forks City Council ultimately blocked the project in 2023 after the U.S. Air Force raised national security concerns about the proposed facility.