Sec. 4. Presumption of unresolvability of elevated risk real estate transactions
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Section 721(b)(2)(B) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(b)(2)(B) ) is amended— in clause (i), by striking or at the end; in clause (ii), by striking the period at the end and inserting ; or ; and by adding at the end the following: a covered transaction is an elevated risk real estate transaction, unless the Committee— determines, by clear and convincing evidence, that the covered transaction is not a risk to national security; and submits a notification to the Committees on Agriculture and Financial Services of the House of Representatives, the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party of the House of Representatives, and the Committees on Agriculture and Banking, Housing, and Urban Affairs of the Senate containing such determination and the reasons therefore. .
Section 721(l)(3) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(l)(3) ) is amended by adding at the end the following: Notwithstanding subparagraph (A), an elevated risk real estate transaction shall be presumed to present a risk to national security that cannot be resolved through any agreement or condition, unless the Committee— determines, by clear and convincing evidence, that the risk to national security of the transaction can be resolved in a manner other than by suspending or prohibiting the transaction; and submits a notification to the Committees on Agriculture and Financial Services of the House of Representatives, the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party of the House of Representatives, and the Committees on Agriculture and Banking, Housing, and Urban Affairs of the Senate containing such determination and the reasons therefore. .
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Sec. 4
Presumption of unresolvability of elevated risk real estate transactions
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