To amend the Defense Production Act of 1950 to clarify and strengthen provisions pertaining to national security takeovers.

[AI summary unavailable — showing source text] Amends the Defense Production Act to authorize the President or his designee to conduct a review to determine whether an investigation should be conducted to determine the effects on national security of certain mergers, acquisitions, and takeovers by foreign persons which could result in foreign control of persons or activities engaged in interstate commerce in the United States. (Currently, there is no review process prior to such investigation.) Authorizes the Secretaries of Commerce and Defense, if the President's designee is an interagency committee, to collect and analyze such takeover proposals, identify the plans of the acquiring foreign person with respect to the transfer of technology, and make recommendations to the committee concerning the need to conduct such an investigation. Authorizes the Secretaries to: (1) solicit assurances from the foreign person that their plans will not impair the national security; (2) conduct a review to determine if such assurances are being implemented and complied with; and (3) request that the interagency committee conduct an investigation if the Secretary of Commerce finds that a foreign person is not appropriately implementing or compl…