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Home Source documents Congressional Record, Senate, July 21, 2022: Page S3615

Congressional Record, Senate, July 21, 2022: Page S3615

Summary

Page S3615 of the Senate section of the Congressional Record for July 21, 2022, in interleaved columns. A list of submitted amendments to H.R. 4346, making appropriations for Legislative Branch for the fiscal year ending September 30, 2022, includes SA 5144 from Mr. Hagerty and others, intended to be proposed to SA 5135 proposed by Mr. Schumer, and SA 5154 from Mrs. Capito and others. Amendment text addresses the terms under which the Secretary of Commerce may award Federal financial assistance to a covered entity, including the Secretary of the Treasury receiving a warrant or equity interest. The Senate then adjourned at 4:21 p.m. until Monday, July 25, 2022, at 3 p.m.

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“Congressional Record, Senate, July 21, 2022: Page S3615.” Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/crec-crec-2022-07-21-crec-2022-07-21-pt1-pgs3615-4da9660a18/, SHA-256 e5f4b0b7d4becde9d3f261cd33eab1694e3714b485e4d4969a6288ed7d915503.

Full text

                                               July 21, 2022                                     CONGRESSIONAL RECORD — SENATE                                                                     S3615
                                               4346, making appropriations for Legislative                (iii) abrogate existing collective bar-                ‘‘(i)(I) the taxpayer has issued securities
                                               Branch for the fiscal year ending September              gaining agreements; and                                that are traded on a national securities ex-
                                               30, 2022, and for other purposes; which was                (B) the covered entity will remain neutral           change; and
                                               ordered to lie on the table.                             in any union organizing effort.                          ‘‘(II) the Secretary of the Treasury re-
                                                 SA 5154. Mrs. CAPITO (for herself, Mr.                   (2) FINANCIAL PROTECTION OF GOVERN-                  ceives a warrant or equity interest in the
                                               WICKER, Mr. TILLIS, and Mr. CORNYN) sub-                 MENT.—                                                 covered entity; or
                                               mitted an amendment intended to be pro-                    (A) IN GENERAL.—The Secretary of Com-                  ‘‘(ii) in the case of taxpayer other than a
                                               posed to amendment SA 5135 proposed by Mr.               merce may not award Federal financial as-              taxpayer described in subparagraph (A), the
                                               SCHUMER to the bill H.R. 4346, supra; which              sistance to a covered entity under section             Secretary receives, in the discretion of the
                                               was ordered to lie on the table.                         9902 of the William M. (Mac) Thornberry Na-            Secretary—
                                                 SA 5155. Mr. RUBIO submitted an amend-                 tional Defense Authorization Act for Fiscal              ‘‘(I) a warrant or equity interest in the
                                               ment intended to be proposed to amendment                Year 2021 (15 U.S.C. 4652) or under section 102        taxpayer; or
                                               SA 5135 proposed by Mr. SCHUMER to the bill              or 103 of this Act with amounts appropriated             ‘‘(II) a senior debt instrument issued by
                                               H.R. 4346, supra; which was ordered to lie on            under this Act, unless—                                the taxpayer.
                                               the table.                                                 (i)(I) the covered entity has issued securi-           ‘‘(B) TERMS AND CONDITIONS.—The terms
                                                 SA 5156. Mr. RUBIO submitted an amend-                 ties that are traded on a national securities          and conditions of any warrant, equity inter-
                                               ment intended to be proposed by him to the               exchange; and                                          est, or senior debt instrument received under
                                               bill H.R. 4346, supra; which was ordered to lie            (II) the Secretary of the Treasury receives          subparagraph (A) shall be set by the Sec-
                                               on the table.                                            a warrant or equity interest in the covered            retary, in consultation with the Secretary of
                                                 SA 5157. Mr. RUBIO submitted an amend-                 entity; or                                             Commerce, and shall meet the following re-
                                               ment intended to be proposed by him to the                 (ii) in the case of any covered entity other         quirements:
                                               bill H.R. 4346, supra; which was ordered to lie          than a covered entity described in clause (i),           ‘‘(i) PURPOSES.—Such terms and conditions
                                               on the table.                                            the Secretary of the Treasury receives, in             shall be designed to provide for a reasonable
                                                                f                                       the discretion of the Secretary of the Treas-          participation by the Secretary, for the ben-
                                                                                                        ury—                                                   efit of taxpayers, in equity appreciation in
                                                      TEXT OF AMENDMENTS                                  (I) a warrant or equity interest in the cov-         the case of a warrant or other equity inter-
                                                 SA 5144. Mr. HAGERTY (for himself,                     ered entity; or                                        est, or a reasonable interest rate premium,
                                               Mr. KING, Mr. CORNYN, Mr. WICKER, Mr.                      (II) a senior debt instrument issued by the          in the case of a debt instrument.
