To amend the FISA Amendments Act of 2008 to extend the authorities of title VII of the Foreign Intelligence Surveillance Act of 1978, and for other purposes.

Key Points

• The bill extends Section 702 foreign intelligence surveillance authorities for three more years, pushing the expiration date from June 2026 to June 2029. This keeps the government's power to collect emails, phone calls, and other communications of foreigners located outside the U.S.
• The FBI would be blocked from putting Americans' communications into its searchable databases unless the target is relevant to an open national security investigation backed by probable cause that the person is a foreign agent or committing a crime. This creates a warrant-like requirement for accessing Americans' data swept up in foreign surveillance.
• Government employees who break these surveillance rules face serious criminal penalties. Leaking classified information about an American's communications could mean up to 8 years in prison, while unauthorized database searches or lying to the surveillance court could bring up to 2 years.
• The bill bans the Federal Reserve from creating a central bank digital currency (CBDC) until at least the end of 2031. An exception is carved out for any dollar-denominated currency that is open, permissionless, and private, preserving the privacy protections of physical cash.
• The Government Accountability Office must audit the targeting procedures used under Section 702 within one year and report to Congress on whether the system is properly limited to targeting non-Americans abroad. The Attorney General must also issue new rules within 60 days to give members of Congress better access to the secret surveillance court's proceedings.