DHS ECONOMIC SECURITY COUNCIL.

SEC. 7116. DHS ECONOMIC SECURITY COUNCIL. (a) [6 U.S.C. 451 note] Establishment of the Council.— (1) Definitions.—In this subsection: (A) Council.—The term “Council” means the council established under paragraph (2). (B) Department.—The term “Department” means the Department of Homeland Security. (C) Economic security.—The term “economic security” has the meaning given such term in section 890B(c)(2) of the Homeland Security Act of 2002 (6 U.S.C. 474(c)(2)). (D) Secretary.—The term “Secretary” means the Secretary of Homeland Security. (2) Establishment.—In accordance with the mission of the Department under section 101(b) of the Homeland Security Act of 2002 (6 U.S.C. 111(b)), and in particular paragraph (1)(F) of such section, the Secretary shall establish a standing council of Department component heads or their designees, to carry out the duties described in paragraph (3). (3) Duties of the council.—Pursuant to the scope of the mission of the Department as described in paragraph (2), the Council shall provide to the Secretary advice and recommendations on matters of economic security, including relating to the following: (A) Identifying concentrated risks for trade and economic security. (B) Setting priorities for securing the trade and economic security of the United States. (C) Coordinating Department-wide activity on trade and economic security matters. (D) With respect to the development of the continuity of the economy plan of the President under section 9603 of the William M. (Mac) Thornberry National Defense Authorization Act of Fiscal Year 2021 (6 U.S.C. 322). (E) Proposing statutory and regulatory changes impacting trade and economic security. (F) Any other matters the Secretary considers appropriate. (4) Chair and vice chair.—The Under Secretary for Strategy, Policy, and Plans of the Department— (A) shall serve as Chair of the Council; and (B) may designate a Council member as a Vice Chair. (5) Meetings.—The Council shall meet not less frequently than quarterly, as well as— (A) at the call of the Chair; or (B) at the direction of the Secretary. (6) Briefings.—Not later than 180 days after the date of the enactment of this Act and every 180 days thereafter for four years, the Council shall brief the Committee on Homeland Security and Governmental Affairs of the Senate, the Committee on Homeland Security of the House of Representatives, the Committee on Finance of the Senate, the Committee on Ways and Means of the House of Representatives, the Committee on Commerce, Science, and Transportation of the Senate, and Committee on Energy and Commerce of the House of Representatives on the actions and activities of the Council. (b) Assistant Secretary.—Section 709 of the Homeland Security Act of 2002 (6 U.S.C. 349) is amended— (1) by redesignating subsection (g) as subsection (h); and (2) by inserting after subsection (f) the following new subsection: “(g) Assistant Secretary.— “(1) In general.—There is established within the Office of Strategy, Policy, and Plans an Assistant Secretary, who shall assist the Secretary in carrying out the duties under paragraph (2) and the responsibilities under paragraph (3). Notwithstanding section 103(a)(1), the Assistant Secretary established under this paragraph shall be appointed by the President without the advice and consent of the Senate. “(2) Duties.—At the direction of the Secretary, the Assistant Secretary established under paragraph (1) shall be responsible for policy formulation regarding matters relating to economic security and trade, as such matters relate to the mission and the operations of the Department. “(3) Additional responsibilities.—In addition to the duties specified in paragraph (2), the Assistant Secretary established under paragraph (1), at the direction of the Secretary, may— “(A) oversee— “(i) coordination of supply chain policy; and “(ii) assessments and reports to Congress related to critical economic security domains; “(B) coordinate with stakeholders in other Federal departments and agencies and nongovernmental entities with trade and economic security interests, authorities, and responsibilities; and “(C) perform such additional duties as the Secretary or the Under Secretary of Strategy, Policy, and Plans may prescribe. “(4) Definitions.—In this subsection: “(A) Critical economic security domain.—The term ‘critical economic security domain’ means any infrastructure, industry, technology, or intellectual property (or combination thereof) that is essential for the economic security of the United States. “(B) Economic security.—The term ‘economic security’ has the meaning given such term in section 890B(c)(2).” . (c) [6 U.S.C. 349 note] Rule of Construction.—Nothing in this section or the amendments made by this section may be construed to affect or diminish the authority otherwise granted to any other officer of the Department of Homeland Security.