HR0603 103RD GENERAL ASSEMBLY

HR0603 LRB103 39124 MST 69264 r

HOUSE RESOLUTION

WHEREAS, The federal government enacted the Inflation Reduction Act of 2022, which will make historic investments in clean energy manufacturing by providing $369 billion in energy security and climate change programs to increase domestic manufacturing capacity for wind turbines, solar panels, batteries, electric vehicles, and other essential components of clean energy production and storage; and

WHEREAS, The State of Illinois has created law, including the Reimagining Electric Vehicles Act (REV) and the Invest in Illinois Act (Closing Fund), that is targeted towards investing State funds into clean energy manufacturing; and

WHEREAS, United States-based companies are currently at a competitive disadvantage when it comes to renewable energy manufacturing, with 10 of the world's largest electric battery makers being located outside of the United States, according to Automotive News; and

WHEREAS, The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee authorized to review certain transactions involving foreign investment in the United States and certain real estate transactions by foreign persons, in order to determine the effect of such transactions on the national security of the United States; and

WHEREAS, CFIUS's jurisdiction over real estate transactions is limited to acquisitions or leases of sites near certain military installations and other sensitive government locations; and

WHEREAS, CFIUS also has the authority to scrutinize foreign investment transactions where a foreign person will gain or potentially gain control over, or make certain other types of investment in, a U.S. business; and

WHEREAS, CFIUS has found that recent land acquisitions by some foreign-based renewable energy manufacturers satisfied neither requirement that would prompt a review by the committee; and

WHEREAS, It is of the utmost importance that the U.S. protects its national security when dealing with companies based in foreign countries that actively undermine U.S. interests; and

WHEREAS, CFIUS should be empowered to thoroughly review transactions with foreign-based manufacturers to ensure that land acquisitions or other manufacturing incentives are not going to companies who pose a national security risk; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE HUNDRED THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge Congress to pass legislation and the President of the United States to sign into law a bill that would expand the jurisdiction of the Committee on Foreign Investment in the United States so that they review proposed land purchases and other incentives given to foreign-based companies to ensure that state and federal funds, as well public and private lands, are not awarded or sold to companies who pose national security risks; and be it further

RESOLVED, That suitable copies of this resolution be presented to the U.S. House Speaker Mike Johnson, U.S. House Minority Leader Hakeem Jeffries, U.S. Senate Majority Leader Chuck Schumer, U.S. Senate Minority Leader Mitch McConnell, and President Joe Biden.