S. 2116: To require the Committee on Foreign Investment in the United States to annually review, update, and report on the facilities and property of the United States Government determined to be national security sensitive for purposes of review of real estate transactions under section 721 of the Defense Production Act of 1950.

This bill requires the Committee on Foreign Investment in the United States (CFIUS) to carry out annual reviews and updates on specific government facilities and properties deemed sensitive for national security reasons. These reviews will focus on real estate transactions involving these sensitive sites as part of the regulations under the Defense Production Act of 1950.

Key Provisions

• Annual Review Requirement: Each year, by January 31, members of CFIUS will need to review the facilities and properties their respective agencies manage that are identified as sensitive for national security reasons.
• List of Sensitive Properties: The bill allows CFIUS to establish a list of government facilities and properties that require scrutiny, which may include locations related to the intelligence community and National Laboratories.
• Reporting on Findings: After each review, members must submit a report to the chairperson of CFIUS, including any recommended updates or changes to the list of sensitive sites. This report must be approved by an Assistant Secretary or an equivalent official from the member's agency.
• Transparency for Congress: Upon request from any Member of Congress, the chairperson of CFIUS is required to provide a classified briefing regarding the identified sensitive sites, ensuring transparency while maintaining security protocols.

Impact on Real Estate Transactions

The annual reviews and updates mandated by this bill aim to enhance the oversight of foreign investments and transactions involving U.S. government properties that are sensitive for national security purposes. The results from these findings could lead to changes in how such transactions are approached and evaluated by CFIUS, potentially impacting investment approvals and regulatory processes.

Objective of the Bill

The objective is to ensure that national security considerations are consistently addressed and incorporated into the decision-making processes related to real estate transactions and foreign investments within critical government sectors. By conducting thorough yearly assessments, the bill seeks to adapt to evolving security needs and challenges.

Relevant Companies