Review and report regarding controlled integrated circuits

(a) Review The Secretary, in consultation with the Secretary of State, Secretary of Defense, and Secretary of Energy, shall review the implementation of the interim final rule of the Bureau of Industry and Security of the Department of Commerce entitled Implementation of Additional Due Diligence Measures for Advanced Computing Integrated Circuits; Amendments and Clarifications; and Extension of Comment Period, published in the Federal Register on January 16, 2025 (90 Fed. Reg. 5298; Docket No. 250108–0013), or any substantially similar successor rule, and consider any appropriate update or change to such rule to ensure that such rule is implemented effectively and fulfills the initial policy intent of such rule. (b) Report Not later than 120 days after the date of the enactment of this Act, Secretary, in consultation with the Secretary of State, the Secretary of Defense, and the Secretary of Energy, shall submit to the appropriate congressional committees a report on— (1) the findings of the review required under subsection (a); and (2) any change to the rule described in such subsection that has been made. (c) Definitions In this section: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Affairs of the House of Representatives; and (B) the Committee on Banking, Housing, and Urban Affairs of the Senate. (2) Secretary The term Secretary means the Secretary of Commerce, acting through the Under Secretary for Industry and Security.