To amend the Emergency Steel Loan Guarantee Act of 1999 to prohibit steel companies receiving loan guarantees from investing the loan proceeds in foreign steel companies and using the loan proceeds to import steel products from foreign countries that are subject to certain trade remedies.

H.R. 851 would place new restrictions on how American steel companies use federally guaranteed loans. Under this bill, companies receiving these loans would be prohibited from investing the money in foreign manufacturing facilities or using the funds to import steel products from countries currently subject to U.S. trade penalties. The legislation aims to ensure that government-backed financial support is used exclusively to bolster domestic production and protect American jobs rather than subsidizing international competitors. Companies found in violation of these rules would be subject to civil financial penalties.