An Act to supplement the authority of the President to collect regular and periodic information on international investment.
PL 94-472 (S.2839), enacted 10/11/1976

PUBLIC LAW 94-472—OCT. 11, 1976 
90 STAT. 2059 
Public Law 94-472 
94th Congress 
An Act 
To supplement the authority of the President to collect regular and periodic 
information on international investment. 
Be it enacted by the Senate and House of Representatives 
of the 
United States of America in Congress 
assembled^ 
SHORT TITLE 
SECTION 1. This Act niav be cited as the "International Investment 
Survey Act of 1976". 
FINDINGS AND PURPOSE 
SEC. 2. (a) The Congress finds and declares that— 
(1) the United States Government is presently authorized to 
collect limited amounts of information on United States invest-
ment abroad and foreign investment in the United States; 
(2) international 
investment has increased rapidly 
within 
recent years; 
(3) such investment significantly aflfects the economies of the 
United States and other nations; 
(4) international eli'orts to obtain information on the activities 
of multinational enterprises and other international investors 
have accelerated recently; 
(5) the potential consequences of international investment 
cannot be evaluated accurately because the United States Gov-
ernment lacks sufficient information on such investment and its 
actual or possible effects on the national security, commerce, 
employment, inflation, general welfare, and foreign policy of the 
United States; 
(6) accurate and comprehensive information on international 
investment is needed by the Congress to develop an informed 
United States policy on such investment; and 
(7) existing estimates of international investment, collected 
under existing legal authority, are limited in scope and are based 
on outdated statistical bases, reports, and information which are 
insufficient for policy formulation and decisionmaking. 
(b) It is therefore the purpose of this Act to provide clear and 
unambiguous authority for the President to collect information on 
international investment and to provide analyses of such information 
to the Congress, the executive agencies, and the general public. I t is 
the intent of the Congress that information which is collected from 
the public under this Act be obtained with a minimum burden on 
business and other respondents and with no unnecessary duplication 
of effort, consistent with the national interest in obtaining compre-
hensive and reliable information on international investment. 
(c) Nothing in this Act is intended to restrain or deter foreign invest-
ment in the United States or United States investment abroad. 
Oct. 11, 1976 
[S. 28391 
International 
Investment 
Survey Act of 
1976. 
22 use 3101 
note. 
22 use 3101. 
U.S. and foreign 
investment 
information. 
Presidential 
authority. 
Information 
analyses, 
availability. 
90 STAT. 2060 
PUBLIC LAW 94-472—OCT. 11, 1976 
DEFINITIONS 
22 use 3102. 
SEC. 3. As used in this Act, the term— 
(1) "United States", when used in a geographic sense, means 
the several States, the District of Columbia, the Commonwealth 
of Puerto Rico, the Canal Zone, and all territories and possessions 
of the United States; 
(2) "foreign", when used in a geographic sense, means that 
which is situated outside the United States or which belongs to or 
is characteristic of a country other than the United States; 
(3) "person" means any individual, branch, partnership, associ-
ated group, association, estate, trust, corporation, or other organi-
zation (whether or not organized under the laws of any State), 
and any government (including a foreign government, the United 
States Government, a State or local government, and any agency, 
corporation, financial institution, or other entity or instrumen-
tality thereof, including a government-sponsored agency); 
(4) "United States person" means any person resident in the 
United States or subject to the jurisdiction of the United States; 
(5) "foreign person" means any person resident outside the 
United States or subject to the jurisdiction of a country other than 
the United States; 
(6) "business enterprise" means any organization, association, 
branch, or venture which exists for profitmaking purposes or to 
otherwise secure economic advantage, and any ownership of any 
real estate; 
(7) "parent" means a person of one country who, directly or 
indirectly, owns or controls 10 per centum or more of the voting 
stock of an incorporated business enterprise, or an equivalent own-
ership interest in an unincorporated business enterprise, which is 
located outside that country; 
(8) "affiliate" means a business enterprise located in one country 
which is directly or indirectly owned or controlled by a person 
of another country to the extent of 10 per centum or more of its 
voting stock for an incorporated business or an equivalent interest 
for an unincorporated business, including a branch; 
(9) "international investment" means (A) the ownership or 
control, directly or indirectly, by contractual commitment or 
otherwise, by foreign persons of any interest in property in the 
United States, or of stock, other securities, or short- and long-term 
debt obligations of a United States person, and (B) the ownership 
or control, directly or indirectly, by contractual commitment or 
otherwise, by United States persons of any interest in property 
outside the United States, or of stock, other securities, or short-
and long-term debt obligations of a foreign person; 
(10) "direct investment" means the ownership or control, 
directly or indirectly, by one person of 10 per centum or more of 
the voting securities of an incorporated business enterprise or an 
equivalent interest in an unincorporated business enterprise; and 
(11) "portfolio investment" means any international investment 
which is not direct investment. 
