The Biden administration is proposing tighter controls over foreign land purchases by adding eight additional military installations to the list for national security review.
This addition expands the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS), a federal panel that reviews foreign acquisitions for national security risks. Once finalized, any non-excepted real estate purchases or leases within a 100-mile radius near those additional sites will be considered a CFIUS “covered transaction,” according to a federal register notice that was posted today and scheduled to be published on Friday.
The latest federal proposal comes as American land ownership by foreign adversaries, especially China, has been an increasing concern for state governments and the general public. Republican-led states such as Florida, Texas, Virginia, and South Dakota have undertaken state-level legislative efforts to rein tighter control on foreign land purchases….