Bill > S176

This bill aims to prohibit citizens and entities of the People's Republic of China from purchasing public or private real estate in the United States, with some exceptions. The legislation requires the President to take actions preventing Chinese citizens, Chinese government-affiliated entities, or individuals acting on behalf of the Chinese Communist Party from buying U.S. real estate after the bill's enactment. If the President determines that existing Chinese-owned real estate poses a national security risk, those properties must be sold within one year. The bill includes important exceptions for Chinese refugees, those granted asylum, and properties owned by U.S. citizens or permanent residents. The legislation defines key terms like "covered foreign entity" (organizations with significant ties to the Chinese government) and "United States person" to clarify its scope. Additionally, the bill modifies the Agricultural Foreign Investment Disclosure Act to adjust penalty amounts for non-compliance, specifically changing the penalty range to be at least 10 percent and no more than 25 percent of a specified amount. The overall intent appears to be restricting Chinese land ownership in the United States out of national security concerns.

Government Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/176/all-info