Stops the Defense Department from entering, renewing, or extending long‑term concession deals that let retailers controlled by a “covered nation” operate on U.S. military bases. A narrow waiver or approval can be used only after specific national security reviews and notifications are completed.

It requires notice to the Committee on Foreign Investment in the United States, security determinations on a set timeline, post‑waiver reporting, and immediate termination if a retailer lies about ownership/control or violates terms. Key terms like “covered retailer,” “controlled by a covered nation,” and “long‑term concessions agreement” are defined to guide implementation.