The U.S. government is taking steps to enhance the oversight of land sales near military sites involving foreign buyers. A new Treasury rule is set to broaden the jurisdiction of the U.S. Committee on Foreign Investment in the United States (CFIUS) to include the review of real estate transactions near an additional 56 military sites, bringing the total number of sites under scrutiny to 227.
Established by a 2018 law, CFIUS is a powerful but relatively obscure government committee responsible for scrutinizing corporate transactions for potential national security implications. Comprising members from various government departments, including State, Justice, Energy, and Commerce, CFIUS has the authority to compel companies to alter their ownership structures or divest entirely from the U.S.
