[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6383 Introduced in House (IH)]
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117th CONGRESS
2d Session
H. R. 6383
To prohibit the purchase of public or private real estate located in
the United States by foreign persons, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 12, 2022
Mr. Gohmert (for himself, Mrs. Miller of Illinois, Mr. Mooney, Mr.
Tiffany, Mr. Clyde, Mr. Norman, Mr. Good of Virginia, Mr. Wittman, Mr.
Roy, and Mr. Gaetz) introduced the following bill; which was referred
to the Committee on Foreign Affairs
_______________________________________________________________________
A BILL
To prohibit the purchase of public or private real estate located in
the United States by foreign persons, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``National Security Moratorium on
Foreign Purchases of U.S. Land''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) Foreign investors now account for almost one-third of
institutional investment in single-family rental homes in the
United States. This increases the price and makes it more
difficult for Americans to purchase a home.
(2) Increased foreign investment in Washington, DC, and
other urban areas has led to a rise in gentrification, pushing
many long-time residents out of their homes, including some of
our most vulnerable and poor communities.
(3) Roughly 47 percent of rural renters pay a third or more
of their income in rent each month. The Federal Government has
done nothing to help rural Americans deal with the rising costs
in housing.
(4) Chinese nationals have led foreign investments in homes
in the United States for the past seven years. The Chinese
Communist Party is attempting to buy land in the United States,
with an emphasis on farmland to gain strategic leverage over
the United States.
(5) Foreign companies and individuals have purchased 1.7
million acres of agricultural land in Texas over the past
decade, which is more than in any other State. The purchases
are worth approximately $3.3 billion.
(6) Foreigners have been abusing the EB-5 visa system,
which allows foreign nationals to obtain green cards if they
invest in specific business ventures. The rules to acquire an
EB-5 visa should be made more stringent.
(7) Current United States laws are designed in a way that
makes it more profitable for foreign investors to invest in
property in the United States than their country of origin.
(8) The Foreign Investment Risk Act of 2018 strengthened
the Committee on Foreign Investment in the United States
(CFIUS) by among other measures giving it more jurisdiction
over real estate transactions. Specifically, CFIUS now has
jurisdiction to review purchases and leases of real estate by
foreign nationals regardless of whether the transactions
involve United States businesses. More action is still needed
to make the rules of CFIUS more strict.
(9) With each additional land purchase made by a foreign
national or foreign entity, American sovereignty is further
eroded.
SEC. 3. PROHIBITION ON PURCHASE OF PUBLIC OR PRIVATE REAL ESTATE
LOCATED IN THE UNITED STATES BY FOREIGN PERSONS.
(a) In General.--Notwithstanding any other provision of law, for
the 5-year period beginning on the date of the enactment of this Act,
the President shall take such actions as may be necessary to prohibit
the purchase of public or private real estate located in the United
States by any foreign person.
(b) GAO Report.--
(1) In general.--Not later than 6 months after the date of
the enactment of this Act, the Comptroller General of the
United States shall submit to Congress a report that--
(A) details the history of purchases of public and
private real estate located in the United States by
foreign persons;
(B) provides more information on the percentage of
real estate located in the United States that is owned
by foreign persons; and
(C) offers recommendations to make it easier for
United States citizens and harder for foreign persons
to purchase real estate located in the United States,
including farmland.
(2) Form.--The report required by paragraph (1) shall be
submitted in unclassified form, but may contain a classified
annex if necessary.
SEC. 4. DEFINITIONS.
In this Act:
(1) Foreign person.--The term ``foreign person''--
(A) means--
(i) any foreign national, foreign
government, or foreign entity; or
(ii) any entity over which control is
exercised or exercisable by a foreign national,
foreign government, or foreign entity; and
(B) includes a corporation, partnership, or other
association--
(i) created under the laws of a foreign
country; and
(ii) substantially beneficially owned by
nationals of that foreign country or any other
foreign country.
(2) United states.--The term ``United States'' means the
several States, the District of Columbia, the Commonwealth of
Puerto Rico, the Commonwealth of the Northern Mariana Islands,
American Samoa, Guam, the United States Virgin Islands, and any
other territory or possession of the United States.
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