This bill directs the President to ban Chinese citizens and Chinese government-controlled entities from purchasing real estate in the United States, effective immediately upon enactment. The legislation also requires the President to force the sale of any real estate currently owned by these individuals or entities if it poses a national security risk, with a one-year deadline to divest. The bill includes narrow exceptions for Chinese refugees or asylees and protects property owned by U.S. citizens and permanent residents. Additionally, the bill amends the Agricultural Foreign Investment Disclosure Act to expand penalties for foreign ownership of agricultural land by lowering the threshold for violations from 25 percent to as low as 10 percent ownership. No specific funding is allocated in the bill, as it primarily tasks the President with implementing enforcement mechanisms through executive action.
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