S.Amdt. 5880

This amendment, titled the CFIUS Modernization Act of 2026, aims to update and strengthen the authorities and processes of the Committee on Foreign Investment in the United States (CFIUS) within the Defense Production Act of 1950.

The amendment seeks to change or add the following to the bill:

• Process Updates: It removes the 5-page length limit for declarations, updates terminology regarding "urban areas," and aligns the timing for Committee actions by changing "receiving" to "accepting" for declarations and notices.

• Authority Expansions: It expands the definition of "critical technologies" to include others designated by the chairperson from the Critical and Emerging Technologies List. It also clarifies the authority to prohibit foreign persons from obtaining an interest in U.S. real estate.

• Operational Changes: It allows deadlines to be paused (tolled) during a lapse in appropriations, extends Committee appropriations through 2030, and updates confidentiality rules to allow for specific information sharing with U.S. allies and partners for national security purposes.

• New Programs:

  • It establishes a Known Investor Program, allowing foreign persons to provide information in advance to increase efficiency and potentially limit mandatory declaration requirements.
  • It creates a 2-year pilot program to collect information via short-form notifications on "greenfield investments" by foreign persons in strategic sectors, such as healthcare, energy, and critical infrastructure.