S. 3948, also known as the "Protecting Against Foreign Adversary Investments Act of 2024," seeks to update the Defense Production Act of 1950 to improve oversight of real estate transactions involving foreign entities of concern in the United States. The bill requires a review of any real...
Simple Explanation
The bill wants to make sure that when certain businesses from outside the U.S. try to buy big pieces of land or property here, the government takes a closer look to keep everyone safe. If they try to break up their big purchases into smaller pieces to sneak past the rules, this bill aims to stop that.