HR 4831
107th Congress
House
Government Operations and Politics
Commerce
Corporate mergers
Debarment of government contractors
Finance and Financial Sector
Foreign Trade and International Finance
Foreign corporations
Partnerships
Stock exchanges
Stockholders
Stocks
Patriotic Purchasing Act of 2002
Introduced: May 23, 2002
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 23, 2002
Referred to the House Committee on Government Reform.
May 23, 2002
Introduced in House
Plain-English summary
Patriotic Purchasing Act of 2002 - Prohibits any foreign corporation that acquires a domestic corporation or partnership on or after the date that is ten years before this Act's enactment from being eligible to be awarded a Federal contract if immediately after such transaction, more than 80 percent of the stock of the acquiring corporation is held by former shareholders or partners of the domestic corporation or partnership. Substitutes 50 percent for 80 percent if: (1) the acquiring corporation does not have substantial business activities in the foreign country in which or under the law of which such corporation is created or organized; and (2) the stock of such corporation is publicly traded and the principal market for trading it is in the United States.
What's happening now
Referred to the House Committee on Government Reform.
Committees of jurisdiction
1