22 U.S.C. § 3102 — Definitions

Page 1306 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 3102 Editorial Notes AMENDMENTS 1990—Subsec. (b). Pub. L. 101–533 inserted ‘‘to author- ize the collection and use of information on direct in- vestments owned or controlled directly or indirectly by foreign governments or persons,’’ after ‘‘the impact of such investment and trade,’’ in first sentence. 1984—Subsec. (a)(7) to (9). Pub. L. 98–573, § 306(b)(2)(A), added pars. (7) and (8), redesignated former par. (7) as (9), and inserted ‘‘and trade in services’’ after ‘‘inter- national investment’’ in par. (9). Subsec. (b). Pub. L. 98–573, § 306(b)(2)(B), substituted ‘‘international investment and United States foreign trade in services, whether directly or by affiliates, in- cluding related information necessary for assessing the impact of such investment and trade,’’ for ‘‘inter- national investment’’, and ‘‘international investment and trade in services’’ for ‘‘international investment’’. Subsec. (c). Pub. L. 98–573, § 306(b)(2)(C), inserted ref- erence to trade in services. Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 94–472, § 1, Oct. 11, 1976, 90 Stat. 2059, as amended by Pub. L. 98–573, title III, § 306(b)(1), Oct. 30, 1984, 98 Stat. 3009, provided that: ‘‘This Act [enacting this chapter] may be cited as the ‘International Invest- ment and Trade in Services Survey Act’.’’ Executive Documents EX. ORD. NO. 11961. INTERNATIONAL INVESTMENT AND TRADE IN SERVICES Ex. Ord. No. 11961, Jan. 19, 1977, 42 F.R. 4321, as amended by Ex. Ord. No. 12013, Oct. 7, 1977, 42 F.R. 54931; Ex. Ord. No. 12318, Aug. 21, 1981, 46 F.R. 42833; Ex. Ord. No. 12518, June 3, 1985, 50 F.R. 23661, provided: By virtue of the authority vested in me by the Inter- national Investment and Trade in Services Survey Act (90 Stat. 2059, 22 U.S.C. 3101) [this chapter], and section 301 of title 3 of the United States Code, and as Presi- dent of the United States of America, it is hereby or- dered as follows: SECTION 1. All the functions vested in the President by the International Investment and Trade in Services Survey Act (90 Stat. 2059, 22 U.S.C. 3101) [this chapter], hereinafter referred to as the Act, are hereby delegated to the Director of the Office of Management and Budg- et, hereinafter referred to as the Director. The Director may, from time to time, designate other officers or agencies of the Federal Government to perform any or all of the functions hereby delegated to the Director, subject to such instructions, limitations, and direc- tions as the Director deems appropriate. SEC. 2. Subject to the provisions of section 1 of this order, and in the absence of any contrary delegation or direction by the Director, the Secretary of the Treas- ury, with respect to portfolio investment, shall perform the functions set forth in sections 4(a)(1), (2), (5) and 4(c) of the Act [22 U.S.C. 3103(a)(1), (2), (5) and (c)]. SEC. 3. Subject to the provisions of section 1 of this order, and in the absence of any contrary delegation or direction by the Director, the Secretary of Commerce, with respect to direct investment and trade in services, shall perform the functions set forth in sections 4(a)(1), (2), (4), (5) and 4(b) of the Act [22 U.S.C. 3103(a)(1), (2), (4), (5) and (b)]. SEC. 4. Subject to the provisions of section 1 of this order, and in the absence of any contrary delegation or direction by the Director, the Secretary of Commerce shall perform the function of making periodic reports to the Committees of the Congress as set forth in Sec- tion 4(a)(3) of the Act [22 U.S.C. 3103(a)(3)]. § 3102. Definitions As used in this chapter, the term— (1) ‘‘United States’’, when used in a geo- graphic sense, means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Canal Zone, and all terri- tories 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, associated group, association, es- tate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Gov- ernment, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, in- cluding 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 resi- dent outside the United States or subject to the jurisdiction of a country other than the United States; (6) ‘‘business enterprise’’ means any organi- zation, association, branch, or venture which exists for profitmaking purposes or to other- wise secure economic advantage, and any own- ership 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 equiva- lent ownership 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 in- directly owned or controlled by a person of an- other country to the extent of 10 per centum or more of its voting stock for an incorporated business or an equivalent interest for an unin- corporated business, including a branch; (9) ‘‘international investment’’ means (A) the ownership or control, directly or indi- rectly, by contractual commitment or other- wise, 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 indi- rectly, by contractual commitment or other- wise, 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 owner- ship or control, directly or indirectly, by one person of 10 per centum or more of the voting securities of an incorporated business enter- prise or an equivalent interest in an unincor- porated business enterprise; and (11) ‘‘portfolio investment’’ means any inter- national investment which is not direct in- vestment. (Pub. L. 94–472, § 3, Oct. 11, 1976, 90 Stat. 2060.) Page 1307 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 3103 1 So in original. Probably should be followed by a comma. Editorial Notes REFERENCES IN TEXT For definition of Canal Zone, referred to in par. (1), see section 3602(b) of this title. § 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 pro- gram to secure current information on inter- national 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 com- puting and analyzing the United States bal- ance 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 in- vestment 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, dis- closure, and reporting requirements and proce- dures relating to international investment and trade in services; recommend necessary im- provements in information recording, collec- tion, and retrieval and in statistical analysis and presentation; and report periodically to the Committees on Finance 1 Foreign Rela- tions 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 regula- tions affecting international investment and trade in services; (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 peri- odic, regular, and comprehensive statistical information collected pursuant to this sub- section and to the benchmark surveys con- ducted pursuant to subsections (b) and (c), in- cluding, with respect to foreign direct invest- ment 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 per- sons is more than 50 percent of the voting se- curities or other evidences of ownership of such enterprises, and business enterprises the ownership or control of which by foreign per- sons is 50 percent or less of the voting securi- ties or other evidences of ownership of such enterprises. (b) Benchmark survey of United States direct in- vestment abroad and foreign direct invest- ment in United States With respect to foreign direct investment in the United States, the President shall conduct a benchmark survey covering year 1980, a bench- mark 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 bench- mark survey covering year 1982, a benchmark survey covering year 1989, and benchmark sur- veys covering every fifth year thereafter. In con- ducting 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 mag- nitude of, and changes in total investment by any parent in each of its affiliates and the fi- nancial transactions between any parent and each of its affiliates; (2) obtain (A) information on the balance sheet of parents and affiliates and related fi- nancial data, (B) income statements, including the gross sales by primary line of business (with as much product line detail as is nec- essary and feasible) of parents and affiliates in each country in which they have significant operations, and (C) related information re- garding 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 em- ployees 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 develop- ment expenditures by each parent and affil- iate, payments or other compensation for the transfer of technology between parents and their affiliates, and payments or other com- pensation received by parents or affiliates from the transfer of technology to other per- sons. (c) Benchmark survey of foreign portfolio invest- ment in United States and United States portfolio investment abroad; report to Con- gress (1) The President shall conduct a comprehen- sive benchmark survey of foreign portfolio in- vestment in the United States at least once every five years and, for such purposes, shall (among other things and to the extent he deter- mines necessary and feasible) determine the magnitude and aggregate value of portfolio in- vestment, form of investments, types of inves- tors, nationality of investors and recorded resi- dence of foreign private holders, diversification of holdings by economic sector, and holders of record. (2) In addition to the benchmark surveys con- ducted 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