Strategic infrastructure fund working group

(a) Establishment There is established a working group, to be known as the Strategic Infrastructure Fund Working Group (referred to in this section as the working group) to provide input on the feasibility of establishing a program to support strategically important capital-intensive infrastructure projects. (b) Composition The working group shall be— (1) led by a White House official, who may be the Assistant (if appointed), who shall serve as the White House focal point with respect to matters relating to the working group; and (2) composed of— (A) senior-level Federal officials, selected by the head of the applicable Federal agency or organization, from any Federal agency or organization that the President determines to be appropriate; (B) other senior-level Federal officials, selected by the head of the applicable Federal agency or organization, from any other Federal agency or organization that the Secretary determines to be appropriate; and (C) any senior-level Federal official selected by the White House official described in paragraph (1) from any Federal agency or organization. (c) Reporting The working group shall report to the National Security Council. (d) Duties The working group shall— (1) provide direction and advice to the officials described in section 3(a)(2)(A) and appropriate Federal agencies, as determined by the working group, with respect to the establishment of a Strategic Infrastructure Fund (referred to in this subsection as the Fund) to be used— (A) to support those aspects of projects relating to— (i) civil nuclear technologies; and (ii) microprocessors; and (B) for strategic investments identified by the working group; and (2) address critical areas in determining the appropriate design for the Fund, including— (A) transfer of assets to the Fund; (B) transfer of assets from the Fund; (C) how assets in the Fund should be invested; and (D) governance and implementation of the Fund. (e) Briefing and report required (1) Briefing Not later than 180 days after the date of enactment of this Act, the working group shall brief the committees described in paragraph (3) on the status of the development of the processes necessary to implement this section. (2) Report Not later than 1 year after the date of the enactment of this Act, the working group shall submit to the committees described in paragraph (3) a report on the findings of the working group that includes suggested legislative text for how to establish and structure a Strategic Infrastructure Fund. (3) Committees described The committees referred to in paragraphs (1) and (2) are— (A) the Committee on Foreign Relations, the Committee on Commerce, Science, and Transportation, the Committee on Armed Services, the Committee on Energy and Natural Resources, the Committee on Environment and Public Works, the Committee on Finance, and the Committee on Appropriations of the Senate; and (B) the Committee on Foreign Affairs, the Committee on Energy and Commerce, the Committee on Armed Services, the Committee on Science, Space, and Technology, the Committee on Ways and Means, and the Committee on Appropriations of the House of Representatives. (4) Administration of the fund The report submitted under paragraph (2) shall include suggested legislative language requiring all expenditures from a Strategic Infrastructure Fund established in accordance with this section to be administered by the Secretary of State (or a designee of the Secretary of State).

(a) Establishment There is established a working group, to be known as the Strategic Infrastructure Fund Working Group (referred to in this section as the working group) to provide input on the feasibility of establishing a program to support strategically important capital-intensive infrastructure projects. (b) Composition The working group shall be— (1) led by a White House official, who may be the Assistant (if appointed), who shall serve as the White House focal point with respect to matters relating to the working group; and (2) composed of— (A) senior-level Federal officials, selected by the head of the applicable Federal agency or organization, from any Federal agency or organization that the President determines to be appropriate; (B) other senior-level Federal officials, selected by the head of the applicable Federal agency or organization, from any other Federal agency or organization that the Secretary determines to be appropriate; and (C) any senior-level Federal official selected by the White House official described in paragraph (1) from any Federal agency or organization. (c) Reporting The working group shall report to the National Security Council. (d) Duties The working group shall— (1) provide direction and advice to the officials described in section 3(a)(2)(A) and appropriate Federal agencies, as determined by the working group, with respect to the establishment of a Strategic Infrastructure Fund (referred to in this subsection as the Fund) to be used— (A) to support those aspects of projects relating to— (i) civil nuclear technologies; and (ii) microprocessors; and (B) for strategic investments identified by the working group; and (2) address critical areas in determining the appropriate design for the Fund, including— (A) transfer of assets to the Fund; (B) transfer of assets from the Fund; (C) how assets in the Fund should be invested; and (D) governance and implementation of the Fund. (e) Briefing and report required (1) Briefing Not later than 180 days after the date of enactment of this Act, the working group shall brief the committees described in paragraph (3) on the status of the development of the processes necessary to implement this section. (2) Report Not later than 1 year after the date of the enactment of this Act, the working group shall submit to the committees described in paragraph (3) a report on the findings of the working group that includes suggested legislative text for how to establish and structure a Strategic Infrastructure Fund. (3) Committees described The committees referred to in paragraphs (1) and (2) are— (A) the Committee on Foreign Relations, the Committee on Commerce, Science, and Transportation, the Committee on Armed Services, the Committee on Energy and Natural Resources, the Committee on Environment and Public Works, the Committee on Finance, and the Committee on Appropriations of the Senate; and (B) the Committee on Foreign Affairs, the Committee on Energy and Commerce, the Committee on Armed Services, the Committee on Science, Space, and Technology, the Committee on Ways and Means, and the Committee on Appropriations of the House of Representatives. (4) Administration of the fund The report submitted under paragraph (2) shall include suggested legislative language requiring all expenditures from a Strategic Infrastructure Fund established in accordance with this section to be administered by the Secretary of State (or a designee of the Secretary of State).