This bill strengthens national security oversight of real estate purchases by foreign entities considered threats to the United States. It amends the Defense Production Act to require the Committee on Foreign Investment in the United States to review and potentially block real estate transactions involving foreign adversaries that exceed one million dollars or 100 acres, or when combined purchases over three years meet those thresholds. The legislation affects foreign entities of concern as defined in existing law, particularly those linked to countries like China, Russia, and Iran, and applies to both public and private property sales and leases. The bill requires the Director of National Intelligence to submit reports to Congress within 180 days and annually thereafter detailing all covered real estate transactions and analyzing national security risks such as potential espionage or proximity to critical infrastructure. Additionally, the legislation directs federal agencies to develop best practices for state and local officials when negotiating transactions with foreign entities of concern, ensuring coordination across all levels of government on foreign investment security.
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