                                                                                                        covered entity.                                          ‘‘(ii) AUTHORITY TO SELL, EXERCISE, OR SUR-
                                               YOUNG, Ms. SINEMA, and Mr. KELLY)                          (B) TERMS AND CONDITIONS.—The terms and              RENDER.—For the primary benefit of tax-
                                               submitted an amendment intended to                       conditions of any warrant, equity interest,            payers, the Secretary may sell, exercise, or
                                               be proposed to amendment SA 5135 pro-                    or senior debt instrument received under               surrender a warrant or any senior debt in-
                                               posed by Mr. SCHUMER to the bill H.R.                    subparagraph (A) shall be set by the Sec-              strument received under this clause. The
                                               4346, making appropriations for Legis-                   retary of Commerce and shall meet the fol-             Secretary shall not exercise voting power
                                               lative Branch for the fiscal year ending                 lowing requirements:                                   with respect to any shares of common stock
                                               September 30, 2022, and for other pur-                     (i) PURPOSES.—Such terms and conditions              acquired under this subparagraph.
                                               poses; which was ordered to lie on the                   shall be designed to provide for a reasonable            ‘‘(iii) SUFFICIENCY.—If the Secretary deter-
                                                                                                        participation by the Secretary of Commerce,            mines that a taxpayer cannot feasibly issue
                                               table; as follows:                                       for the benefit of taxpayers, in equity appre-         warrants or other equity interests as re-
                                                 At the end of division A, add the following:           ciation in the case of a warrant or other eq-          quired by this paragraph, the Secretary may
                                               SEC. 10lll. FEDERAL PERMITTING IMPROVE-                  uity interest, or a reasonable interest rate           accept a senior debt instrument in an
                                                         MENT.                                          premium, in the case of a debt instrument.             amount and on such terms as the Secretary
                                                 Section 41001(6)(A) of the FAST Act (42                  (ii) AUTHORITY TO SELL, EXERCISE, OR SUR-            determines appropriate.’’.
                                               U.S.C. 4370m(6)(A)) is amended, in the matter            RENDER.—For the primary benefit of tax-                  (2) RECAPTURE OF CREDIT IN CERTAIN
                                               preceding clause (i), by inserting ‘‘semi-               payers, the Secretary of Commerce may sell,            CASES.—
                                               conductors, artificial intelligence and ma-              exercise, or surrender a warrant or any sen-             (A) IN GENERAL.—Section 50(a) of the Inter-
                                               chine learning, high-performance computing               ior debt instrument received under this para-          nal Revenue Code of 1986, as amended by this
                                               and advanced computer hardware and soft-                 graph. The Secretary of Commerce shall not             Act, is amended redesignating paragraphs (4)
                                               ware, quantum information science and tech-              exercise voting power with respect to any              through (6) as paragraphs (5) through (7), re-
                                               nology, data storage and data management,                shares of common stock acquired under this             spectively, and by inserting after paragraph
                                               cybersecurity,’’ after ‘‘manufacturing,’’.               paragraph.                                             (3) the following new paragraph:
                                                                     ---                                  (iii) SUFFICIENCY.—If the Secretary of Com-            ‘‘(4) CERTAIN REQUIREMENTS FOR ADVANCED
                                                 SA 5145. Mr. SANDERS (for himself                      merce determines that a covered entity can-            MANUFACTURING FACILITIES.—If there is a pro-
                                               and Ms. WARREN) submitted an amend-                      not feasibly issue warrants or other equity            hibited activity by an applicable taxpayer
                                               ment intended to be proposed to                          interests as required by this paragraph, the           before the close of the 5-year period begin-
                                               amendment SA 5135 proposed by Mr.                        Secretary of Commerce may accept a senior              ning on the date such taxpayer placed in
                                               SCHUMER to the bill H.R. 4346, making                    debt instrument in an amount and on such               service investment credit property which is
                                                                                                        terms as the Secretary of Commerce deter-              eligible for the advanced manufacturing in-
                                               appropriations for Legislative Branch                    mines appropriate.
