S. 1388 · Where this bill is now
In committee
Introduced in the Senate, Apr 9, 2025
What this bill does
In plain words · AI-written from the official summaryReviews foreign land purchases from concerning nations
The bill requires a committee called CFIUS (which reviews foreign investments in the U.S.) to examine real estate purchases made by people from countries considered national security concerns. Right now, these countries include China, North Korea, Russia, and Iran. The bill says anyone who wants to buy U.S. land and start a business there under control of one of these countries has to file paperwork with CFIUS first.
How it affects you
If you're a foreign investor from one of these countries looking to buy property and establish a business in the U.S., you would now need to go through this review process. Most Americans buying property domestically wouldn't be affected by this bill, since it targets foreign investors from specific countries of concern.
Read the official summary (Introduced in Senate, Apr 9, 2025)
Providing Rigorous Oversight Through Evaluation of Concerning Transactions Act of 2025 or the PROTECT Act of 2025
This bill requires the Committee on Foreign Investment in the United States (CFIUS) to review certain real estate investments made by a foreign country of concern in the United States. The bill defines foreign country of concern as China, North Korea, Russia, Iran, or any other country determined to be a country of concern by the Department of State.
Specifically, CFIUS must review any investment by a foreign person that (1) involves the acquisition of real estate in the United States and the establishment of a U.S. business on such real estate, and (2) could result in direct or indirect control of that U.S. business by a foreign country of concern. A party to any such investment must submit to CFIUS a declaration containing basic information regarding the transaction.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 1388
A BILL
PROTECT Act of 2025
Sponsor: Sen. Bernie Moreno (R-OH) · Introduced Apr 9, 2025 · Foreign Trade and International Finance · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Apr 9, 2025: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”