Study on foreign residential real estate purchases

(a) In general The Comptroller General of the United States shall conduct a study on the purchase of residential real estate in the United States by foreign individuals, entities, and governments. (b) Scope The study conducted under subsection (a) shall include— (1) an analysis of the volume and geographic concentration of foreign residential real estate purchases in the United States since January 1, 2015; (2) an assessment of the ownership structures used in the purchases described in paragraph (1), including shell companies and trusts; (3) an evaluation of the implications of the purchases described in paragraph (1) on housing affordability and availability for residents of the United States; (4) a review of Federal, State, and local data collection efforts on foreign property ownership and any gaps in that data; and (5) a review of relevant national security concerns relating to the purchases described in paragraph (1), including proximity of properties to sensitive sites. (c) Report Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Committee on Finance of the Senate a report of the study conducted under subsection (a).