David McCormick
Senator for Pennsylvania · Republican · United States
“(d) Annual Update.--For a period of five years following submission of the final report under subsection (b), the Secretary shall submit to the congressional defense committees, as part of the annual budget justification materials submitted to Congress in support of the budget of the Department (as submitted with the budget of the Preside…”
“(5) Tactical adaptability and field-level flexibility, including-- (A) an assessment of the mechanisms within each framework reviewed that enable tactical-level operators and commanders to modify, adapt, or extend command and control functionality without depending on centralized software updates or acquisition processes, drawing on docum…”
“(6) Classification and technology transfer, including-- [[Page S3802]] (A) an assessment of the classification implications of a Department unmanned system command and control framework, including recommendations for which components may operate at unclassified levels to maximize interoperability with allied and commercial systems, and wh…”
“(e) Regulations.--In establishing the pilot program required by subsection (a), the Secretary, in consultation with the Committee, shall prescribe regulations in accordance with section 553 of title 5, United States Code, that-- (1) establish the scope of the pilot program; (2) define relevant terms, including ``greenfield investment'', a…”
“This subtitle may be cited as the ``Unmanned System Command and Control Integration Assessment Act of 2026''. SEC. __2. ASSESSMENT OF UNMANNED SYSTEM COMMAND AND CONTROL FRAMEWORKS.”
“Congressional Record, Volume 172 Issue 113 (Monday, July 13, 2026) [Congressional Record Volume 172, Number 113 (Monday, July 13, 2026)] [Senate] [Pages S3799-S3801] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6608. Mr. McCORMICK (for himself and Ms.”
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“(d) Limitation on Grant Amount.--The Secretary may not award an eligible entity a grant under this section in an amount that exceeds $5,000,000 per fiscal year. (e) Priority.--In awarding grants under this section, the Secretary shall give priority to eligible entities that the Secretary determines have demonstrated experience in delivering or researching effective treatments for mTBI. (f) Program Administration.-- (1) Applications.--An eligible entity desiring a grant under this section shall submit to the Secretary an application therefor in such form, at such time, and containing such information and assurances as the Secretary determines appropriate, including a detailed description of-- (A) proposed activities; (B) expected outcomes; and (C) plans for evaluating effectiveness.”
“(c) Use of Funds.--An eligible entity in receipt of a grant under this section shall use amounts awarded under such grant to support activities that include-- (1) designing and testing novel or integrative treatments for mTBI that prioritize patient-centered care, including non-pharmacological therapies; (2) conducting clinical studies and assessments to measure the effectiveness of approaches-- (A) to improve mental health outcomes among veterans; (B) to reduce suicidality and common risk factors for completing suicide among veterans, including depression and substance use disorders; and (C) to mitigate long-term effects of mTBI; (3) providing training for clinicians and outreach to veterans and their families to improve awareness and accessibility of innovative mTBI treatments; and (4) establishing partnerships with community organizations, academic institutions, and health care facilities of the Department of Veterans Affairs (in this section referred to as the ``Department'') to implement and evaluate best practices.”
“DEPARTMENT OF VETERANS AFFAIRS GRANT PROGRAM FOR SUPPLEMENTAL NEUROREHABILITATION APPROACHES TO CHRONIC MILD TRAUMATIC BRAIN INJURY TREATMENT. (a) In General.--The Secretary of Veterans Affairs (in this section referred to as the ``Secretary'') shall establish a grant program (to be known as the ``TBI Innovation Grant Program'') to award grants to eligible entities for the development, implementation, and evaluation of approaches and methodologies for prospective randomized control trials for neurorehabilitation treatments for chronic mild traumatic brain injury (in this section referred to as ``mTBI'') in veterans. (b) Duration.--The authority of the Secretary to carry out the grant program under this section shall terminate at the end of the three-year period beginning on the date of the enactment of this Act.”
“Congressional Record, Volume 172 Issue 103 (Thursday, June 18, 2026) [Congressional Record Volume 172, Number 103 (Thursday, June 18, 2026)] [Senate] [Pages S2964-S2965] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5874. Mr. McCORMICK (for himself and Ms. Rosen) submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place in title X, insert the following: SEC. 10__.”
