A bill has been proposed in the State of Texas that would create a Texas Committee on Foreign Investment, which would be responsible for reviewing certain foreign transactions. Experts say this is one of the first “local CFIUS” committees proposed, but it probably won’t be the last.
As we covered back in 2022, the state of Florida has been analyzing the portfolios of the Florida Retirement System to determine how many investments the state has in Chinese companies. Now the state has taken action to divest from any Chinese-owned companies. Details, context inside.
The Sunflower State (yes, that’s Kansas) is the latest to wade into the national security debate, following the lead of Florida, Missouri and others that have regulated foreign ownership of property. The Kansas move would prohibit certain purchases within 150 miles of any military installation. Details inside.
As we covered back in June, Florida had enacted a law banning foreign nationals from China and other “countries of concern” from purchasing certain real estate holdings. An appeals court has now prohibited enforcement of that ban. Details, the case, a DoJ statement of interest, the impact, and more inside.
A U.S. Senator has introduced a bill that would force CFIUS to respond to inquiries from governors about transactions within state borders. The proposal runs counter to FIRRMA and current practice, and raises questions about the states’ role in national security, just as the states ramp up activity. Details inside.
As we’ve been covering extensively, numerous U.S. states (and even cities) have taken action to regulate foreign investment within their borders. Add Missouri to the list. Last week, Governor Mike Parson restricted the purchase of agricultural land near the state’s military facilities. Details inside.
This may be a first. Switzerland-based agriculture company Syngenta, which is a subsidiary of the Chinese state-owned China National Chemical Corporation, is being forced to give up its land holdings in Arkansas. Details and context on state-wide foreign investment regulations are inside.
As we’ve covered extensively, several U.S. states have taken action to regulate foreign investment within their borders. Now cities are getting into the action. Last week, Beavercreek, Ohio, passed a law that empowers city planners to review real estate transactions for national security. Details inside.
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.
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.