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Protecting Military Installations: New Rules for Foreign Real Estate Purchases

This act introduces new rules for purchasing or leasing real estate near U.S. military bases and airspace by foreign entities. Its goal is to enhance national security by preventing countries like Russia or China from acquiring land that could threaten military operations. Citizens may experience an indirect impact through strengthened national security.
Key points
Requires review by a special committee (CFIUS) for any real estate purchase or lease within 100 miles of a military installation or 50 miles of military airspace, if the buyer is linked to Russia, China, Iran, or North Korea.
Halts approval of energy projects on land under such review until the committee completes its analysis.
Mandates notification to Congress and local representatives about transactions under review, increasing transparency and oversight.
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Additional Information
Print number: 117_S_1278
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2021-04-21