Protecting Our Farms and Homes from China Act
Sponsored By: Senator Sen. Hawley, Josh [R-MO]
Introduced
Summary
Blocks purchases of U.S. agricultural land by foreign entities tied to the Government of the People's Republic of China or the Chinese Communist Party. It also temporarily bans those covered entities from buying many types of residential real estate and sets rules to force divestment, fines, and enforcement.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Ban on foreign ownership of farms
This bill would make it unlawful for covered foreign entities to buy or lease U.S. agricultural land. Covered foreign entities that already hold such land would have to file a letter of intent to divest within 180 days and complete divestment within 1 year. The Agriculture Secretary would issue rules and create an office to enforce the ban within 180 days. The bill would let the Secretary fine $100 per acre per day for violations. Violations could also bring criminal penalties, forfeiture of the land, and required public sale at auction.
Temporary ban on foreign home purchases
This bill would bar covered foreign entities from buying U.S. residential units during a covered period. The covered period would start at enactment and end 2 years later unless the President extends it by 2 years. If enacted, covered foreign entities that already own units would have to divest within 1 year. The Commerce Secretary would set up rules and an office to enforce the ban. The bill would let the government fine $1,000 per unit per day and allow the Attorney General to seize assets and seek injunctions. The Commerce Secretary would have to report to Congress within 540 days on housing market effects.
Void noncompete agreements at farms
This bill would void any noncompete between an employee and a covered foreign entity that owns or leases U.S. agricultural land. If enacted, those noncompetes would have no legal force starting upon enactment.
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Sponsors & CoSponsors
Sponsor
Sen. Hawley, Josh [R-MO]
MO • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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