Bill Text: TX SB2142 | 2023-2024 | 88th Legislature | Engrossed
Bill Title: Relating to requiring the attorney general to establish a process to identify and report certain foreign-related transactions in this state to the Committee on Foreign Investment in the United States.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2023-05-06 - Referred to State Affairs [SB2142 Detail]
Download: Texas-2023-SB2142-Engrossed.html
| By: Parker | S.B. No. 2142 | |
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| relating to requiring the attorney general to establish a process | ||
| to identify and report certain foreign-related transactions in this | ||
| state to the Committee on Foreign Investment in the United States. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 402, Government Code, is | ||
| amended by adding Section 402.040 to read as follows: | ||
| Sec. 402.040. REPORTING NON-NOTIFIED FOREIGN TRANSACTIONS. | ||
| (a) In this section, "non-notified transactions" means foreign | ||
| investments in the United States that are not voluntarily submitted | ||
| to the Committee on Foreign Investment in the United States for | ||
| review under 50 U.S.C. Section 4565. | ||
| (b) The office of the attorney general shall establish a | ||
| process by which local officials, state officials, or other persons | ||
| may submit to the office information or concerns regarding | ||
| non-notified transactions in this state. The office of the | ||
| attorney general may adopt any necessary rules to implement this | ||
| subsection. | ||
| (c) The attorney general may submit a memorandum or report | ||
| concerning non-notified transactions the office of the attorney | ||
| general has identified in this state to the Committee on Foreign | ||
| Investment in the United States. | ||
| (d) The office of the attorney general shall: | ||
| (1) retain a copy of any documents submitted to the | ||
| committee described by Subsection (c) that are included with a | ||
| memorandum or report submitted under that subsection; and | ||
| (2) notify the legislature and the governor as soon as | ||
| practicable after submitting a memorandum, report, or other | ||
| information under Subsection (c). | ||
| SECTION 2. This Act takes effect September 1, 2023. | ||
