[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC3103]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 46--INTERNATIONAL INVESTMENT AND TRADE IN SERVICES SURVEY
Sec. 3103. Presidential authority and duties
(a) Data collection program; studies and surveys; periodic report to
Congressional committees; statistical information publication
The President shall, to the extent he deems necessary and feasible--
(1) conduct a regular data collection program to secure current
information on international capital flows and other information
related to international investment and trade in services, including
(but not limited to) such information as may be necessary for
computing and analyzing the United States balance of payments, the
employment and taxes of United States parents and affiliates, and
the international investment and trade in services position of the
United States;
(2) conduct such studies and surveys as may be necessary to
prepare reports in a timely manner on specific aspects of
international investment and trade in services which may have
significant implications for the economic welfare and national
security of the United States;
(3) study the adequacy of information, disclosure, and reporting
requirements and procedures relating to international investment and
trade in services; recommend necessary improvements in information
recording, collection, and retrieval and in statistical analysis and
presentation; and report periodically to the Committees on Finance
\1\ Foreign Relations \1\ and Commerce of the Senate and the
Committees on Ways and Means, Energy and Commerce, and Foreign
Affairs of the House of Representatives on national and
international developments with respect to laws and regulations
affecting international investment and trade in services;
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\1\ So in original. Probably should be followed by a comma.
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(4) conduct (not more frequently than once every five years and
in addition to any other surveys conducted pursuant to paragraphs
(1) and (2)) benchmark surveys with respect to trade in services
between unaffiliated United States persons and foreign persons; and
(5) publish for the use of the general public and United States
Government agencies periodic, regular, and comprehensive statistical
information collected pursuant to this subsection and to the
benchmark surveys conducted pursuant to subsections (b) and (c) of
this section, including, with respect to foreign direct investment
in the United States, information on ownership by foreign
governments of United States affiliates by country, and tables, on
an aggregated basis, of business enterprises the ownership or
control of which by foreign persons is more than 50 percent of the
voting securities or other evidences of ownership of such
enterprises, and business enterprises the ownership or control of
which by foreign persons is 50 percent or less of the voting
securities or other evidences of ownership of such enterprises.
(b) Benchmark survey of United States direct investment abroad and
foreign direct investment in United States
With respect to foreign direct investment in the United States, the
President shall conduct a benchmark survey covering year 1980, a
benchmark survey covering year 1987, and benchmark surveys covering
every fifth year thereafter. With respect to United States direct
investment abroad, the President shall conduct a benchmark survey
covering year 1982, a benchmark survey covering year 1989, and benchmark
surveys covering every fifth year thereafter. In conducting surveys
pursuant to this subsection, the President shall, among other things and
to the extent he determines necessary and feasible--
(1) identify the location, nature, and magnitude of, and changes
in total investment by any parent in each of its affiliates and the
financial transactions between any parent and each of its
affiliates;
(2) obtain (A) information on the balance sheet of parents and
affiliates and related financial data, (B) income statements,
including the gross sales by primary line of business (with as much
product line detail as is necessary and feasible) of parents and
affiliates in each country in which they have significant
operations, and (C) related information regarding trade (including
trade in both goods and services) between a parent and each of its
affiliates and between each parent or affiliate and any other
person;
(3) collect employment data showing both the number of United
States and foreign employees of each parent and affiliate and the
levels of compensation, by country, industry, and skill level;
(4) obtain information on tax payments by parents and affiliates
by country; and
(5) determine, by industry and country, the total dollar amount
of research and development expenditures by each parent and
affiliate, payments or other compensation for the transfer of
technology between parents and their affiliates, and payments or
other compensation received by parents or affiliates from the
transfer of technology to other persons.
(c) Benchmark survey of foreign portfolio investment in United States
and United States portfolio investment abroad; report to
Congress
(1) The President shall conduct a comprehensive benchmark survey of
foreign portfolio investment in the United States at least once every
five years and, for such purposes, shall (among other things and to the
extent he determines necessary and feasible) determine the magnitude and
aggregate value of portfolio investment, form of investments, types of
investors, nationality of investors and recorded residence of foreign
private holders, diversification of holdings by economic sector, and
holders of record.
