Sec. 4. Expanding the jurisdiction of the Committee on Foreign Investment in the United States over real estate transactions
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Section 721(a)(4) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(a)(4) ) is amended— in subparagraph (A)(ii), by striking clauses
(ii)through
(v)and inserting clauses
(ii)through
(vi); in subparagraph (B)— by redesignating clauses
(ii)through
(v)as clauses
(iii)through (vi), respectively; by inserting after clause
(i)the following: Subject to subparagraphs
(C)and (E), the purchase or lease by, or a concession to, a person who is a foreign adversary person of private or public real estate located in the United States. ; in clause (iii), as so redesignated— by striking foreign person of private or public real estate and inserting foreign person who is not a foreign adversary person of private or public real estate ; and in subclause (II)— in item (aa), by inserting that is a sensitive site before the semicolon; and in item (bb)— in subitem (AA), by striking a United States military installation or another facility or property of the United States Government that is sensitive for reasons relating to national security and inserting a sensitive site ; in subitem (BB), by striking such an installation, facility, or property and inserting a sensitive site ; and in subitem (CC), by striking such an installation, facility, or property and inserting a sensitive site ; and in clause (v), as so redesignated, in subclause (II), by striking clause
(iii)and inserting clause
(iv); in subparagraph (C)— in clause (i), by striking subparagraph (B)(ii) and inserting clause
(ii)or
(iii)of subparagraph
(B); in clause (ii)— by striking subparagraph (B)(ii)(II)(bb)(AA) and inserting subparagraph (B)(iii)(II)(bb)(AA) ; and by striking a United States military installation or another facility or property of the United States Government described in that subparagraph and inserting a sensitive site ; and in clause (iii)— in subclause (I), by striking subparagraph (B)(ii)(II)(bb) and inserting subparagraph (B)(iii)(II)(bb) ; and in subclause (II)(bb)(BB), by striking subparagraph (B)(ii)(II)(bb) and inserting subparagraph (B)(iii)(II)(bb) ; in subparagraph (D)— in clause (i), by striking subparagraph (B)(iii) and inserting subparagraph (B)(iv) ; in clause (iii)— in subclause (I), by striking subparagraph (B)(iii) and inserting subparagraph (B)(iv) ; and in subclause (II), by striking subparagraph (B)(iii)(I) and inserting subparagraph (B)(iv)(I) ; in clause (iv), by striking subparagraph (B)(iii) each place such term appears and inserting subparagraph (B)(iv) ; and in clause (v), by striking subparagraph (B)(iii) and inserting subparagraph (B)(iv) ; and in subparagraph (E), by striking clauses
(ii)and
(iii)of subparagraph
(B)and inserting clauses
(iii)and
(iv)of subparagraph
(B). Section 721(b)(1)(C)(v)(IV) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(b)(1)(C)(v)(IV) ) is amended by adding at the end the following: Notwithstanding item (dd), the parties to an elevated risk real estate transaction shall submit a declaration described in subclause
(I)with respect to the transaction. .
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Sec. 4
Expanding the jurisdiction of the Committee on Foreign Investment in the United States over real estate transactions
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