GENE Act

S 1827, the GENE Act, requires foreign investors to submit mandatory declarations for transactions involving U.S. companies that collect or maintain genetic data (including genomic sequencing of U.S. citizens). It directly affects foreign entities investing in U.S. genetic testing or health data businesses and mandates the Committee on Foreign Investment (CFIUS) to consult with the Secretary of Health and Human Services during reviews of such transactions. Key provisions include new declaration requirements for covered transactions, mandatory HHS consultation, and a 180-day deadline for CFIUS to issue implementing regulations. The law takes effect 90 days after enactment and applies to reviews initiated after that date.