                                               for the fiscal year ending September 30,                                                                        vestment credit under section 48D(a), then
                                                                                                          (b) APPLICATION TO ADVANCED MANUFAC-                 the tax under this chapter for the taxable
                                               2022, and for other purposes; which was                  TURING INVESTMENT CREDIT.—                             year in which such transaction occurs shall
                                               ordered to lie on the table; as follows:                   (1) FINANCIAL PROTECTION OF GOVERN-                  be increased by 100 percent of the aggregate
                                                 At the end of division A, add the following:           MENT.—Subsection (c) of section 48D of the             decrease in the credits allowed under section
                                               SEC. 108. TERMS AND CONDITIONS OF ASSIST-                Internal Revenue Code of 1986 (as added by             38 for all prior taxable years which would
                                                           ANCE.                                        this Act) is amended to read as follows:               have resulted solely from reducing to zero
                                                 (a) CHIPS ASSISTANCE.—                                   ‘‘(c) ELIGIBLE TAXPAYER.—                            any credit determined under section 46 which
                                                 (1) REQUIRED AGREEMENT.—A covered enti-                  ‘‘(1) IN GENERAL.—For purposes of this sec-          is attributable to the advanced manufac-
                                               ty to which the Secretary of Commerce                    tion, the term ‘eligible taxpayer’ means any           turing investment credit under section
                                               awards Federal financial assistance under                taxpayer which—                                        48D(a) with respect to such property.’’.
                                               section 9902 of the William M. (Mac) Thorn-                ‘‘(A) is not a foreign entity of concern (as           (B) PROHIBITED ACTIVITY.—Section 50(a)(7)
                                               berry National Defense Authorization Act                 defined in section 9901(6) of the William M.           of the Internal Revenue Code of 1986, as
                                               for Fiscal Year 2021 (15 U.S.C. 4652) or section         (Mac) Thornberry National Defense Author-              amended redesignated by the preceding pro-
                                               102 or 103 of this Act with amounts appro-               ization Act for Fiscal Year 2021),                     visions of this Act, is amended adding at the
                                               priated under this Act shall enter into an                 ‘‘(B) has not made an applicable trans-              end the following new subparagraph:
                                               agreement that specifies that, during the 5-             action (as defined in section 50(a)) during the          ‘‘(E) PROHIBITED ACTIVITY.—For purposes of
                                               year period immediately following the award              taxable year,                                          this subsection, the term ‘prohibited activ-
                                               of the Federal financial assistance—                       ‘‘(C) has not performed a prohibited activ-          ity’ means, with respect to any applicable
                                                 (A) the covered entity will not—                       ity (as defined in section 50(a)) for the por-         taxpayer, any of the following:
                                                 (i) repurchase an equity security that is              tion of the taxable year after investment                ‘‘(i) the repurchase an equity security that




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                                               listed on a national securities exchange of              credit property has been placed in service,            is listed on a national securities exchange of
                                               the covered entity or any parent company of              and                                                    the taxpayer or any parent company of the
                                               the covered entity, except to the extent re-               ‘‘(D) meets the requirements of paragraph            taxpayer, except to the extent required
                                               quired under a contractual obligation that is            (2).                                                   under a contractual obligation that is in ef-
                                               in effect as of the date of enactment of this              ‘‘(2)   FINANCIAL     PROTECTION    REQUIRE-         fect as of the date of enactment of this sub-
                                               Act;                                                     MENTS.—                                                paragraph;
                                                 (ii) outsource or offshore jobs to a location            ‘‘(A) IN GENERAL.—A taxpayer meets the                 ‘‘(ii) the outsourcing or offshoring of jobs
                                               outside of the United States; or                         requirements of this paragraph if—                     to a location outside of the United States;




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                                               S3616                                             CONGRESSIONAL RECORD — SENATE                                                             July 21, 2022
                                                  ‘‘(iii) the abrogation of existing collective         ment, or substantial or essential components              SA 5155. Mr. RUBIO submitted an
                                               bargaining agreements; or                                of semiconductor manufacturing equip-                   amendment intended to be proposed to
                                                  ‘‘(iv) the failure of the taxpayer to remain          ment’’.                                                 amendment SA 5135 proposed by Mr.
