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HR 5410 100th Congress House Foreign Trade and International Finance Foreign Trade and Investments Foreign investments Foreign ownership of real property Government paperwork Government records, documents, and information Information disclosure (Securities law) Information services Securities and Investments Securities regulation

Foreign Ownership Disclosure Act of 1988

Introduced: September 28, 1988 See on congress.gov
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 Everywhere this bill has been 9 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 7, 1988
Read twice and referred to the Committee on Commerce.
Oct 5, 1988
Received in the Senate.
Oct 5, 1988
Passed House by Yea-Nay Vote: 250 - 170 (Record Vote No: 429).
Oct 5, 1988
Passed/agreed to in House: Passed House by Yea-Nay Vote: 250 - 170 (Record Vote No: 429).
Oct 5, 1988
Rule Passed House.
Oct 4, 1988
Committee on Rules Granted a Modified Closed Rule Providing One Hour of General Debate.
Oct 3, 1988
Referred to Subcommittee on Telecommunications and Finance.
Sep 28, 1988
Referred to House Committee on Energy and Commerce.
Sep 28, 1988
Introduced in House
 Plain-English summary Congressional Research Service

Foreign Ownership Disclosure Act of 1988 - Requires any foreign person who holds or acquires a significant interest in a United States property or a controlling interest in a U.S. business enterprise to register such interest with the Secretary of Commerce. Specifies the information required to be contained in such registration. Requires that any changes in such information be disclosed in an amended registration within a limited period of time. Sets forth penalties for the failure to comply with such registration requirements.

Defines a "significant interest" in U.S. property as more than five percent of the total equity or ownership interests in assets or real property having a market value or gross sales in excess of specified amounts. Defines a "controlling interest" in a U.S. business enterprise as more than 25 percent of the total equity or ownership interests in a business enterprise having assets or gross sales in excess of specified amounts.

Directs the Secretary to submit an annual report to the President and the Congress, concerning: (1) the extent and effects of foreign investment in the United States; and (2) the effectiveness and efficiency of the registration and reporting requirements of this Act.

Directs the Secretary to compile a registry of foreign investments in the United States. Limits access to the information in such registry.

What's happening now October 7, 1988

Read twice and referred to the Committee on Commerce.

 Committees of jurisdiction 3
 Cosponsors 2
All 2 Democratic 2