“811(h)) shall be deemed permanently scheduled and subject to the requirements of schedule I of section 202(c) of that Act (21 U.S.C. 812(c)) as of the date of enactment of this Act. (3) Rule of construction.--Nothing in this subsection shall be construed to authorize the initiation of new research using 2-benzylbenzimidazole opioids, as defined in subsection (f) of schedule I of section 202(c) of the Controlled Substances Act (21 U.S.C. 812(c)), as added by paragraph (1) of this section, without proper registration and scheduling compliance. ____________________”
“``(iii) Substitution on the phenyl portion of the benzimidazole ring with a hydrogen atom, halogen, nitro, cyano, substituted or unsubstituted amide, amine, alkyl, alkoxy, aryl, or heteroaryl group. ``(iv) At the 6-position, substitution with hydrogen, nitro, trifluoromethyl, methoxy, trifluoromethoxy, cyano, and halogen groups. ``(B) A substance that exhibits agonist activity at the mu- opioid receptor. ``(C) Etonitazene, clonitazene, metonitazene, isotonitazene, protonitazene, butonitazene, etodesnitazene, flunitazene, N-pyrrolidino etonitazene, N-desethyl isotonitazene, and N-piperidinyl etonitazene.''. (2) Removal of temporary status.--Any substance included in the amendment made by paragraph (1) that was temporarily scheduled under section 201(h) of the Controlled Substances Act (21 U.S.C.”
“``(2) For purposes of paragraph (1), the term `2- benzylbenzimidazole opioid' includes the following: ``(A) A substance that is structurally related to 2- benzylbenzimidazole with the following modifications: ``(i) At the 1-position, substitution with an alkyl linker connected to a substituted amine group containing hydrogen, alkyl, alkenyl, or heteroaryl group, such as a morphilino, pyrrolidino, or piperidinyl groups, whether or not further substituted. ``(ii) At the 2-position-- ``(I) replacement of the alkyl portion of the benzyl group with a substituted or unsubstituted alkyl, alkoxy, carbamates group, nitrogen, sulfur, or oxygen atom; or ``(II) replacement of the phenyl portion of the benzyl group with an aryl or heteroaryl group.”
“(4) A class-wide permanent scheduling of 2- benzylbenzimidazole opioids is necessary to preemptively address the proliferation of new analogs, streamline enforcement, and protect public health. (5) The HALT Fentanyl Act (28 U.S.C. 801 note; Public Law 119-26) created pathways for research using schedule I controlled substances that apply to scheduled nitazenes. (c) Schedule I Classification of Nitazenes.-- (1) Amendment.--Schedule I of section 202(c) of the Controlled Substances Act (21 U.S.C. 812(c)) is amended by adding at the end the following: ``(f)(1) Unless specifically exempted or unless listed in another schedule, any material, compound, mixture, or preparation which contains any quantity of a 2- benzylbenzimidazole opioid, or which contains the salts, isomers, and salts of isomers of a 2-benzylbenzimidazole opioid.”
“(a) Short Title.--This section may be cited as the ``Nitazene Control Act''. (b) Findings.--Congress finds the following: (1) 2-Benzylbenzimidazole opioids are a class of synthetic opioids first synthesized in the 1950s that exhibit significant potency at the mu-opioid receptor, with some substances exceeding the potency of fentanyl. (2) The Drug Enforcement Administration has temporarily or permanently scheduled multiple 2-benzylbenzimidazole opioids compounds under schedule I of section 202(c) of the Controlled Substances Act (21 U.S.C. 812(c)) due to their high abuse potential and lack of accepted medical use. (3) Nitazenes and related compounds have emerged in the illicit drug supply as designer drugs and contribute to overdose and fatal poisonings in the United States.”
“Congressional Record, Volume 172 Issue 103 (Thursday, June 18, 2026) [Congressional Record Volume 172, Number 103 (Thursday, June 18, 2026)] [Senate] [Page S2973] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5886. Mr. McCORMICK (for himself, Mr. Ricketts, and Mrs. Shaheen) submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. NITAZINE CONTROL ACT.”
