Illinois HR 46: FOREIGN INVESTMENTS-FEDS

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HR0046LRB104 08702 MST 18756 r

1HOUSE RESOLUTION

2 WHEREAS, The federal government enacted the Inflation 

3Reduction Act of 2022, which will make historic investments in 

4clean energy manufacturing by providing $369 billion in energy 

5security and climate change programs to increase domestic 

6manufacturing capacity for wind turbines, solar panels, 

7batteries, electric vehicles, and other essential components 

8of clean energy production and storage; and

9 WHEREAS, The State of Illinois has created law, including 

10the Reimagining Electric Vehicles Act (REV) and the Invest in 

11Illinois Act (Closing Fund), that is targeted towards 

12investing State funds into clean energy manufacturing; and

13 WHEREAS, United States-based companies are currently at a 

14competitive disadvantage when it comes to renewable energy 

15manufacturing, with 10 of the world's largest electric battery 

16makers being located outside of the United States, according 

17to Automotive News; and

18 WHEREAS, The Committee on Foreign Investment in the United 

19States (CFIUS) is an interagency committee authorized to 

20review certain transactions involving foreign investment in 

21the United States and certain real estate transactions by 

22foreign persons, in order to determine the effect of such 

HR0046- 2 -LRB104 08702 MST 18756 r

1transactions on the national security of the United States; 

2and

3 WHEREAS, CFIUS's jurisdiction over real estate 

4transactions is limited to acquisitions or leases of sites 

5near certain military installations and other sensitive 

6government locations; and

7 WHEREAS, CFIUS also has the authority to scrutinize 

8foreign investment transactions where a foreign person will 

9gain or potentially