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Ban on Real Estate Purchases in US by China Citizens and Entities

This legislation directs the President to prohibit citizens of the People's Republic of China and entities linked to the Chinese government or Communist Party from purchasing public or private real estate in the United States. The President is also authorized to require the sale of existing properties if their ownership poses a national security risk, with exceptions for property held for personal use by US citizens and lawful permanent residents.
Key points
Prohibits future acquisition of US real estate by PRC citizens and CCP-affiliated entities.
Exemptions apply to PRC citizens granted refugee status or asylum in the United States.
Establishes a minimum financial penalty of 10% for failing to disclose foreign investments in US agricultural land.
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Additional Information
Print number: 118_S_1136
Sponsor: Sen. Cotton, Tom [R-AR]
Process start date: 2023-03-30