“Not later than 180 days after the date of enactment of this Act, the Secretary of Defense shall consult with the Commodity Futures Trading Commission regarding the proposed rule submitted of the Commission entitled ``Prediction Markets; Public Interest Determinations'' (91 Fed. Reg. 35806 (June 12, 2026)), or a subsequent final rulemaking, in relation to the following factors: (1) The factors to define war, terrorism, and assassination. (2) The factors in determining whether event contracts involve war, terrorism, or assassination. (3) The factors that raise public interest concerns. ______”
“Congressional Record, Volume 172 Issue 103 (Thursday, June 18, 2026) [Congressional Record Volume 172, Number 103 (Thursday, June 18, 2026)] [Senate] [Pages S2971-S2972] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5881. Mr. McCORMICK submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, [[Page S2972]] and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the end of subtitle G of title X, add the following: SEC. 1___. SECRETARY OF DEFENSE CONSULTATION REGARDING PREDICTION MARKETS.”
“(h) Definitions.--In this section: (1) Covered transaction.--The term ``covered transaction'' has the meaning given that term in section 721(a) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)). (2) Greenfield investment.--The term ``greenfield investment'' has the meaning given that term in regulations prescribed under subsection (f). (3) Secretary.--The term ``Secretary'' means the Secretary of the Treasury, as the chairperson of the Committee on Foreign Investment in the United States. (4) Strategic sector.--The term ``strategic sector'' means-- (A) the technology, critical infrastructure, healthcare, agriculture, energy, and raw materials sectors; and (B) such other sectors as are determined to be strategic in regulations prescribed under subsection (e). ______”
“(2) Form.--The report required by paragraph (1) shall be submitted in unclassified form, but may include a classified annex. (g) Rule of Construction.--Nothing in this section may be construed to impair or otherwise affect the authority of the President to pursue any authorization, process, regulation, investigation, prohibition, enforcement measure, or review provided by or established under any other provision of Federal law, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), section 721 of the Defense Production Act of 1950 (50 U.S.C. 4565), or any other authority of the President or Congress under the Constitution of the United States, to protect the national security of the United States.”
“(f) Report to Congress.-- (1) In general.--After the termination under subsection (b) of the pilot program required by subsection (a), the Secretary, in consultation with the Committee, shall submit to the members of Congress specified in section 721(b)(3)(C)(iii) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(3)(C)(iii)) a report that includes-- (A) an assessment of the information on greenfield investment in the United States by foreign persons in strategic sectors collected under the pilot program; and (B) an analysis of-- (i) the extent to which existing authorities address the national security risks, if any, that could arise from greenfield investment described in subparagraph (A); and (ii) whether the establishment or expansion of other Federal programs should be undertaken to address any such risks.”
“(e) Regulations.--In establishing the pilot program required by subsection (a), the Secretary, in consultation with the Committee, shall prescribe regulations in accordance with section 553 of title 5, United States Code, that-- (1) establish the scope of the pilot program; (2) define relevant terms, including ``greenfield investment'', and add sectors to the definition of ``strategic sector'', as the Secretary considers appropriate; (3) identify the information required to be included in a notification submitted under the pilot program; (4) include a process by which the Committee may identify a greenfield investment in the United States by a foreign person in a strategic sector for which a notification is not submitted; and (5) provide for the imposition of civil penalties for any violation of the requirement to submit notifications under the pilot program.”
“(d) Exemption From Disclosure.--Except as provided in regulations prescribed under subsection (e), any information or documentary material filed with the Secretary or a designee of the Secretary under the pilot program required by subsection (a) shall be exempt from disclosure under section 552(b)(3) of title 5, United States Code, and no such information or documentary material may be made public.”
“(c) Treatment of Investments That Are Not Covered Transactions.--In the case of a greenfield investment that is not a covered transaction and with respect to which a notification is submitted under the pilot program required by subsection (a), the Committee-- (1) shall not review the investment under section 721(b) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)) as if it were a covered transaction; and (2) shall use the notification only to collect information on greenfield investment in the United States.”
“(a) In General.--The Secretary shall establish a pilot program to require the submission to the Committee on Foreign Investment in the United States of a short-form written notification of any greenfield investment in the United States by a foreign person in a strategic sector for the purpose of collecting information on such investment. (b) Duration of Pilot Program.--The pilot program required by subsection (a) shall terminate on the date that is 2 years after the date of the enactment of this Act.”
