H.R.3726 - To prevent foreign persons from owning national landmarks and areas included in the National Park System.102nd Congress (1991-1992)
|Sponsor:||Rep. Panetta, Leon [D-CA-16] (Introduced 11/06/1991)|
|Committees:||House - Interior and Insular Affairs|
|Latest Action:||House - 02/03/1992 Executive Comment Requested from Interior. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.3726 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (11/06/1991)
Prohibits: (1) a foreign person from holding interests in a national landmark representing more than 50 percent of the value of it; and (2) the Secretary of the Interior from transferring any U.S. right, title, or interest in or to an area of land or water included in the National Park System if, as a result of the transfer, such right, title, or interest would be held directly or indirectly by a foreign person.
Requires a foreign person to register an investment with the Chairman of a corporation if such investment results in them becoming a five percent shareholder in such corporation that directly or indirectly holds a national landmark. Applies a similar rule to interests in any entity other than a corporation.