Bill > HR7074

This bill, titled the "Keeping Public Lands Out of Adversarial Hands Act," proposes to amend the Defense Production Act of 1950 by officially adding the Secretary of the Interior to the Committee on Foreign Investment in the United States (CFIUS). CFIUS is a government committee that reviews certain transactions involving foreign investment in U.S. businesses for national security risks. Specifically, the Secretary of the Interior would become a member of CFIUS when a transaction involves land or resources adjacent to land managed by federal agencies such as the Bureau of Land Management, Bureau of Reclamation, Bureau of Indian Affairs, Bureau of Ocean Energy Management, National Park Service, and the U.S. Fish and Wildlife Service. Furthermore, the bill mandates that if the Secretary of the Interior reports a land or resource transaction to CFIUS, and that transaction involves a foreign person from China, North Korea, Russia, or Iran acquiring an interest in land or resources, CFIUS must determine if it's a "covered transaction" (meaning it could pose a national security risk) and decide whether to review it or take other authorized actions. These specific requirements related to transactions with these four countries would end once they are removed from a list of foreign adversaries in federal regulations.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/7074/all-info