From the Overview: "On January 13, 2020, the Department of the Treasury issued final regulations to implement key parts of the Foreign Investment Risk Review Modernization Act (FIRRMA) (Title XVII, P.L. 115-232), which are intended to 'strengthen and modernize' the national security review of foreign direct investment (FDI) transactions by the Committee on Foreign Investment in the United States (CFIUS) (under P.L. 110-49). CFIUS is an interagency body comprising nine Cabinet members and others as appointed. The regulations, which largely concern CFIUS's expanded review of certain real estate and noncontrolling investments, became effective on February 13, 2020. These rules were widely anticipated by various stakeholders for clarifying key aspects of FIRRMA. Subsequently, a new rule proposed in May would amend the mandatory filing requirements related to U.S. critical technology companies."
CRS In Focus, IF11334
Congressional Research Service: https://crsreports.congress.gov/