The Texas State Senate wants to create a process through which locals could report non-notified transactions to CFIUS. The proposed rule would ostensibly insert the Texas attorney general into the process, as the AG would “retain a copy of any documents submitted” to CFIUS. Details inside.
North Dakota is the latest state to propose a bill that would limit foreign investment in the state. The move comes as Wyoming and other states have seen similar legislation. Critics say a patchwork of state laws will ultimately undermine CFIUS. Details and a list of state-by-state initiatives are inside.
A member of the Wyoming state legislature has proposed a bill that would ban foreign citizens and companies from owning agricultural land in the state. The move is the latest in a series of state actions that may run counter to the judgment of Congress. Details, and why it matters, are 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.
South Dakota’s Kristi Noem is the latest governor to call for a review of the state’s investments to determine whether it has any stakes in Chinese companies. She’s not the first governor to conduct a “national security audit,” which we predicted would become more common. Details inside.
A well-respected law school professor has published an essay that explores the overlap of state laws and CFIUS. The essay explores whether state and local officials should have a mechanism for channeling concerns and local knowledge into the CFIUS process. Details inside.