                                               neutral in any union organizing effort.’’.
                                                                                                                                                                SCHUMER to the bill H.R. 4346, making
                                                  (C) CONFORMING AMENDMENTS.—                             SA 5148. Mr. SCHUMER proposed an
                                                  (i) Section 50(a)(5) of the Internal Revenue                                                                  appropriations for Legislative Branch
                                                                                                        amendment to the bill S. 3373, to im-
                                               Code of 1986, as redesignated by the pre-                                                                        for the fiscal year ending September 30,
                                                                                                        prove the Iraq and Afghanistan Service
                                               ceding provisions of this Act, is amended—                                                                       2022, and for other purposes; which was
                                                                                                        Grant and the Children of Fallen He-
                                                  (I) by striking ‘‘or any applicable trans-                                                                    ordered to lie on the table; as follows:
                                                                                                        roes Grant; as follows:
                                               action to which paragraph (3)(A) applies’’                                                                         Beginning on page 40, strike line 5 and all
                                               and inserting ‘‘any applicable transaction to                At the end add the following:
                                                                                                                                                                that follows through line 23 on page 42, and
                                               which paragraph (3)(A) applies, or any pro-              SEC. EFFECTIVE DATE
                                                                                                                                                                insert the following:
                                               hibited transaction to which paragraph (4)                 This Act shall take effect on the date that             ‘‘(ii) UPDATES.—
                                               applies’’, and                                           is 1 day after the date of enactment of this              ‘‘(I) APPROPRIATE CONGRESSIONAL COMMIT-
                                                  (II) by striking ‘‘or applicable transaction’’        Act.                                                    TEES.—For purposes of this clause, the term
                                               and inserting ‘‘, applicable transaction, or                                                                     ‘appropriate      congressional    committees’
                                               prohibited transaction’’.                                  SA 5149. Mr. SCHUMER proposed an                      means—
                                                  (ii) Section 50(a)(7)(C) of such Code, as             amendment to amendment SA 5148 pro-                       ‘‘(aa) the Committee on Commerce,
                                               amended and redesignated the preceding pro-              posed by Mr. SCHUMER to the bill S.                     Science and Transportation, the Select Com-
                                               visions of this Act, is amended by striking              3373, to improve the Iraq and Afghani-                  mittee on Intelligence, and the Committee
                                               ‘‘or (3)’’ and inserting ‘‘(3), or (4)’’.                stan Service Grant and the Children of                  on Armed Services of the Senate; and
                                                  (iii) Section 1371(d)(1) of such Code, as                                                                       ‘‘(bb) the Committee on Energy and Com-
                                               amended by this Act, is amended by striking
                                                                                                        Fallen Heroes Grant; as follows:
                                                                                                                                                                merce, the Permanent Select Committee on
                                               ‘‘section 50(a)(5)’’ and inserting ‘‘section                On page 1, line 3, strike ‘‘1 day’’ and insert
                                                                                                                                                                Intelligence, and the Committee on Armed
                                               50(a)(6)’’.                                              ‘‘2 days’’.
                                                                                                                                                                Services of the House of Representatives.
                                                                                                                                                                  ‘‘(II) IN GENERAL.—Subject to subclause
                                                 SA 5146. Mr. JOHNSON submitted an                        SA 5150. Mr. SCHUMER proposed an                      (III), not later than 2 years after the date of
                                               amendment intended to be proposed by                     amendment to the bill S. 3373, to im-                   enactment of the CHIPS Act of 2022, and not
                                               him to the bill H.R. 4346, making ap-                    prove the Iraq and Afghanistan Service                  less frequently than once every 2 years
                                               propriations for Legislative Branch for                  Grant and the Children of Fallen He-                    thereafter for the 8-year period after the last
                                               the fiscal year ending September 30,                     roes Grant; as follows:                                 award under this section is made, the Sec-
                                               2022, and for other purposes; which was                      At the end add the following:                       retary, after public notice and an oppor-
                                               ordered to lie on the table; as follows:                 SEC. EFFECTIVE DATE.                                    tunity for comment and if applicable and
                                                                                                                                                                necessary, shall issue a public notice identi-
                                                 At the appropriate place, insert the fol-                This Act shall take effect on the date that
                                                                                                                                                                fying any additional semiconductor tech-
                                               lowing:                                                  is 3 days after the date of enactment of this
                                                                                                                                                                nology included in the meaning of the term
                                               SEC. lll. OFFSET OF COSTS USING UNOBLI-                  Act.
