H.R.4959 - Reciprocity and Fairness in Foreign Investment Act109th Congress (2005-2006)
|Sponsor:||Rep. Turner, Michael R. [R-OH-3] (Introduced 03/14/2006)|
|Committees:||House - Financial Services; International Relations; Energy and Commerce|
|Latest Action:||House - 04/21/2006 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4959 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (03/14/2006)
Reciprocity and Fairness in Foreign Investment Act - Permits a foreign person owned or controlled by a foreign government to acquire ownership in either a business, or in real property in the United States, but only to the same extent as that foreign government allows U.S. persons to acquire ownership in comparable enterprises organized under the laws of that foreign country.
Subjects investment and operation of critical infrastructure in the United States by such a foreign person to the same reciprocity requirements.
Directs the Secretary of the Treasury to issue implementing regulations.
Establishes civil penalties for violations of this Act.