National Security Moratorium on Foreign Purchases of U.S. Land

National Security Moratorium on Foreign Purchases of U.S. Land

This bill requires the President to take actions necessary to bar foreign persons (individuals or entities) from purchasing public or private real estate in the United States for the five-year period beginning from this bill's enactment.

The Government Accountability Office must report to Congress (1) certain information on the purchase and ownership of U.S. real estate by foreign persons; and (2) recommendations to make it easier for U.S. citizens and harder for foreign persons to purchase U.S. real estate, including farmland.

Bill 117 HR 6383, also known as the National Security Moratorium on Foreign Purchases of U.S. Land, aims to temporarily halt foreign entities from purchasing land in the United States for national security reasons. The bill was introduced in response to concerns about foreign ownership of American land and the potential risks it poses to national security.

The bill proposes a moratorium on foreign purchases of U.S. land for a period of two years, during which time a comprehensive review of the potential national security implications of such transactions will be conducted. The review will assess the impact of foreign ownership of American land on critical infrastructure, natural resources, and sensitive military installations.

If the review determines that foreign ownership of U.S. land poses a threat to national security, the bill authorizes the President to impose restrictions or prohibitions on such transactions. The goal of the bill is to protect American interests and ensure that the country's land remains under domestic control. Supporters of the bill argue that it is necessary to safeguard national security and prevent foreign entities from gaining undue influence over American land. Critics, however, raise concerns about the potential impact on foreign investment and the economy. Overall, Bill 117 HR 6383 seeks to strike a balance between protecting national security and promoting economic growth, and its fate will depend on the outcome of the review and the ongoing debate in Congress.