This bill aims to better protect sensitive U.S. government sites and critical infrastructure during real estate deal reviews. It tells the Committee on Foreign Investment in the United States (CFIUS) to keep an up-to-date, yearly list of government facilities and property that are sensitive, and to report on transactions tied to those sites. It also updates what counts as a “covered” real estate transaction under existing law.

Every year by January 31, each agency on CFIUS must review its own list of sensitive sites and send any updates to the CFIUS chair. The annual report must include all notices, declarations, and reviews connected to those sites. If asked, the chair must provide a classified briefing to certain Members of Congress.

• Who is affected: CFIUS member agencies; companies or investors involved in real estate deals connected to sensitive government sites; certain Members of Congress for oversight.
• What changes: Annual list updates of sensitive sites; yearly reporting on related filings and reviews; ability for Congress to request classified briefings; clarification to which real estate deals are covered under the law.
• When: Reviews are due every year by January 31, with ongoing annual reporting.