Page:United States Statutes at Large Volume 121.djvu/280

 PUBLIC LAW 110–49—JULY 26, 2007

121 STAT. 259

on Foreign Affairs, the Committee on Financial Services, and the Committee on Energy and Commerce of the House of Representatives. SEC. 8. CERTIFICATION OF NOTICES AND ASSURANCES.

Section 721 of the Defense Production Act of 1950 (50 U.S.C. App. 2170) is amended by adding at the end the following: ‘‘(n) CERTIFICATION OF NOTICES AND ASSURANCES.—Each notice, and any followup information, submitted under this section and regulations prescribed under this section to the President or the Committee by a party to a covered transaction, and any information submitted by any such party in connection with any action for which a report is required pursuant to paragraph (3)(B) of subsection (l), with respect to the implementation of any mitigation agreement or condition described in paragraph (1)(A) of subsection (l), or any material change in circumstances, shall be accompanied by a written statement by the chief executive officer or the designee of the person required to submit such notice or information certifying that, to the best of the knowledge and belief of that person— ‘‘(1) the notice or information submitted fully complies with the requirements of this section or such regulation, agreement, or condition; and ‘‘(2) the notice or information is accurate and complete in all material respects.’’. SEC. 9. REGULATIONS.

Section 721(h) of the Defense Production Act of 1950 (50 U.S.C. App. 2170(h)) is amended to read as follows: ‘‘(h) REGULATIONS.— ‘‘(1) IN GENERAL.—The President shall direct, subject to notice and comment, the issuance of regulations to carry out this section. ‘‘(2) EFFECTIVE DATE.—Regulations issued under this section shall become effective not later than 180 days after the effective date of the Foreign Investment and National Security Act of 2007. ‘‘(3) CONTENT.—Regulations issued under this subsection shall— ‘‘(A) provide for the imposition of civil penalties for any violation of this section, including any mitigation agreement entered into or conditions imposed pursuant to subsection (l); ‘‘(B) to the extent possible— ‘‘(i) minimize paperwork burdens; and ‘‘(ii) coordinate reporting requirements under this section with reporting requirements under any other provision of Federal law; and ‘‘(C) provide for an appropriate role for the Secretary of Labor with respect to mitigation agreements.’’.

President.

SEC. 10. EFFECT ON OTHER LAW.

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Section 721(i) of the Defense Production Act of 1950 (50 U.S.C. App. 2170(i)) is amended to read as follows: ‘‘(i) EFFECT ON OTHER LAW.—No provision of this section shall be construed as altering or affecting any other authority, process, regulation, investigation, enforcement measure, or review provided by or established under any other provision of Federal law, including the International Emergency Economic Powers Act, or

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