50 U.S.C. § 4535 | Reports on exercise of authorities

(a)

In general

The President, or the head of an agency to which the President has delegated authorities under this subchapter, shall submit a report and provide a briefing to the appropriate congressional committees with respect to any action taken pursuant to such authorities—

(1)

except as provided by paragraph (2), not later than 30 days after taking the action; and

(2)

in the case of an action that involves a business concern in the United Kingdom or Australia, not later than 30 days before taking the action.

(b)

Elements

(1)

In general

Each report and briefing required by subsection (a) with respect to an action described in that subsection shall include—

(A)

a justification of the necessity of the use of authorities under this subchapter; and

(B)

a description of the financial terms of any related financial transaction.

(2)

Additional elements relating to business concerns in the United Kingdom or Australia

Each report and briefing required by subsection (a) with respect to an action described in paragraph (2) of that subsection shall include, in addition to the elements under paragraph (1)—

(A)

a certification that business concerns in the United States or Canada were not available with respect to the action; and

(B)

an analysis of why such business concerns were not available.

(c)

Appropriate congressional committees defined

In this section, the term “appropriate congressional committees” means—

(1)

the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives; and

(2)

section 4552(7)(B)(ii)(II)(bb) of this title in the case of an action described in subsection (a) involving materials critical to national security (as defined in ), the Committee on Energy and Natural Resources of the Senate and the Committee on Natural Resources of the House of Representatives.

Sept. 8, 1950, ch. 932 Pub. L. 118–31, div. A, title X, § 1080(b)Dec. 22, 2023137 Stat. 416 (, title III, § 305, as added , , .)

Editorial Notes

Prior Provisions

act Sept. 8, 1950, ch. 932 Pub. L. 111–67Prior sections 305 to 310 of , were omitted in the general amendment of title III of the Act by .

act Sept. 8, 1950, ch. 932, title III Pub. L. 96–294, title I, § 104(e)June 30, 198094 Stat. 619 Pub. L. 107–314, div. A, title X, § 1062oDec. 2, 2002116 Stat. 2653 Section 305, , as added , , ; amended ()(3), , , related to synthetic fuel production.

act Sept. 8, 1950, ch. 932, title III Pub. L. 96–294, title I, § 104(e)June 30, 198094 Stat. 623 Pub. L. 107–314, div. A, title X, § 1062oDec. 2, 2002116 Stat. 2653 Section 306, , as added , , ; amended ()(3), , , related to synthetic fuel production subsequent to determinations respecting a national energy supply shortage of defense fuels.

act Sept. 8, 1950, ch. 932, title III Pub. L. 96–294, title I, § 104(e)June 30, 198094 Stat. 628 Pub. L. 102–558, title I, § 151Oct. 28, 1992106 Stat. 4218 Section 307, , as added , , ; amended , , , related to synthetic fuel action.

act Sept. 8, 1950, ch. 932, title III Pub. L. 96–294, title I, § 104(e)June 30, 198094 Stat. 631 Section 308, , as added , , , related to definitions of “Government synthetic fuel project”, “synthetic fuel”, “synthetic fuel project”, and “United States”.

act Sept. 8, 1950, ch. 932, title III Pub. L. 98–265, § 6Apr. 17, 198498 Stat. 152 Pub. L. 99–441, § 4Oct. 3, 1986100 Stat. 1117 Pub. L. 102–558, title I, § 124Oct. 28, 1992106 Stat. 4207 Pub. L. 107–47, § 4(5)Oct. 5, 2001115 Stat. 260 section 4568 of this titleSection 309, , as added , , ; amended , , ; , , ; , , , related to annual report on impact of offsets. See .

act Sept. 8, 1950, ch. 932, title III Pub. L. 102–558, title I, § 125Oct. 28, 1992106 Stat. 4208 Section 310, , as added , , , related to civil-military integration.