Foreign Investment Risk Review Modernization Act of 2018

[AI summary unavailable — showing source text] Foreign Investment Risk Review Modernization Act of 2018 This bill amends the Defense Production Act of 1950 to revise the Committee on Foreign Investment in the United States' (CFIUS's) authority to review the national security implications of foreign investments. The definition of a "covered transaction" subject to CFIUS review is amended to include certain real estate transactions, sensitive transactions involving countries of special concern, and asset transfers pursuant to bankruptcy proceedings. Other topics revised by this bill include mitigation agreements, required CFIUS review factors, and CFIUS funding and resources. The bill delays to 2021 the National Credit Union Administration rule titled "Risk-Based Capital" published on October 29, 2015. Export Control Reform Act of 2018 Export Controls Act of 2018 The bill grants the President authority to control and regulate: (1) the export, reexport, and transfer of commodities, software, or technology; and (2) activities relating to specific nuclear, chemical, biological, or other weapons and related projects, and foreign intelligence services. The President must establish an interagency process to identify…