Bill > S1388

This bill expands the oversight of foreign investments in the United States by amending the Defense Production Act to require the Committee on Foreign Investment in the United States (CFIUS) to review certain "greenfield" and "brownfield" investments by foreign countries of concern. Specifically, the bill defines a new type of "covered transaction" that includes investments where a foreign entity purchases or leases real estate in the United States and establishes a business facility on that property, and where there is potential control by a foreign government of concern or entities closely associated with such a government. The bill mandates that parties involved in these types of investments must submit a declaration to CFIUS for review, with particular scrutiny aimed at investments from countries deemed to be of strategic concern. The expanded definition includes investments where a foreign government or its affiliates have at least a 5% interest, the ability to appoint board members or officers, or other significant indirect influence over the investment. By broadening the scope of reviewed transactions, the bill aims to enhance national security screening of foreign investments in U.S. real estate and business operations.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1388/all-info