Foreign Investment Transparency and Accountability Act

HR 8636, the Foreign Investment Transparency and Accountability Act, requires federal agencies to formally request the Committee on Foreign Investment in the United States (CFIUS) to review specific foreign transactions and to certify those transactions meet national security criteria. If CFIUS decides not to review a transaction, it must issue a public notice explaining why, including whether the transaction qualified as a "covered transaction" under current law and any legislative recommendations to expand review requirements. The notice must also include a classified annex with sensitive details like party names, while specifying the relevant congressional committees (House Financial Services and Appropriations subcommittees, and Senate Banking and Appropriations subcommittees). This bill does not change investment restrictions but improves transparency in the review process for foreign acquisitions affecting national security.