AUTHORITY AND DUTIES 
22 use 3103. 
SEC. 4. (a) The President shall, to the extent he deems necessary and 
feasible— 
Data collection 
(1) conduct a regular data collection program to secure cur-
program, 
rent information on international capital flows and other infor-
mation related to international investment, including (but not 
limited to) such information as may be necessary for comput-
PUBLIC LAW 94-472—OCT. 11, 1976 
90 STAT. 2061 
ing and analyzing the United States balance of payments, the 
employment and taxes of United States parents and affiliates, and 
the international investment 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 inter-
national investment which may have significant implications for 
the economic welfare and national security of the United States; 
(3) study the adequacy of information, disclosure, and report-
ing requirements and procedures relating to international 
investment; recommend necessary improvements in information 
recording, collection, and retrieval and in statistical analysis and 
presentation relating to international investment; and report 
periodically to the Committees on Foreign Relations and Com-
merce of the Senate and the Committee on International Relations 
of the House of Representatives on national and international 
developments with respect to laws and regulations affecting inter-
national investment; and 
(4) publish for the use of the general public and United States 
Government agencies periodic, regular, and comprehensive statis-
tical information collected pursuant to this subsection and to the 
benchmark surveys conducted pursuant to subsections (b) and (c). 
(b) 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, 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, includ-
ing the ^oss 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 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 tech-
nology between parents and their affiliates, and payments or other 
compensation received by parents or affiliates from the transfer 
of technology to other persons. 
(c) (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 conduct a benchmark survey of 
Studies and 
surveys. 
Periodic report 
to congressional 
committees. 
Statistical 
information, 
publication. 
Benchmark 
survey. 
Financial data. 
Employment 
data. 
Foreign portfolio 
investment, 
benchmark 
survey. 
U.S. portfolio 
investment 
abroad, 
benchmark 
survey. 
89-194 O—78—pt. 2 
38 
90 STAT. 2062 
PUBLIC LAW 94-472—OCT. 11, 1976 
Presidential 
report to 
Congress. 
Land data 
system. 
Findings and 
conclusions, 
submittal to 
Congress. 
Reporting and 
recordkeeping. 
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 port-
folio 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 the date of enactment of this Act. After comple-
tion of such survey, the President shall report to the Congress on the 
feasibility and desirability of conducting, on a periodic basis, addi-
tional 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. 
(d) The President shall conduct a study of the feasibility of estab-
lishing 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 
the enactment of this Act. 
(e) Activities shall be conducted so that information obtained pur-
suant to this Act shall be timely and useful in the development of 
policy with respect to international investment. Reporting and record-
keeping requirements imposed under this Act shall be designed in 
order to minimize costs to the extent feasible, consistent with effective 
enforcement and the compilation of information required by this Act. 
Reporting, recordkeeping, and documentation requirements shall be 
periodically reviewed and revised in the light of developments in the 
field of information technology. 
(f) In collecting information under this Act, the President shall 
^ive 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. 
22 use 3104. 
Recordkeeping. 
Reports. 
RI7L£S AND REGULATIONS; ACCESS TO INFORMATION 
SEC. 5. (a) The authorities and responsibilities under this Act may 
be exercised through such rules and regulations as may be necessary 
to carry out the purposes of this Act. 
(b) Rules or regulations issued pursuant to this Act may require 
any person subject to the jurisdiction of the United State.s— 
(1) to maintain a complete record of any information (includ-
ing journals or other books of original entry, minute books, stock 
transfer records, lists of shareholders, or financial statements) 
which is essential to carrying out the international investment 
surveys and studies to be conducted under this Act; and 
(2) to furnish, under oath, any report containing information 
which is determined to be necessary to carry out the international 
investment surveys and studies conducted under this Act. 
(c) Access to information obtained under subsection (b) (2) of this 
section shall be available only to officials or employees designated to 
perform functions under this Act, including consultants and persons 
working on contracts awarded pursuant to this Act. Subject to the 
limitation of paragraph (1) of this subsection, the President may 
authorize the exchange between agencies or officials designated by him 
of information furnished by any person under this Act as he deems 
necessary to carry out the purposes of this Act. Nothing in this section 
PUBLIC LAW 94-472—OCT. 11, 1976 
90 STAT. 2063 
Information 
disclosure, 
limitations. 
shall be construed to rec[uire any Federal agency to disclose to any 
official exercising authority under this Act any information or report 
collected under legal authority other than this Act where disclosure is 
prohibited by law. Information collected pursuant to subsection (b) 
(2) may be used only— 
(1) for analytical or statistical purposes within the United 
States Government; or 
(2) for the purpose of a proceeding under subsection (d) of 
this section or under section 6 (b) or (c). 
