The U.S. Treasury Department issued a final rule that significantly expands its ability to review real estate transactions by foreign persons near more than 60 military bases across 30 states. The Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), says the committee has the authority to review certain real estate transactions near specified military installations and to take the appropriate actions it deems necessary. Nearly 60 military installations will now be added to an existing list of military installations around which CFIUS has jurisdiction over real estate transactions and its jurisdiction will be extended around 10 existing installations. “We continue to use strong screening tools to advance America’s national security and protect our military installations from external threats,” says Janet Yellin, Secretary of the Treasury. She also says this final rule is a significant milestone in safeguarding critical U.S. military and defense installations.
Treasury expands foreign land purchase oversight
