Sponsors (3)
The bill strengthens protection of military sites and critical infrastructure by expanding CFIUS/DoD/DOT review authorities, but does so at the expense of slower transactions, higher costs, and greater regulatory uncertainty for property owners, developers, and foreign investors.
Military personnel, utilities, and the public: foreign purchases/leases near military installations and foreign-invested sites for energy infrastructure will be subject to CFIUS review and DOT withholding of approvals until risks are resolved, reducing the chance of foreign access or influence near bases and other critical infrastructure.
State and local elected officials: State Senators and the House member representing a district will receive notifications about covered transactions in their districts, improving local congressional oversight and awareness of proposed foreign-involved property deals.
Federal agencies and reviewers: clearer coordination among DoD, DOT, and CFIUS should improve interagency decision-making so security concerns are considered earlier in the permitting and construction process.
Utilities, project developers, property owners, and consumers: extended CFIUS reviews and holds on DOT approvals will lengthen project timelines and raise costs, likely slowing energy and property development and increasing costs passed to taxpayers and consumers.
Foreign and real-estate investors: increased regulatory barriers and uncertainty for transactions near military sites may reduce inbound investment and raise transaction costs.
Homeowners and small-business owners near military areas: expanded federal review may subject private property to greater scrutiny and could reduce market values, raising concerns about property rights and losses in equity.
Based on analysis of 3 sections of legislative text.
Expands CFIUS review to certain real-estate transactions near military sites, requires CFIUS to initiate reviews, and pauses DoD/DOT actions on related energy projects until review ends.
Introduced April 9, 2025 by Jodey Cook Arrington · Last progress April 9, 2025
Expands CFIUS authority to cover purchases, leases, or concessions of U.S. real estate that are located near military installations, training routes, or certain military airspace and that involve foreign persons tied to certain foreign actors. Requires CFIUS to initiate reviews of those transactions and extends congressional notification rights to include Senators and the Representative for the district of the affected military location. Also pauses related Department of Defense and Department of Transportation reviews or approvals of energy projects sited on such real property until CFIUS completes its review, and requires DoD to make and transmit a national security finding if CFIUS refers the property transaction to the President.