Summary

Expands CFIUS authority to review foreign purchases, leases, or concessions of real property located near U.S. military installations or within military airspace and requires CFIUS to initiate such reviews on its own authority. It also pauses certain federal approvals for energy and transportation-related projects that involve real property under CFIUS review, requires agency notifications to Congress and local elected officials, and directs the Secretary of Defense to make and transmit an "unacceptable risk" finding if CFIUS refers a covered transaction to the President.

Key Points

• Expands CFIUS jurisdiction to include certain foreign purchases, leases, or concessions of real property near military installations or in military airspace.
• Requires CFIUS to initiate reviews on its own when it becomes aware of covered real property transactions affecting military sites or airspace.
• Mandates notification to the Senators and Representative for the State or District containing the affected military site or airspace.
• Creates a statutory pause on federal approvals for certain energy and transportation projects while the real property is under CFIUS review.
• Directs the Secretary of Defense to make and transmit an "unacceptable risk" finding if CFIUS refers the matter to the President.
• Amends existing Defense and Transportation review statutes to require coordination and delay of approvals during CFIUS actions.
• Increases regulatory and timing uncertainty for foreign investors and for developers of projects located near military installations.
• Focuses on protecting military operations, installations, training space, and airspace from potential foreign influence or interference.

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