Summary: H.R.16932 — 93rd Congress (1973-1974)All Information (Except Text)

There is one summary for H.R.16932. Bill summaries are authored by CRS.

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Introduced in House (09/30/1974)

Foreign Investment Regulatory Commission Act - Expresses the findings of Congress and declares the purposes of this Act, including to protect the national security and economy of the United States by regulating foreign investments.

Establishes the Foreign Investment Regulatory Commission. Provides for control of foreign investment through specified requirements, including that: (1) no foreign investor may acquire any interest in any American business if after such acquisition one or more foreign investors have a controlling interest; and (2) no foreign investor may invest in any calendar year in one or more American businesses an amount which exceeds $100,000,000.

Imposes criminal penalties for violations of this Act. Defines the terms used in this Act. Sets forth the membership composition of the Commission, provides for staff and consultants, and enumerates the powers of the Commission.