                                                                                                                                                                ‘legacy semiconductor’ under clause (i).
                                                          GATED FUNDS FROM THE AMERICAN
                                                                                                                                                                  ‘‘(III) NOTICE TO THE APPROPRIATE CONGRES-
                                                          RESCUE PLAN ACT OF 2021 AND THE                 SA 5151. Mr. SCHUMER proposed an
                                                          CARES ACT.                                                                                            SIONAL COMMITTEES.—
                                                                                                        amendment to amendment SA 5150 pro-                       ‘‘(aa) NOTICE.—Not later than 10 days after
                                                 (a) DEFINITION.—In this section, the term
                                                                                                        posed by Mr. SCHUMER to the bill S.                     the Secretary determines that any addi-
                                               ‘‘total cost of this Act’’ means the sum, as
                                               determined by the Director of OMB, of the                3373, to improve the Iraq and Afghani-                  tional semiconductor technology should be
                                               amounts appropriated under any division of               stan Service Grant and the Children of                  included in the meaning of the term ‘legacy
                                               this Act or an amendment made by any divi-               Fallen Heroes Grant; as follows:                        semiconductor’ under clause (i) and before
                                               sion of this Act and the amounts authorized                  On page 1, line 3, strike ‘‘3’’ and insert ‘‘4’’.   the Secretary issues the initial public notice
                                               to be appropriated under any division of this                                                                    described in subclause (II), the Secretary—
                                               Act or an amendment made by any division                   SA 5152. Mr. SCHUMER proposed an                        ‘‘(AA) shall notify the appropriate congres-
                                               of this Act.                                             amendment to amendment SA 5151 pro-                     sional committees of that determination;
                                                  (b) RESCISSIONS.—Effective on the date of                                                                     and
                                                                                                        posed by Mr. SCHUMER to the amend-                        ‘‘(BB) shall not issue the initial public no-
                                               enactment of this Act, there is rescinded, on
                                               a pro rata basis-—
                                                                                                        ment SA 5150 proposed by Mr. SCHUMER                    tice described in subclause (II) unless each of
                                                  (1) of the unobligated balances made avail-           to the bill S. 3373, to improve the Iraq                the appropriate congressional committees
                                               able under the American Rescue Plan Act of               and Afghanistan Service Grant and the                   affirmatively agrees in writing in accordance
                                               2021 (Public Law 117–2; 135 Stat. 4), the                Children of Fallen Heroes Grant; as fol-                with item (bb) to the proposed inclusion of
                                               amount necessary to reduce the total                     lows:                                                   the additional semiconductor technology in
                                               amount of such unobligated balances by an                    On page 1, line 3, strike ‘‘4’’ and insert ‘‘5’’.   the meaning of the term ‘legacy semicon-
                                               amount equal to the total cost of this Act;                                                                      ductor’.
                                               and                                                        SA 5153. Mr. MANCHIN (for himself                       ‘‘(bb) AGREEMENT.—Upon receipt of a no-
                                                  (2) if the unobligated balances described in                                                                  tice described in item (aa) by an appropriate
                                                                                                        and Mrs. SHAHEEN) submitted an                          congressional committee, the appropriate
                                               paragraph (1) are less than the total cost of
                                                                                                        amendment intended to be proposed to                    congressional committee—
                                               this Act, of the unobligated balances made
                                               available under the CARES Act (Public Law                amendment SA 5135 proposed by Mr.                         ‘‘(AA) shall review the notice; and
                                               116–136; 134 Stat. 281), the amount necessary            SCHUMER to the bill H.R. 4346, making                     ‘‘(BB) if the appropriate congressional
                                               to reduce the total amount of such unobli-               appropriations for Legislative Branch                   committee agrees to the inclusion, not later
                                               gated balances by an amount equal to the                 for the fiscal year ending September 30,                than 30 days after the date of receipt of the
                                               difference between the amount rescinded                  2022, and for other purposes; which was                 notice, shall submit to the Secretary a writ-
                                               under paragraph (1) and the total cost of this           ordered to lie on the table; as follows:                ten affirmative agreement that the relevant
                                               Act.                                                                                                             additional semiconductor technology should
                                                                                                           On page 790, on line 4, insert ‘‘In selecting        be included in the meaning of the term ‘leg-
                                                 SA 5147. Mr. GRAHAM submitted an                       recipients, the Secretary shall consider for            acy semiconductor’.
