S.2516 - Foreign Direct Investment and International Financial Data Improvements Act of 1990101st Congress (1989-1990)
|Sponsor:||Sen. Exon, J. James [D-NE] (Introduced 04/25/1990)(by request)|
|Committees:||Senate - Commerce, Science, and Transportation|
|Committee Reports:||S.Rept 101-443|
|Latest Action:||11/07/1990 Became Public Law No: 101-533. (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.2516 — 101st Congress (1989-1990)All Information (Except Text)
Passed Senate amended (10/19/1990)
Foreign Direct Investment and International Financial Data Improvements Act of 1990 - Requires the Secretary of Commerce (Secretary) to submit to specified congressional committees a report concerning the role and significance of foreign direct investment in the United States.
Authorizes the Comptroller General to review the report and submit to specified congressional committees an analysis of it with recommendations. Provides for the confidentiality of information used in such analysis.
Requires the Bureau of the Census to exchange with the Bureau of Economic Analysis of the Department of Commerce information relating to any business enterprise that operates in the United States if the Secretary determines such information is appropriate to augment and improve the quality of data collected under the International Investment and Trade in Services Survey Act.
Amends such Act to authorize the collection and use of information on direct investments owned or controlled directly or indirectly by foreign governments or persons.
Requires the President to publish for the general public and U.S. agencies information on foreign investment in the United States with tables listing certain businesses (50 percent or more, and 50 percent or less, of whose voting securities are owned or controlled by foreign persons).
Authorizes the President to request from the Bureau of Economic Analysis a report on foreign investment in any given U.S. industry.
Authorizes the Bureau of the Census and the Bureau of Labor Statistics, with respect to augmenting and improving the quality of data they collect, to have access to data relating to business enterprises and international services transactions.
Requires: (1) affirmation under oath of certain reports made pursuant to the International Investment and Trade in Services Survey Act by the officer directly responsible for maintenance and compilation of such information; and (2) certification of their substantial accuracy, except when estimates are provided because accurate data are unavailable or cannot be obtained without undue burden.
Increases, and makes mandatory, the civil penalties for failure to provide information under such Act.
Sets forth requirements and penalties with respect to the confidentiality of and access to information collected under this Act.