(2) In addition to the benchmark surveys conducted pursuant to
paragraph (1), the President shall annually compile currently available
data on United States portfolio investment abroad including items such
as data on the magnitude and aggregate value of portfolio investment,
form of investments, types of investors, nationality of investors and
recorded residence of private holders, diversification of holdings by
economic sector, and holders of record. The President shall submit an
analysis of such data to the Congress not later than the first day of
July of each year.
(d) Foreign agricultural and real property investment and land data
system: study; submittal of findings and conclusions to Congress
The President shall conduct a study of the feasibility of
establishing a system to monitor foreign direct investment in
agricultural, rural, and urban real property, including the feasibility
of establishing a nationwide multipurpose land data system, and shall
submit his findings and conclusions to the Congress not later than two
years after October 11, 1976.
(e) Report on cost of monitoring and compiling data on legislation
enacted by foreign nations regulating and restricting foreign
inward investment
The Secretary of Commerce shall prepare a report on the estimated
cost of monitoring and compiling data on legislation enacted by the
major trading partners of the United States, and such other foreign
nations as the Secretary deems appropriate, which regulates or restricts
foreign inward investment in such foreign nations.
(f) Reporting, recordkeeping, and documentation
Activities shall be conducted so that information obtained pursuant
to this chapter shall be timely and useful in the development of policy
with respect to international investment and trade in services.
Reporting and recordkeeping requirements imposed under this chapter
shall be designed in order to minimize costs to the extent feasible,
consistent with effective enforcement and the compilation of information
required by this chapter. Reporting, recordkeeping, and documentation
requirements shall be periodically reviewed and revised in the light of
developments in the field of information technology.
(g) Costs for collecting information
In collecting information under this chapter, the President shall
give due regard to the costs incurred by persons supplying such
information, as well as to the costs incurred by the Government, and
shall insure that the information collected is only in such detail as is
necessary to fulfill the stated purposes for which the information is
being gathered.
(h) Bureau of Economic Analysis report
(1) The President, or the designee of the President responsible for
monitoring the impact of foreign investment in the United States,
coordinating implementation of United States policy on investment, and
investigating foreign acquisitions under section 2170 of title 50,
Appendix, may request a report from the Bureau of Economic Analysis of
the Department of Commerce. When such request is made in connection with
an investigation under such section 2170, the report shall be provided
within 14 days after the request is made. When such request is not made
in connection with an investigation under such section 2170, the report
shall be provided within 60 days after the request.
(2) A report requested under paragraph (1) shall contain the best
available information on the extent of foreign direct investment in a
given industry, including a breakdown of total investment in the
industry, and any foreign government investment in the industry, by
country of the foreign owner, and any other information that the Bureau
of Economic Analysis or such designee of the President considers
relevant. The industry information provided shall be at the most
detailed level available of Standard Industrial Classification, subject
to the requirements of section 3104 of this title.
(Pub. L. 94-472, Sec. 4, Oct. 11, 1976, 90 Stat. 2060; Pub. L. 95-381,
Sec. 2, Sept. 22, 1978, 92 Stat. 726; H. Res. 89, Feb. 5, 1979; Pub. L.
97-33, Secs. 1-3, Aug. 7, 1981, 95 Stat. 170; Pub. L. 97-70, Oct. 26,
1981, 95 Stat. 1045; Pub. L. 98-573, title III, Sec. 306(b)(3), (4),
Oct. 30, 1984, 98 Stat. 3010; Pub. L. 101-533, Sec. 6(b), (c), Nov. 7,
1990, 104 Stat. 2348.)
Amendments
1990--Subsec. (a)(5). Pub. L. 101-533, Sec. 6(b), inserted before
period at end ``, including, with respect to foreign direct investment
in the United States, information on ownership by foreign governments of
United States affiliates by country, and tables, on an aggregated basis,
of business enterprises the ownership or control of which by foreign
persons is more than 50 percent of the voting securities or other
evidences of ownership of such enterprises, and business enterprises the
ownership or control of which by foreign persons is 50 percent or less
of the voting securities or other evidences of ownership of such
enterprises''.
Subsec. (h). Pub. L. 101-533, Sec. 6(c), added subsec. (h).
