Foreign Investment Review Authority

(a) Establishment There is established the Foreign Investment Review Authority. (b) Board of directors (1) Members The head of FIRA shall be a board of directors consisting of the following: (A) The Chair, who shall be appointed by the President, by and with the advice and consent of the Senate. (B) A designee of the Secretary of Commerce. (C) A designee of the Attorney General. (D) A designee of the Secretary of Labor. (E) Four members appointed by the President, by and with the advice and consent of the Senate, from among individuals who are not of the same political party as the President. (2) Term Each member of the board of directors of FIRA shall serve a 4-year term. (c) Conflicts of interest FIRA shall establish conflict of interest requirements applicable to the members of the board of directors and the employees of FIRA that ensure there are no conflicts of interest regarding the review of investments by FIRA. (d) Office of the Chief Ethics Officer (1) In general There is established within FIRA the Office of the Chief Ethics Officer, which shall be headed by the Chief Ethics Officer. (2) Appointment The Chief Ethics Officer shall be appointed by FIRA, subject to the advice and consent of the Senate. (3) Term The Chief Ethics Officer shall serve a 6-year term. (4) Removal authority The Chief Ethics Officer may only be removed for gross misconduct. (e) Public Oversight Board (1) Establishment There is established within the Office of the Chief Ethics Officer a Public Oversight Board. (2) Members The Public Oversight Board shall consist of the following: (A) One member appointed by the Speaker of the House of Representatives. (B) One member appointed by the Minority Leader of the House of Representatives. (C) One member appointed by the Majority Leader of the Senate. (D) One member appointed by the Minority Leader of the Senate. (E) One member representing organized labor organizations, appointed by the members appointed under subparagraphs (A) through (D). (3) Term The term of a member of the Public Oversight Board shall be 3 years, and an individual may not serve as a member of the Public Oversight Board for more than one term in any 10-year period. (f) Complaint process (1) In general The Chief Ethics Officer shall establish a method for persons to submit complaints to the Chief Ethics Officer or Public Oversight Board. Both the Officer and the Board shall create mechanisms for such complaints to be received by identified persons or anonymous persons. (2) Deadline for response The Chief Ethics Officer and the Public Oversight Board shall respond to each complaint received under this subsection within the 30-day period beginning on the date the complaint was received, and such response shall include a substantive adjudication as to the merits of the complaint. (g) Rulemaking authority FIRA may issue such rules as may be necessary to carry out this Act.