“(b) Regulations.--The Committee on Foreign Investment in the United States shall prescribe such regulations as are necessary to implement the Known Investor Program under subsection (r) of section 721 of the Defense Production Act of 1950, as added by subsection (a), including regulations-- (1) providing for the application of the requirements of subsection (c) of such section 721 with respect to information provided to the Committee under the Program; and (2) expressly providing for the application of section 1001 of title 18, United States Code, to all information provided to the Committee under the Program, in accordance with subsection (n)(3) of such section 721. SEC. 1704. PILOT PROGRAM TO COLLECT INFORMATION ON GREENFIELD INVESTMENTS BY FOREIGN PERSONS IN STRATEGIC SECTORS.”
“``(3) Fees.-- ``(A) In general.--The Committee may assess and collect, from each foreign person considered under the Known Investor Program, a fee to be deposited into the Committee on Foreign Investment in the United States Fund established under subsection (p). ``(B) Terms and conditions.--A fee assessed and collected under subparagraph (A) shall be subject to the same terms and conditions as a fee assessed and collected under subsection (p)(3). ``(4) Cooperation of other agencies.--Upon request from the chairperson, the head of a Federal agency shall provide support and cooperation to the chairperson to carry out the Known Investor Program.''.”
“``(2) Implementation authorities.--In carrying out the Known Investor Program, the chairperson may-- ``(A) identify the information required for the Committee to consider a foreign person under the Known Investor Program; ``(B) require certification and assurance for the information provided in advance of filing a notice or declaration, consistent with subsection (n); ``(C) allocate personnel and resources to support the Known Investor Program; and ``(D) make such adjustments to the requirements or process for filing notices and declarations as the chairperson considers appropriate.”
“4565) is amended by adding at the end the following: ``(r) Known Investor Program.-- ``(1) In general.--The chairperson may establish a program, to be known as the `Known Investor Program', under which-- ``(A) a foreign person may voluntarily provide information to the Committee in advance of filing a notice under clause (i) of subsection (b)(1)(C) or a declaration under clause (v) of that subsection with respect to a transaction; and ``(B) the Committee may, for foreign persons that have provided information under subparagraph (A)-- ``(i) limit the applicability of the requirement to submit a mandatory declaration under subsection (b)(1)(C)(v)(IV); and ``(ii) increase efficiencies in the process of submitting notices and declarations.”
“4565(l)(3)(A)(iii)) is amended-- (1) in the clause heading, by striking ``Agreements and conditions relating to completed transactions'' and inserting ``Interim measures''; and (2) by striking ``completed covered transaction'' and inserting ``proposed, pending, or completed covered transaction''. (m) Appropriations for Committee.--Section 721(p)(2) of the Defense Production Act of 1950 (50 U.S.C. 4565(p)(2)) is amended by striking ``through 2023'' and inserting ``through 2030''. SEC. 1703. KNOWN INVESTOR PROGRAM. (a) In General.--Section 721 of the Defense Production Act of 1950 ( 50 U.S.C.”
“(j) Clarification of Authority to Prohibit Real Estate Transactions.--Section 721(d)(4)(A) of the Defense Production Act of 1950 (50 U.S.C. 4565(d)(4)(A)) is amended by inserting ``or obtain an interest in real estate in the United States'' after ``a United States business or its assets''. (k) Technical Corrections.--Section 721 of the Defense Production Act of 1950 (50 U.S.C. 4565) is amended-- (1) in subsection (b)(1)(C)(v)(IV)(gg), by striking ``subsection (h)(3)'' and inserting ``subsection (h)(2)''; and (2) in subsection (l)(6)(D), by striking ``subsection (h)(3)'' and inserting ``subsection (h)(2)''. (l) Interim Measures for Proposed, Pending, or Completed Covered Transactions.--Section 721(l)(3)(A)(iii) of the Defense Production Act of 1950 (50 U.S.C.”
