Protecting Against Foreign Adversary Investments Act of 2024
This bill amends the Defense Production Act of 1950 to better address real estate transactions involving foreign entities of concern. It mandates a review by CFIUS for purchases or leases of real estate exceeding $1 million in value or 100 acres in size. The goal is to assess national security risks, including potential industrial espionage or disruptions near critical infrastructure.
Key points
Expands CFIUS authority to review real estate transactions exceeding $1 million in value or 100 acres if a foreign entity of concern is involved.
Requires parties to such real estate transactions to submit a mandatory declaration to CFIUS.
Mandates the Director of National Intelligence to develop best practices for State and local officials regarding potential transactions with foreign entities of concern.
Requires annual reports describing national security risks associated with the purchase or lease of real estate by foreign entities of concern.
Status:
Expired
Civic Will
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.