                                                                                                        prioritization severely distressed eligible               ‘‘(iii) FUNCTIONS OF THE SECRETARY.—The
                                               amendment intended to be proposed to                     areas, in addition to other factors.’’ after
                                               amendment SA 5135 proposed by Mr.                                                                                functions of the Secretary under this para-
                                                                                                        ‘‘recipients.’’                                         graph shall not be subject to sections 551, 553
                                               SCHUMER to the bill H.R. 4346, making
                                                                                                                                                                through 559, and 701 through 706 of title 5,
                                               appropriations for Legislative Branch                      SA 5154. Mrs. CAPITO (for herself,                    United States Code.
                                               for the fiscal year ending September 30,                 Mr. WICKER, Mr. TILLIS, and Mr. COR-                      ‘‘(iv) CONSULTATION.—In carrying out
                                               2022, and for other purposes; which was                  NYN) submitted an amendment in-                         clause (ii), the Secretary shall consult with
                                               ordered to lie on the table; as follows:                 tended to be proposed to amendment                      the Director of National Intelligence and the
                                                 On page 31, lines 9 and 10, strike ‘‘or semi-          SA 5135 proposed by Mr. SCHUMER to                      Secretary of Defense.




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                                               conductor manufacturing equipment’’ and                  the bill H.R. 4346, making appropria-                     ‘‘(v) CONSIDERATIONS.—In carrying out
                                               insert ‘‘semiconductor manufacturing equip-              tions for Legislative Branch for the fis-               clause (ii), the Secretary shall consider—
                                               ment, or substantial or essential components                                                                       ‘‘(I) state-of-the-art semiconductor tech-
                                                                                                        cal year ending September 30, 2022, and                 nologies in the United States and inter-
                                               of semiconductor manufacturing equip-
                                               ment’’.
                                                                                                        for other purposes; which was ordered                   nationally, including in foreign countries of
                                                 On page 34, lines 5 and 6, strike ‘‘or semi-           to lie on the table; as follows:                        concern; and
                                               conductor manufacturing equipment’’ and                    Beginning on page 776, strike line 18 and               ‘‘(II) consistency with export controls re-
                                               insert ‘‘semiconductor manufacturing equip-              all that follows through page 790, line 4.              lating to semiconductors.




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                                               July 21, 2022                                     CONGRESSIONAL RECORD — SENATE                                                                   S3617
                                                 ‘‘(B) DEFINITION OF SEMICONDUCTOR MANU-                SEC.   ll. COUNTERINTELLIGENCE AND NA-                          COMMITTEE ON ARMED SERVICES
                                               FACTURING.—In this paragraph, the term                              TIONAL SECURITY PROTECTIONS.
                                                                                                                                                                 The Committee on Armed Services is
                                               ‘semiconductor manufacturing’—                             (a) COUNTERINTELLIGENCE SCREENING PROC-
                                                                                                                                                               authorized to meet during the session
                                                 ‘‘(i) has the meaning given the term by the            ESS.—
                                                                                                          (1) ESTABLISHMENT.—The Director of Na-
                                                                                                                                                               of the Senate on Thursday, July 21,
                                               Secretary, in consultation with the Sec-
                                                                                                        tional Intelligence, the Director of the Na-           2022, at 9:30 a.m., to conduct a hearing
                                               retary of Defense and the Director of Na-
                                               tional Intelligence; and                                 tional Counterintelligence and Security Cen-           on nominations.
                                                 ‘‘(ii) includes front-end semiconductor fab-           ter, and the Director of the Federal Bureau             COMMITTEE ON BANKING, HOUSING, AND URBAN
                                               rication.                                                of Investigation shall jointly establish a                              AFFAIRS
                                                 ‘‘(C) REQUIRED AGREEMENT.—                             counterintelligence screening process to pro-            The Committee on Banking, Housing,
                                                 ‘‘(i) IN GENERAL.—On or before the date on             tect the United States against efforts of              and Urban Affairs is authorized to
                                               which the Secretary awards Federal finan-                China and other foreign entities to engage in          meet during the session of the Senate
                                               cial assistance to a covered entity under this           economic espionage and to misappropriate               on Thursday, July 21, 2022, at 10 a.m.,
                                               section, the covered entity shall enter into             United States intellectual property, research
                                                                                                        and development, and innovation efforts.