“4565(c)) is amended-- (1) in paragraph (2)-- (A) in subparagraph (A), by inserting ``domestic or foreign'' before ``administrative''; (B) in subparagraph (C), by striking ``, or to any foreign governmental entity of a United States ally or partner,'' ; [[Page S2971]] (C) by redesignating subparagraph (D) as subparagraph (E); and (D) by inserting after subparagraph (C), the following: ``(D) Information important to the national security analysis or actions of the Committee or any foreign governmental entity of a United States ally or partner, to such ally or partner, under the exclusive direction and authorization of the chairperson, only to the extent necessary for national security purposes, and subject to appropriate confidentiality and classification requirements.''; and (E) by inserting after subparagraph (E) the following: ``(F) Information describing the outcome of a concluded enforcement action (including any final or settled penalty) under this section, including the identity of any party to, and a description of the circumstances that resulted in, such action, when disclosed by the chairperson.''; and (2) in paragraph (3)(A), by striking ``paragraph (2)(C)'' and inserting ``paragraph (2)(D)''.”
“4565(b)) is amended by striking paragraph (8) and inserting the following: ``(8) Tolling of deadlines during lapse in appropriations.--Any deadline or time limitation imposed on the Committee or to which the Committee is subject under this section, regulations implementing this section, or any agreement or condition entered into or imposed under this section, shall be tolled during a lapse in appropriations.''. (i) Revision of Confidentiality Requirements to Enhance Cooperation on National Security With Allies and Partners of the United States and Authorize Disclosure of Enforcement Information.--Section 721(c) of the Defense Production Act of 1950 (50 U.S.C.”
“(g) Determination Regarding Investigations for Foreign Government-controlled Transactions.--Section 721(b)(2)(D)(ii) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(2)(D)(ii)) is amended by striking ``to any person'' and all that follows and inserting ``below the level of the Assistant Secretary of the Treasury or an equivalent official of the lead agency, respectively.''. (h) Modification of Tolling of Deadlines During a Lapse in Appropriations.--Section 721(b) of the Defense Production Act of 1950 (50 U.S.C.”
“4565(b)(1)(C)(v)(III)(bb)) is amended by striking ``receiving'' and inserting ``accepting''. (e) Authorization to Require Mandatory Declarations for Critical Infrastructure Transactions.--Section 721(b)(1)(C)(v)(IV)(cc) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(1)(C)(v)(IV)(cc)) is amended by striking ``subsection (a)(4)(B)(iii)(II)'' and inserting ``subclause (I) or (II) of subsection (a)(4)(B)(iii)''. (f) Stipulations Regarding Non-notified or Non-declared Transactions.--Section 721(b)(1)(C)(vi)(I) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(1)(C)(vi)(I)) is amended, in the matter preceding item (aa), by inserting ``, or in connection with a non-notified or non-declared transaction identified under subparagraph (H)'' after ``with respect to a transaction''.”
“4565(a)(6)(A) is amended by adding at the end the following: ``(vii) Other technologies designated by the chairperson, in consultation with the Director of the Office of Science and Technology Policy and other members of the Committee, from the areas identified on the Critical and Emerging Technologies List published by the National Science and Technology Council.''. (c) Removal of 5-page Limitation for Declarations.--Section 721(b)(1)(C)(v)(II) of the Defense Production Act of 1950 (50 U.S.C. 4565(b)(1)(C)(v)(II)) is amended by striking ``that would not generally exceed 5 pages in length''. (d) Alignment of Timing of Committee Action With Respect to Declarations and Notices.--Section 721(b)(1)(C)(v)(III)(bb) of the Defense Production Act of 1950 (50 U.S.C.”
“This subtitle may be cited as the ``CFIUS Modernization Act of 2026''. SEC. 1702. STRENGTHENING AUTHORITIES AND PROCESSES OF COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES. (a) Revision of Term ``Urbanized Areas''.--Section 721(a)(4)(C)(i)(II) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4)(C)(i)(II)) is amended by striking ``real estate in `urbanized areas' '' and inserting ``real estate in an `urban area' or any equivalent term or terms''. (b) Amendment to the Definition of ``Critical Technologies''.--Section 721(a)(6)(A) of the Defense Production Act of 1950 (50 U.S.C.”
“Congressional Record, Volume 172 Issue 103 (Thursday, June 18, 2026) [Congressional Record Volume 172, Number 103 (Thursday, June 18, 2026)] [Senate] [Pages S2970-S2971] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5880. Mr. McCORMICK (for himself and Mr. Hagerty) submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the end of division A, add the following: TITLE XVII--COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES SEC. 1701. SHORT TITLE.”
