Foreign Government Investment Control Act

[AI summary unavailable — showing source text] Foreign Government Investment Control Act - Permits a foreign government or enterprise to invest in an American enterprise 60 days after the Secretary of Commerce approves such an investment pursuant to an application if: (1) such investment is an equity or debt obligation in an enterprise whose total consolidated assets are worth more than $100,000,000, and the percentage of ownership by such foreign government or enterprise exceeds 1 percent of the total equity or debt obligations, or the total of all foreign government enterprises exceeds 3 percent of such total; (2) such investment involves acquisition of an enterprise of $10,000,000 or more; or (3) such investment involves real estate worth a fair market value of $4,000,000 or more. Directs the Secretary to determine whether a proposed investment is beneficial to the national interest of the United States by considering the need for economic capital, the creation of any additional employment, and by consulting with other executive department agencies and the Governors of the States to be affected. Permits a foreign government or enterprise to invest in an American enterprise 60 days after the notification of the Secretary if: …