Protecting our Land Act This bill requires the President to direct federal agencies to promulgate rules and regulations to prohibit foreign adversaries or state sponsors of terrorism from purchasing real estate located in the United States.
Impact
The introduction of this bill has significant implications for state laws regarding property rights and foreign investment. By placing restrictions on foreign entities, especially those deemed adversarial or involved in terrorism, the bill seeks to create a more secure environment for U.S. citizens. However, this move could lead to complicated legal situations for foreign-owned businesses and could impact international relations, especially with countries that have existing investment interests in the U.S. real estate market.
Summary
House Bill 458, titled the 'Protecting our Land Act,' aims to prohibit the purchase of both public and private real estate in the United States by foreign adversaries and state sponsors of terrorism. The bill mandates that the President direct federal departments and agencies to create rules and regulations that enforce this prohibition. By restricting real estate purchases, the bill seeks to safeguard national security interests and prevent potential threats that could arise from foreign ownership of U.S. land and properties.
Contention
Notable points of contention surrounding HB 458 include concerns from property rights advocates who argue that blanket prohibitions may unfairly impact legitimate foreign investors. Critics fear that this legislation may discourage international investment, leading to a potential economic downturn in areas where real estate sales are significantly influenced by foreign capital. Furthermore, defining what constitutes a 'foreign adversary' and a 'state sponsor of terrorism' could lead to subjective interpretations, raising issues of fairness and transparency.
Protecting our Land Act This bill requires the President to direct federal agencies to promulgate rules and regulations to prohibit foreign adversaries or state sponsors of terrorism from purchasing real estate located in the United States.
Securing America's Land from Foreign Interference Act This bill requires the President to take actions as necessary to prohibit members of the Chinese Communist Party (and entities owned, controlled, or influenced by the party) from purchasing real estate located in the United States.
Protecting Personal Data from Foreign Adversaries Act This bill authorizes sanctions and other prohibitions relating to software that engages in user data theft on behalf of certain foreign countries or entities. The President may regulate or prohibit transactions using software that engages in the theft or unauthorized transmission of user data and provides access to such data to (1) a communist country, (2) the Chinese Communist Party (CCP), (3) a foreign adversary, or (4) a state sponsor of terrorism. The President may also impose visa- and property-blocking sanctions on developers and owners of software that makes unauthorized transmissions of user data to servers located in China that are accessible by China's government or the CCP. The Department of State shall report to Congress a determination regarding whether WeChat or TikTok fall within certain regulations and prohibitions, including those provided under this bill. (WeChat and TikTok are software programs developed by China-based companies.)
A bill to amend the Justice for United States Victims of State Sponsored Terrorism Act to provide rules for payments to Havlish Settling Judgment Creditors.