Page:United States Statutes at Large Volume 88 Part 2.djvu/134

 PUBLIC LAW 93-479-OCT. 26, 1974

1450

[88 STAT.

Public Law 93-479 October 26, 1974 [S.2840]

Foreign Investment Study Act of 1974.

15 USC

78b

15 USC

78b

15 USC

78b

note. Study. note.

note.

15 USC

78b

note.

Foreign direct investment, study. 15 USC 78b note.

AN ACT To authorize the Secretary of Commerce and the Secretary of the Treasury to conduct a study of foreign direct aind portfolio investment in the United States, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Foreign Investment Study Act of 1974". SEC. 2. The Secretary of the Treasury and the Secretary of Commerce are hereby authorized and directed to conduct a comprehensive, overall study of foreign direct and portfolio investments in the United States. SEC. 3. The Departments of Commerce and Treasury, in consultation with appropriate agencies, shall determine the definitions and limitations of direct and portfolio investments for the purposes of the study authorized in section 2 of this Act. SEC. 4. In carrying out the study described in section 2 of this Act, the Secretary of Commerce and the Secretary of the Treasury shall, respectively and jointly as may be appropriate— (1) identify and collect such information as may be required to carry out the study authorized in section 2 of this Act; (2) consult with and secure information from (and where appropriate the views of) representatives of industry, the financial community, labor, agriculture, science and technology, academic institutions, public interest organizations, and such other groups as the Secretaries deem suitable; and (3) consult and cooperate with other government agencies. Federal, State, and local, and, to the extent appropriate, with foreign governments and international organizations. SEC. 5. The Secretary of Commerce shall carry out that part of the study authorized in section 2 of this Act relating to foreign direct investment, and shall, among other things, to the extent he determines feasible, specifically— (1) investigate and review the nature, scope, magnitude, and rate of foreign direct investment activities in the United States; (2) survey the reasons foreign firms are undertaking direct investment in the United States; (3) identify the processes and mechanisms through which foreign direct investment flows into the United States, the financing methods used by foreign direct investors, and the effects of such financing on American financial markets; (4) analyze the scope and significance of foreign direct investment in acquisitions and takeovers of existing American enterprises, the significance of such investments in the form of new facilities or joint ventures with American firms, and the effects thereof on domestic business competition; (5) analyze the concentration and distribution of foreign direct investment in specific geographic areas and economic sector's; (6) analyze the effects of foreign direct investment on United States national security, energy, natural resources, agriculture, environment, real property holdings, balance of payments, balance of trade, the United States international economic position, and various significant American product markets; (7) analyze the effect of foreign direct investment in terms of employment opportunities and practices and the activities and influence of foreign and American management executives employed by foreign firms;

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