1984--Subsec. (a)(1), (2). Pub. L. 98-573, Sec. 306(b)(4)(A)(ii),
inserted ``and trade in services'' after ``international investment''
wherever appearing.
Subsec. (a)(3). Pub. L. 98-573, Sec. 306(b)(3), (4)(A)(i)-(iii),
inserted reference to the Committee on Finance of the Senate and the
Committees on Ways and Means and Energy and Commerce of the House of
Representatives, and substituted ``presentation'' for ``presentation
relating to international investment'', inserted ``and trade in
services'' after ``international investment'' in two places, and struck
out ``and'' at end.
Subsec. (a)(4), (5). Pub. L. 98-573, Sec. 306(b)(4)(A)(iv), (v),
added par. (4) and redesignated former par. (4) as (5).
Subsec. (b)(2)(C). Pub. L. 98-573, Sec. 306(b)(4)(B), inserted
``(including trade in both goods and services)'' after ``regarding
trade''.
Subsec. (f). Pub. L. 98-573, Sec. 306(b)(4)(C), inserted ``and trade
in services'' after ``international investment''.
1981--Subsec. (b). Pub. L. 97-70 substituted ``year'' for ``calendar
year'' in five places in provisions preceding par. (1).
Pub. L. 97-33, Sec. 1, substituted ``With respect to foreign direct
investment in the United States, the President shall conduct a benchmark
survey covering calendar year 1980, a benchmark survey covering calendar
year 1987, and benchmark surveys covering every fifth calendar year
thereafter. With respect to United States direct investment abroad, the
President shall conduct a benchmark survey covering calendar year 1982,
a benchmark survey covering calendar year 1989, and benchmark surveys
covering every fifth year thereafter. In conducting surveys pursuant to
this subsection, the President shall,'' for ``With respect to the United
States direct investment abroad and foreign direct investment in the
United States, the President shall conduct a comprehensive benchmark
survey at least once every five years and, for such purpose, shall,'' in
provisions preceding par (1).
Subsec. (c)(2). Pub. L. 97-33, Sec. 2, substituted ``the President
shall annually compile currently available data on United States
portfolio investment abroad including items such as data on the
magnitude and aggregate value of portfolio investment, form of
investments, types of investors, nationality of investors and recorded
residence of private holders, diversification of holdings by economic
sector, and holders of record. The President shall submit an analysis of
such data to the Congress not later than the first day of July of each
year'' for ``the President shall conduct a benchmark survey of United
States portfolio investment abroad and, for such purpose, shall (among
other things and to the extent he determines necessary and feasible)
determine the magnitude and aggregate value of portfolio investment,
form of investments, types of investors, nationality of investors and
recorded residence of private holders, diversification of holdings by
economic sector, and holders of record. The President shall complete
such survey not later than the end of the five-year period beginning on
October 11, 1976. After completion of such survey, the President shall
report to the Congress on the feasibility and desirability of
conducting, on a periodic basis, additional benchmark surveys of United
States portfolio investment abroad. If he determines that such
additional benchmark surveys are feasible and desirable, he may conduct
such surveys''.
Subsecs. (e) to (g). Pub. L. 97-33, Sec. 3, added subsec. (e) and
redesignated subsecs. (e) and (f) as (f) and (g), respectively.
1979--Subsec. (a)(3). H. Res. 89 changed name of Committee on
International Relations of the House of Representatives to Committee on
Foreign Affairs.
1978--Subsec. (d). Pub. L. 95-381 substituted provisions setting
forth requirements respecting interim and final reports to Congress, for
provisions requiring submission of findings and conclusions to Congress
not later than two years after Oct. 11, 1976.
Change of Name
Committee on Energy and Commerce of House of Representatives treated
as referring to Committee on Commerce of House of Representatives and
Committee on Foreign Affairs of House of Representatives treated as
referring to Committee on International Relations of House of
Representatives by section 1(a) of Pub. L. 104-14, set out as a note
preceding section 21 of Title 2, The Congress. Committee on Commerce of
House of Representatives changed to Committee on Energy and Commerce of
House of Representatives, and jurisdiction over matters relating to
securities an