                                                                                                                                                               to conduct a hearing.
                                               an agreement with the Secretary specifying
                                                                                                          (2) FUNCTIONS.—Subject to the joint direc-                  COMMITTEE ON ENERGY AND NATURAL
                                               that, during the 10-year period beginning on
                                                                                                        tion and control of the Director of National                             RESOURCES
                                               the date of the award, subject to clause (ii),
                                               the covered entity may not engage in any                 Intelligence, the Director of the National               The Committee on Energy and Nat-
                                               transaction, as defined in the agreement, in-            Counterintelligence and Security Center,               ural Resources is authorized to meet
                                               volving the expansion of semiconductor                   and the Director of the Federal Bureau of In-          during the session of the Senate on
                                               manufacturing capacity in the People’s Re-               vestigation, the counterintelligence screen-           Thursday, July 21, 2022, at 10 a.m., to
                                               public of China or any other foreign country             ing process established under paragraph (1)            conduct a business meeting.
                                               of concern.                                              shall assess and screen all funds provided                   COMMITTEE ON HOMELAND SECURITY AND
                                                 ‘‘(ii) EXCEPTIONS.—                                    under this Act (including grants awarded                           GOVERNMENTAL AFFAIRS
                                                 ‘‘(I) APPROPRIATE CONGRESSIONAL COMMIT-                under this Act) for potential national secu-
                                                                                                        rity threats.                                            The Committee on Homeland Secu-
                                               TEES.—For purposes of this clause, the term
                                               ‘appropriate      congressional    committees’             (3) FUNDING.—Amounts required to carry               rity and Governmental Affairs is au-
                                               means—                                                   out the process established under paragraph            thorized to meet during the session of
                                                 ‘‘(aa) the Committee on Commerce,                      (1) shall be derived from amounts appro-               the Senate on Thursday, July 21, 2022,
                                               Science, and Transportation, the Select                  priated to carry out this Act.                         at 10:15 a.m., to conduct a hearing on a
                                               Committee on Intelligence, and the Com-                    (b) PROTECTIONS.—                                    nomination.
                                               mittee on Armed Services of the Senate; and                (1) CERTIFICATION REQUIRED FOR RECEIPT OF                      COMMITTEE ON THE JUDICIARY
                                                 ‘‘(bb) the Committee on Energy and Com-                AMOUNTS.—Notwithstanding any other provi-
                                                                                                        sion of this Act, no person may receive any
                                                                                                                                                                 The Committee on the Judiciary is
                                               merce, the Permanent Select Committee on                                                                        authorized to meet during the session
                                               Intelligence, and the Committee on Armed                 amount (including an amount as part of a
                                                                                                        grant awarded under this Act) or purchase,             of the Senate on Thursday, July 21,
                                               Services of the House of Representatives.
                                                 ‘‘(II) APPLICATION OF EXCEPTIONS.—The pro-             lease, or otherwise obtain any intellectual            2022, at 9 a.m., to conduct an executive
                                               hibition in the agreement required under                 property developed through a grant awarded             business meeting.
                                               clause (i) shall not apply to—                           under this Act, unless the Director of Na-                              f
                                                 ‘‘(aa) existing facilities or equipment of a           tional Intelligence, the Director of the Na-
                                               covered entity for manufacturing legacy                  tional Counterintelligence and Security Cen-               PRIVILEGES OF THE FLOOR
                                               semiconductors; or                                       ter, and the Director of the Federal Bureau              Mrs. BLACKBURN. Mr. President, I
                                                 ‘‘(bb) significant transactions involving              of Investigation jointly certify that the per-         ask unanimous consent that the fol-
                                               the material expansion of semiconductor                  son has sufficient protections in place to pro-        lowing interns from my office be grant-
                                               manufacturing capacity that—                             tect against misappropriation of United
                                                                                                        States intellectual property, research and
                                                                                                                                                               ed floor privileges for the remainder of
                                                 ‘‘(AA) produces legacy semiconductors; and                                                                    the Congress: Isabella Andrews-Zachry
                                                 ‘‘(BB) predominately serves the market of              development, and innovation efforts, and
                                               a foreign country of concern.                            other threats from foreign governments and             and Eliza Roddy.
