Sponsors (9)
The bill strengthens national-security oversight of foreign real estate near military sites and clarifies interagency review for related energy infrastructure, at the cost of added regulatory burdens, transaction delays, and higher costs for affected investors, homeowners, and energy projects.
Military personnel and base operations: CFIUS can review and block foreign purchases or leases near military installations/training areas, increasing protection of sensitive sites and reducing espionage or safety risks.
Energy developers, utilities, DOT and DoD: Clearer interagency rules require DoD and DOT coordination and pause DOT action during CFIUS reviews, reducing conflicting approvals, improving aviation/structure safety decisions, and giving developers more predictable review timing.
Developers, investors and taxpayers: The bill clarifies CFIUS's statutory authority to scrutinize foreign real estate deals near sensitive airspace/areas, reducing uncertainty about which transactions are reviewable.
Utilities, energy developers, and taxpayers: Projects on property subject to CFIUS review will face added delays while agencies wait for CFIUS outcomes, slowing construction and potentially increasing project costs passed to ratepayers and taxpayers.
Foreign investors, some property owners, homeowners and small businesses: New review, notice, and blocking authority adds regulatory burdens, transaction delays, higher legal/transaction costs, and could reduce foreign capital flows—potentially lowering property values in designated zones.
Local governments and planners, utilities: Requiring DoD to find an "unacceptable risk" when CFIUS refers a transaction to the President can foreclose DOT approvals even where risks are speculative, constraining local planning and project approvals.
Based on analysis of 3 sections of legislative text.
Makes certain foreign purchases/leases/concessions of U.S. real property near military areas subject to mandatory CFIUS review and pauses DoD/DOT approvals for energy projects on such property until reviews conclude.
Official title: Require the Committee on Foreign Investment in the United States to review any purchase or lease of real estate near a military installation or military airspace in the United States by a foreign person connected to or subsidized by the Russian Federation, the People's Republic of China, the Islamic Republic of Iran, or the Democratic People's Republic of Korea, and for other purposes.
Introduced January 22, 2025 by Rafael Edward Cruz · Last progress January 22, 2025
Expands CFIUS authority to treat certain foreign purchases, leases, or concessions of U.S. real property near or affecting military installations and training areas as covered transactions, requires CFIUS to initiate reviews of those transactions, and mandates extra congressional notifications. It also bars the Department of Defense and Department of Transportation from issuing approvals for certain energy projects located on real property while CFIUS is reviewing the underlying foreign real-estate transaction and creates coordinated timing and notification rules among CFIUS, DoD, and DOT. The bill makes CFIUS reviews mandatory for specified foreign real-estate deals that could affect military operations, adds direct notification to Members of Congress representing affected districts and states, and pauses or conditions DoD and DOT authorizations of energy structures on such property until CFIUS and the Defense Department complete or resolve their national-security reviews.