Bill > HR5487

This bill, known as the "Keep the Lights Local Act", prohibits foreign corporations and foreign governments from owning public utility holding companies in the United States. Specifically, the bill amends the 42 U.S. Code Chapter 149 to add a new section that explicitly bars foreign entities from controlling public utilities. The prohibition will take effect 180 days after the act's enactment date, which provides a transition period for any existing foreign-owned utility companies to divest or restructure their ownership. The bill aims to ensure that critical infrastructure like electricity, water, and other public utility services are controlled by domestic entities, potentially addressing national security concerns about foreign control of essential infrastructure. By preventing foreign corporations and governments from owning public utility holding companies, the legislation seeks to keep control of these important services within the United States.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/5487/all-info