S.Amdt. 3094

SA 3094, submitted by Mr. Cruz, aims to change the Defense Production Act of 1950 to increase oversight of real estate transactions near military sites.

The amendment adds the following:

• Covered Transactions: It expands the definition of "covered transaction" to include the purchase, lease, or concession of private or public real estate by a foreign person if that person is owned by, controlled by, acting for, or receiving subsidies from the governments of the Russian Federation, the People's Republic of China, the Islamic Republic of Iran, or the Democratic People's Republic of Korea.

• Location Requirements: These transactions are covered if the real estate is located in the United States and within:

  • 100 miles of a military installation.
  • 50 miles of a military training route, Department of Defense managed special use airspace, controlled firing area used by the Department of Defense, or a military operations area.

• Mandatory Reviews: The Committee on Foreign Investment in the United States must initiate a review of these specific real estate transactions.

• Congressional Notification: The amendment requires certifications regarding these transactions to be sent to the Senate and House members representing the state and district where the military site is located.