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Expands federal foreign-investment review to cover purchases, leases, or concessions of U.S. real estate located near military installations, training routes, special use airspace, and controlled firing/operations areas when acquired by certain foreign persons. It requires the Committee on Foreign Investment in the United States (CFIUS) to initiate reviews of those transactions, notifies members of Congress for affected installations, and creates rules that pause or block related federal authorizations for energy projects on property under CFIUS review until the review and any presidential referral are resolved.
The bill increases national‑security protection of military sites and critical energy infrastructure by expanding CFIUS review and clarifying interagency coordination, at the cost of greater regulatory delay, legal uncertainty for property owners and developers, and some risk of exposing sensitive information or narrowing agency discretion.
Military personnel, taxpayers, and owners/operators of critical infrastructure will face stronger protections because CFIUS reviews and can block foreign purchases of nearby real estate or foreign‑subsidized acquisitions that could threaten military sites or energy infrastructure.
Federal reviewers (DoD and DOT) gain clearer coordination rules, reducing conflicting federal approvals when transactions trigger CFIUS review.
Project applicants (especially energy and transportation projects) receive a single, consistent timeline tied to CFIUS review, which can reduce regulatory uncertainty about simultaneous federal approvals.
Foreign buyers, developers, and project sponsors face increased regulatory scrutiny and review that can delay or block real estate and energy transactions, raising costs and creating uncertainty for projects and investors.
Homeowners and small-business sellers with transactions dated on or after enactment could face retroactive review, creating legal uncertainty and potential financial loss for property owners.
Providing notice to local Members of Congress risks exposing sensitive details about defense posture or locations if not carefully handled, which could harm operational security for military personnel and installations.
Introduced January 22, 2025 by Rafael Edward Cruz · Last progress January 22, 2025