Sec. 5. Presumption of unresolvability of elevated risk real estate transactions
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/bill/119/hr/8700/ih/section-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 Permanent Select Committee on Intelligence of the House of Representatives, the Committees on Agriculture and Banking, Housing, and Urban Affairs of the Senate, and the Select Committee on Intelligence of the Senate containing such determination and the reasons therefore. .
Section 721(b) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(b) ) is amended by adding at the end the following: For purposes of a review or investigation of an elevated risk real estate transaction under this subsection, the transaction is presumed to present an unresolvable risk to national security, 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 Permanent Select Committee on Intelligence of the House of Representatives, the Committees on Agriculture and Banking, Housing, and Urban Affairs of the Senate, and the Select Committee on Intelligence 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 so resolved through such an agreement or condition; and submits a notification to the Committees on Agriculture and Financial Services of the House of Representatives, the Permanent Select Committee on Intelligence of the House of Representatives, the Committees on Agriculture and Banking, Housing, and Urban Affairs of the Senate, and the Select Committee on Intelligence of the Senate containing such determination and the reasons therefore. .
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Sec. 5
Presumption of unresolvability of elevated risk real estate transactions
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