The Protecting Our Farms and Homes from China Act prohibits Chinese entities and individuals affiliated with the Chinese government from acquiring, leasing, or owning agricultural land and residential property in the United States. The bill requires any Chinese entities currently holding such properties to divest within one year (with letters of intent due within 180 days), with penalties of $100 per acre per day for agricultural land violations and $1,000 per day for residential property violations. The bill imposes criminal penalties of up to five years in prison and provides for forfeiture and public auction of illegally held properties. The agricultural land prohibition is permanent, while the residential property ban lasts two years but can be extended by the President. The Departments of Agriculture and Commerce must establish compliance offices and issue guidance within 180 days of enactment, and Commerce must report to Congress on the residential real estate market impacts within 540 days.
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