                                                 ‘‘(III) NOTIFICATION.—If the Secretary                 other entities.                                          The PRESIDING OFFICER. Without
                                               grants an exception or otherwise becomes                   (2) CERTIFICATION REQUIREMENTS.—Not-                 objection, it is so ordered.
                                               aware of any facility, equipment, or signifi-            withstanding any other provision of this Act,                           f
                                               cant transaction that qualifies for an excep-            no certification may be made under para-
                                               tion under subclause (II), the Secretary shall           graph (1) with respect to a person unless                ORDERS FOR MONDAY, JULY 25,
                                               submit notice of the exception to the appro-             such person discloses to the Director of Na-                               2022
                                               priate congressional committees not later                tional Intelligence, the Director of the Na-             Mr. CARDIN. Mr. President, I ask
                                               than 10 days after the date on which the Sec-            tional Counterintelligence and Security Cen-
                                                                                                                                                               unanimous consent that when the Sen-
                                               retary grants or becomes aware of the excep-             ter, and the Director of the Federal Bureau
                                                                                                        of Investigation the following:                        ate completes its business today, it ad-
                                               tion.’’.
                                                                                                          (A) Any funding received by the person               journ until 3 p.m., Monday, July 25,
                                                                                                        from a foreign source during the most recent           and that following the prayer and
                                                 SA 5156. Mr. RUBIO submitted an                        10-year period.                                        pledge, the morning hour be deemed
                                               amendment intended to be proposed by                       (B) Any financial or in-kind support re-             expired, the Journal of proceedings be
                                               him to the bill H.R. 4346, making ap-                    ceived by the person from any entity—                  approved to date, the time for the two
                                               propriations for Legislative Branch for                    (i) owned or controlled by the Government            leaders be reserved for their use later
                                               the fiscal year ending September 30,                     of the People’s Republic of China; or
                                                                                                                                                               in the day, and morning business be
                                               2022, and for other purposes; which was                    (ii) in which the Government of the Peo-
                                                                                                        ple’s Republic of China has an ownership in-           closed; that upon the conclusion of
                                               ordered to lie on the table; as follows:                                                                        morning business, the Senate resume
                                                                                                        terest.
                                                 At the appropriate place, insert the fol-                (C) Any participation of the person in a             consideration of the House message to
                                               lowing:                                                  foreign government talent recruitment pro-             accompany S. 3373; further, that the
                                               SEC. lll. ADDITIONAL ‘‘RIP AND REPLACE’’                 gram, consistent with sections 10631 and               cloture motion filed during yesterday’s
                                                        FUNDING.                                        10632.                                                 session ripen at 5:30 p.m. and that the
                                                  Section 4(k) of the Secure and Trusted                                f                                      mandatory quorum call be waived.
                                               Communications Networks Act of 2019 (47                                                                           The PRESIDING OFFICER. Without
                                               U.S.C. 1603(k)) is amended by striking                    AUTHORITY FOR COMMITTEES TO
                                                                                                                         MEET                                  objection, it is so ordered.
                                               ‘‘$1,900,000,000’’ and inserting ‘‘$4,980,000,000’’.
                                                                                                                                                                                f
                                                                                                          Mr. CARDIN. Mr. President, I have
                                                 SA 5157. Mr. RUBIO submitted an                        five requests for committees to meet                     ADJOURNMENT UNTIL MONDAY,
                                               amendment intended to be proposed by                     during today’s session of the Senate.                         JULY 25, 2022, AT 3 P.M.




SSpencer on DSK126QN23PROD with SENATE
                                               him to the bill H.R. 4346, making ap-                    They have the approval of the Majority                   Mr. CARDIN. Mr. President, if there
                                               propriations for Legislative Branch for                  and Minority Leaders.                                  is no further business to come before
                                               the fiscal year ending September 30,                       Pursuant to Rule XXVI, paragraph                     the Senate, I ask that it stand ad-
                                               2022, and for other purposes; which was                  5(a), of the Standing Rules of the Sen-                journed under the previous order.
                                               ordered to lie on the table; as follows:                 ate, the following committees are au-                    There being no objection, the Senate,
                                                 At the appropriate place in division B, in-            thorized to meet during today’s session                at 4:21 p.m., adjourned until Monday,
                                               sert the following:                                      of the Senate:                                         July 25, 2022, at 3 p.m.



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