No official or employee designated to perform functions under this 
Act, including consultants and persons working on contracts awarded 
pursuant to this Act, may publish or make available to any other per-
son any information collected pursuant to subsection (b) (2) in a 
manner that the person who furnished the information can be specifi-
cally identified except as provided in this section. No person can com-
pel the submission or disclosure of any report or constituent part 
thereof collected pursuant to this Act, or any copy of such report or 
constituent part thereof, without the prior written consent of the per-
son who maintained or furnished such report under subsection (b) 
and without prior written consent of the customer, where the person 
who maintained or furnished such report included information iden-
tifiable as being derived from the records of such customer. 
(d) Any person who willfully violates subsection (c) shall, upon Penalty 
conviction, be fined not more than $10,000, in addition to any other 
penalty imposed by law. 
ENFORCEMENT 
SEC. 6. (a) Whoever fails to furnish any information requii-ed under 
this Act, whether required to be furnished in the form of a report or 
otherwise, or to comply with any rule, regulation, order, or instruc-
tion promulgated under this Act, may be subject to a civil penalty not 
exceeding $10,000 in a proceeding brought under subsection (b) of this 
section. 
(b) Whenever it appears that any person has failed to furnish any 
information required under this Act, whether required to be furnished 
in the form of a report or otherwise, or has failed to comply with any 
rule, regulation, order, or instruction promulgated under this Act, a 
civil action may be brought in an appropriate district court of the 
United States, or the appropriate United States court of any territory 
or other place subject to the jurisdiction of the United States, and such 
court may enter a restraining order or a permanent or temporary 
injunction commanding such person to furnish such information or to 
comply with such rule, regulation, order, or instruction, as the case 
may be, or impose the civil penalty provided in subsection (a) of this 
section, or both. 
(c) Whoever willfully fails to submit any information required 
under this Act, whether required to be furnished in the form of a 
report or otherwise, or willfully violates any rule, regulation, order, or 
instruction promulgated under this Act, upon conviction, shall be 
fined not more than $10,000 and, if an individual, may be imprisoned 
for not more than one year, or both, and any officer, director, employee,-
or agent of any corporation who knowingly participates in such viola-
tion, upon conviction, may be punished by a like fine, imprisonment, 
or both. 
Failure to 
furnish 
information. 
Penalties. 
22 use 3105. 
Failure to 
submit 
information. 
Penalty. 
90 STAT. 2064 
PUBLIC LAW 94-472—OCT. 11, 1976 
Compensation. 
22 use 3106. 
Independent 
public advisory 
committees, 
creation. 
22 use 3107. 
Annual report 
to eongress. 
USE OF EXPERTS AND ADMINISTRATIVE SUPPORT SERVICES 
SEC. 7. (a) Any official designated by the President to carry out this 
Act may procure the temporary or intermittent services of experts and 
consultants in accordance with the provisions of section 3109 of title 5, 
United States Code. Persons so employed shall receive compensation 
at a rate not in excess of the maximum amount payable under such sec-
tion. While away from his home or regular place of business and 
engaged in the performance of services in conjunction with the provi-
sions of this Act, any such person may be allowed travel expenses, 
including per diem in lieu of subsistence, as authorized by section 
5703(b) of title 5, United States Code, for persons in the Government 
service employed intermittently. 
(b) Any official designated by the President to carry out this Act 
may use, on a reimbursable basis when appropriate (as determined by 
the President), the available services, equipment, personnel, and facili-
ties of any agency or instrumentality of the United States 
Government. 
CONSULTATIONS AND REVIEWS 
SEC. 8. (a) Officials performing functions pursuant to this Act shall 
secure balanced, diverse, and responsible views from qualified persons 
representing business, organized labor, and the academic community 
and may, where appropriate, create such independent public advisory 
committees as are necessary to carry out the purposes of this Act. 
(b) It shall be the responsibility of the Council on Intei-national 
Economic Policy to review the results of any studies and surveys con-
ducted pursuant to this Act and report annually to the Committee on 
International Relations of the House of Representatives and the 
approjjriate committees of the Senate on any trends or developments 
which may have national policy implications and which in the Coun-
cil's opinion warrant the review of the respective committees. 
22 use 3108. 
AUTHORIZATION OF APPROPRIATIONS 
SEC. 9. To carry out this Act, there is authorized to be appropriated 
$1,000,000 for the fiscal year ending September 30,1978, and $1,000,000 
for the fiscal year ending September 30, 1979. 
Approved October 11, 1976. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 94-1490 (Comm. on International Relations). 
SENATE REPORT No. 94-834 (eomm. on Commerce). 
CONGRESSIONAL RECORD, Vol. 122 (1976): 
May 18, considered and passed Senate. 
Sept. 21, considered and passed House, amended. 
Sept. 28, Senate concurred in House amendments.