Foreign Investment Transparency and Security Act of 2006

Foreign Investment Transparency and Security Act of 2006 - Amends the Homeland Security Act of 2002 to provide that a foreign government controlled entity may acquire, own, or otherwise control or manage any critical infrastructure of the United States only through the establishment or operation of a foreign owned general business corporation that meets specified requirements.

Requires a majority of the board of directors of such a corporation and its chief security officer to be U.S. citizens.

Directs the Secretary of Homeland Security to report to Congress on the processes and policies for implementation of a scanning system for 100% of all inbound maritime containers.