Foreign Investment Disclosure Act

Summary

Foreign Investment Disclosure Act - Creates a Foreign Investment Administration within the Department of Commerce headed by a Director appointed by the President with the advice and consent of the Senate. Authorizes the Secretary of Commerce to promulgate rules and regulations requiring persons having information on foreign investments to keep records and reports on such investments. Authorizes the Secretary to promulgate procedures for the submission of investments in domestic companies whose equity security is publicly traded if a foreign investor owns, directly or indirectly, five percent or more of such securities. Requires reports of foreign investment in United States companies whose stock is not publicly traded if 10 percent or more and the total assets of such company are $3,000,000 or more. Directs such reports to be filed by a foreign investor if such investment is made in the form of loans, long-term contracts or interests in property, the effect of which is to give the investor a predominant influence on management. Requires reports to be filed concerning any foreign investment in real property with a fair market value in excess of $50,000, with the Secretary having the authority to waive this requirement. Stipulates that reports must be filed with respect to any foreign investments in United States Government or agency securities, notes, certificates of deposit or other marketable instruments exceeding $1,000,000 per issue.

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1 official file

• Introduced in Senate

  summary · EN · 21 March 1975

  Open at official source

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