The main purpose of this legislation is to create an initiative aimed at improving how foreign investments are screened for national security risks. The goal is to help protect the United States and its allies from potential threats that can arise from foreign investments in critical infrastructure and sensitive technologies. Key provisions of the legislation require the Secretary of State to establish the Initiative on Foreign Investment Screening within 180 days of the law being enacted. This initiative will last for three years and will involve collaboration with other government agencies.