Requires the Secretary of Commerce to set standards that make advanced computer chips carry location-verification and other security features before they are exported, reexported, or transferred within a foreign country.

• Requires the Secretary of Commerce, within 180 days of enactment, to require covered advanced integrated circuits and computers to include location-verification mechanisms before export, reexport, or in-country transfer.
• Requires licensed exporters to report promptly to the Under Secretary of Industry and Security if a product is found in an unapproved location, diverted to another user, or tampered with.
• Requires a one-year assessment of additional security mechanisms, with a report to the Senate Banking and House Foreign Affairs committees, and implementation within two years of the assessment's completion if mechanisms are found appropriate.
• Authorizes the Secretary to verify the ownership and location of exported products and to keep a record of each product's location and end user.
• Requires annual assessments and reports for three years, beginning two years after enactment, on new security mechanisms and on whether export rules could be loosened for products that use them.

• Foreign Affairs Committee (House)

Foreign Trade and International Finance