“(a) Termination Date.--Section 108(a) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking ``2027'' and inserting ``2034''. (b) Timing of Mandatory Recoupment.--Section 103(e)(7)(E)(i) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended-- (1) in subclause (I)-- (A) by striking ``2022'' and inserting ``2029''; and (B) by striking ``2024'' and inserting ``2031''; (2) in subclause (II)-- (A) by striking ``2023'' and inserting ``2030''; (B) by striking ``2029'' and inserting ``2036''; and (C) by striking ``2024'' and inserting ``2031''; and (3) in subclause (III)-- (A) by striking ``2029'' and inserting ``2036''; and (B) by striking ``2024'' and inserting ``2031''. ______”
“Congressional Record, Volume 172 Issue 103 (Thursday, June 18, 2026) [Congressional Record Volume 172, Number 103 (Thursday, June 18, 2026)] [Senate] [Page S2970] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5879. Mr. McCORMICK (for himself, Ms. Smith, Mr. Tillis, and Mr. Gallego) submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. 7-YEAR EXTENSION OF TERRORISM RISK INSURANCE PROGRAM.”
“(6) Medical device.--The term ``medical device'' has the meaning given the term ``device'' in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321). (7) Medicine.--The term ``medicine'' has the meaning given the term ``drug'' in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321). (8) United states person.--The term ``United States person'' means-- (A) a United States citizen or an alien lawfully admitted for permanent residence to the United States; (B) an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity; or (C) any person located in the United States. ______”
“(2) Appropriate congressional committees.--The term ``appropriate congressional committees'' means-- (A) the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate; and (B) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives. (3) Defense article.--The term ``defense article'' has the meaning given that term in section 47 of the Arms Export Control Act (22 U.S.C. 2794). (4) Foreign person.--The term ``foreign person'' means an individual or entity that is not a United States person. (5) Knowingly.--The term ``knowingly'', with respect to conduct, a circumstance, or a result, means that a person had actual knowledge, or should have known, of the conduct, the circumstance, or the result.”
“(2) Good.--In this subsection, the term ``good'' means any article, natural or manmade substance, material, supply, or manufactured product, including inspection and test equipment, and excluding technical data. (g) Sunset.--The provisions of this section, and any sanctions imposed under this section, shall terminate on the date that is 5 years after the date of the enactment of this Act. (h) Definitions.--In this section: (1) Agricultural commodity.--The term ``agricultural commodity'' has the meaning given such term in section 102 of the Agricultural Trade Act of 1978 (7 U.S.C. 5602).”
“(e) Rulemaking.-- (1) In general.--The President may prescribe such regulations as may be necessary to carry out this section (which may include regulatory exceptions), including under section 205 of the International Emergency Economic Powers Act (50 U.S.C. 1704). (2) Rule of construction.--Nothing in this section may be construed to limit the authority of the President pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.). (f) Exception Relating to Importation of Goods.-- (1) In general.--A requirement to block and prohibit all transactions in all property and interests in property under this section shall not include the authority or a requirement to impose sanctions on the importation of goods.”
“(d) Implementation; Penalties.-- (1) Implementation.--The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this section. (2) Penalties.--The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) shall apply to any person that violates, attempts to violate, conspires to violate, or causes a violation of any prohibition under this section, or any order or regulation prescribed under this section, to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of such Act (50 U.S.C. 1705(a)).”
“(D) Temporary port-specific exceptions.-- (i) In general.--During the period beginning on the date of the enactment of this Act [[Page S2970]] and ending on the date that is 270 days after such date of enactment, the President may apply an exception to the application of sanctions under subsection (a) for the purchase or the importation into any country of crude oil or petroleum products of Russian Federation exported from specific Russian Federation ports if the President submits to the appropriate congressional committees a report providing a justification for the exception. (ii) Limitation.--An exception applied under clause (i) may not cover, at any time, ports that are estimated to have cumulatively accounted for more than half of the oil export capacity of the Russian Federation in 2025.”
“(ii) Renewal required.--The authority to apply the exception under clause (i) with respect to a country shall expire if the President does not certify, not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, that the government of the country is providing significant economic, humanitarian, or military support to the Government of Ukraine.”
