Foreign Investment Regulatory Commission Act
Latest action. Referred to House Committee on Interstate and Foreign Commerce.
Foreign Investment Regulatory Commission Act - Sets forth the purposes of this Act. Establishes the Foreign Investment Regulatory Commission. Provides that except as the Commission shall by rule determine: (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 in such business; (2) if on the date of enactment of this Act, one or more foreign investors have a controlling interest in an American business, the Commission may order one or more of such foreign investors to sell, to persons who are not foreign investors, a portion of their interest in such business sufficient to assure that foreign investors do not have controlling interest in such business; (3) no person who is a foreign investor may invest in any calendar year in one or more American businesses an amount which exceeds $100,000,000 in the aggregate; (4) the Commission may, by rule or order, prohibit any foreign investor from acquiring any interest in an American business or class of American business which it determines affects national security or the economic interest stability of the United States. Authorizes the Commission to issue exemptions from the provisions specified above with respect to: (1) any foreign investors or class of American businesses, except that in no case may the Commission issue an exemption under this subsection with respect to any American business which it finds affects national security or the economic interest or stability of the United States and which has annual gross revenues in excess of $50,000,000. Requires that not later than April 1 of each year, the Commission shall transmit to the President and to each House of Congress an annual report. States that such report shall contain a detailed statement of the activities of the Commission in the preceeding year, together with its recommendations for such legislation as it deems appropriate.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on December 18, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on December 18, 1974: Referred to House Committee on Interstate and Foreign Commerce.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
WILLIAM GUNTER (D-FL) introduced it on December 18, 1974, and 8 members have since signed on as cosponsors.
They come from both major parties: 4 Democrats, 4 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on December 18, 1974, 18894 days ago. The most recent recorded action was 18894 days ago, on December 18, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers