As expected, Texas Governor Greg Abbott signed a law that prohibits individuals and entities from China and other designated countries from owning real property in the state. A similar law in Florida is being challenged as unconstitutional. Details, plus an update on the “Texas CFIUS,” are inside.
A group of U.S. Senators have floated a bill that would expand CFIUS’s jurisdiction around military installations. Among other things, the bill would include real estate investments by foreign adversaries that are within 50 miles of certain military locations, like training routes. Details inside.
Three U.S. Senators have reintroduced legislation would prevent any Chinese individual or business with ties to the Chinese Communist Party from owning American land. The proposal echoes recent law in Florida, the enforcement of which was later prohibited by a U.S. Court of Appeals. Details inside.
As expected, Treasury has issued a final rule that expands CFIUS’s ability to review real estate transactions near more than 60 military sites. We covered the original proposal back in July; Treasury Secretary Yellen says the move will “significantly expand” CFIUS’s real estate capabilities.
As we’ve covered extensively, several U.S. states have taken action to regulate foreign investment within their borders. Florida is the latest to place restrictions on entities or individuals from certain “countries of concern,” including China, Russia, Iran and others. Details and other state actions inside.
According to media reports, China-based battery firm Gotion has been given the go-ahead by CFIUS to build a battery factory in the southern U.S. But don’t assume that CFIUS reviewed the deal and found no national security concerns: It may have been a “greenfield” deal. Details, insights inside.
Okay, it’s official. Despite the urging — and now criticism — of Congressional leaders, CFIUS has decided that Fufeng USA’s purchase of more than 300 acres of land in Grand Forks, North Dakota, is not a covered transaction. Details, reactions, and a (rare) copy of the CFIUS correspondence is inside.
Every once in a while, our editors stumble across an interesting CFIUS-related disclosure buried in an SEC filing. We like to highlight and reprint those terms so companies and advisors can compare their own approach. Inside, we provide CFIUS terms buried in a lease.
CFIUS recently cleared a greenfield wind farm in Texas, which is to be built by a subsidiary of a Shanghai-listed energy company. The deal would have been subject to the real estate provisions of FIRRMA, as it’s located near Laughlin Air Force Base. Details, insights, source materials, and contact information is inside.
This week, CFIUS unveiled a geographic reference tool to help determine a property’s proximity to military installations. Details, the tool, relevant contacts and more are inside.
According to a Bloomberg report, Japanese investment firm and conglomerate SoftBank will look to get CFIUS approval for its buyout of real estate company WeWork.
The U.S. Treasury Department may authorize CFIUS to review real estate transactions by foreign persons when properties are in close proximity to military installations or “sensitive” U.S. government property. Details inside.