“(III) Joint resolution of disapproval.--No funds may be transferred or expended pursuant to this clause if, within 15 days of receipt of the notification under subclause (I), a joint resolution is enacted into law prohibiting such transfer. (C) Exception for countries supporting ukraine.-- (i) In general.--The President may apply an exception to the application of sanctions under subsection (a) with respect to the purchase or importation into any country of crude oil or petroleum products of Russian Federation origin if the President determines and certifies in writing to the appropriate congressional committees that the government of that country is providing significant economic, humanitarian, or military support to the Government of Ukraine.”
“(bb) Elements.--A notification under item (aa) shall specify-- (AA) the amount of funds to be transferred or expended; (BB) the specific purpose for which the funds are transferred or expended; and (CC) the recipient of those funds. (II) Certification of transparency and accountability.--No funds may be transferred or otherwise expended from an account established as described in clause (i) unless the President submits to the appropriate congressional committees in writing a certification that a plan exists to ensure transparency and accountability for all funds transferred into and expended from any account receiving the funds.”
“(II) Timely disbursement.--A significant proportion of funds in an account established as described in clause (i) shall be disbursed not less frequently than every 90 days for the purposes described in subclause (I). (iv) Limitations on transfers and expenditures of funds.-- (I) Notification of transfers.-- (aa) In general.--The Secretary of State shall notify the appropriate congressional committees not fewer than 15 days before transferring any funds from an account established as described in clause (i) to any other account for the purposes described in clause (iii) or otherwise expending any of such funds for such purposes.”
“(ii) Guidance.--The President may issue guidance and develop implementation tools that assist private sector entities in verifying that the payments described in clause (i) corresponding to specific purchases have been deposited in the account described in that clause. (iii) Use of funds.-- (I) In general.--The funds in an account established as described in clause (i) shall be available only for-- (aa) the purposes specified in section 104(f) of the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (division F of Public Law 118-50; 22 U.S.C. 9521 note); and (bb) funding the purchase by the Government of Ukraine of defense articles for Ukraine to employ in response to Russian Federation aggression.”
“(B) Exception for deposits into account to support ukraine.-- (i) In general.--The President may apply an exception to the application of sanctions under subsection (a) with respect to the purchase or importation into a country of crude oil or petroleum products of Russian Federation origin if a payment per barrel of such crude oil or petroleum products has been deposited into an account that the President has established for the benefit of Ukraine (which may include an account established under section 104 of the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (division F of Public Law 118-50; 22 U.S.C. 9521 note)).”
“(iii) Sanctions for misuse of account.--Any foreign person responsible for or complicit in, or that has directly or indirectly engaged or attempted to engage in, transactions reliant on the funds in an account described in clause (i)(I) for any purpose other than to facilitate transactions in agricultural commodities, food, medicine, or medical devices between the Russian Federation and the country in which the account is located shall be subject to the sanctions described in subsection (b).”
“(ii) Renewal required.--The authority to apply the exception under clause (i) shall expire if the President does not certify, not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, that-- (I) the country has significantly reduced its volume of purchases of crude oil and petroleum products of Russian Federation origin during the preceding 180-day period; or (II) the price and supply of crude oil and petroleum products produced in countries other than the Russian Federation is not sufficient to permit purchasers of crude oil and petroleum products of Russian Federation origin to reduce significantly in volume their purchases from the Russian Federation.”
“(2) Exceptions described.-- (A) Exception for countries that isolate russian funds and reduce purchases.-- (i) In general.--The President may apply an exception to the application of sanctions under subsection (a) with respect to the purchase or importation into a country of crude oil or petroleum products of Russian Federation origin if the President determines that-- (I) any funds owed by the government of that country or persons of that country to the Russian Federation or to the sellers of crude oil or petroleum products of Russian Federation origin as a result of the purchase or importation will be-- (aa) credited to an account located in that country; and (bb) used only to facilitate transactions in agricultural commodities, food, medicine, or medical devices between the Russian Federation and the country; and (II) the government of the country has committed to significantly reduce its purchases of crude oil and petroleum products of Russian Federation origin.”
“(b) Sanctions Described.--The sanctions described in this subsection are the exercise all of the powers granted to the President by the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of a foreign person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person. (c) Permissible Exception Frameworks.-- (1) In general.--The President may apply not more than 2 of the types of exceptions described in paragraph (2) with respect to the application of sanctions under subsection (a).”