S.3955 - Foreign Investment Review Act93rd Congress (1973-1974)
|Sponsor:||Sen. Metzenbaum, Howard M. [D-OH] (Introduced 08/22/1974)|
|Committees:||Senate - Commerce|
|Latest Action:||08/22/1974 Referred to Senate Committee on Commerce.|
This bill has the status Introduced
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Summary: S.3955 — 93rd Congress (1973-1974)All Bill Information (Except Text)
Introduced in Senate (08/22/1974)
Foreign Investment Review Act - Directs the Secretary of Commerce to establish procedures which require maintenance of records and submission of reports by foreign investors who acquire specified interests in domestic businesses and property.
Sets forth what information must be kept and submitted by such investors, including country with which affiliated and extent of ownership in domestic businesses.
Requires that such information shall be made public by the Secretary.
Grants powers to the Secretary to enable him to collect such information.
Establishes penalties for violations of this Act, including injunctive remedies.
Establishes the Foreign Investment Review Administration in the Commerce Department to carry out the provisions of this Act.
Authorizes the appropriation of necessary sums to carry out this Act.