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119-s-2573119th Congress

Foreign Property Ownership Transparency Act

Sponsored By: Senator Blackburn, Marsha [R-TN]

Introduced

Summary

This bill would push for greater transparency on foreign ownership of U.S. residential real estate and study how those purchases affect housing affordability and national security. It directs a federal study of purchases since January 1, 2015, and a HUD review that would lead to recommendations for improving transparency and protecting U.S. residents' access to housing.

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  • Residents and families: The Comptroller General would analyze the volume and geographic concentration of foreign home purchases since 2015 and evaluate implications for housing affordability and availability for U.S. residents.
  • Policymakers and local housing authorities: The Secretary of Housing and Urban Development would review the study, consult state and local housing officials, and deliver recommendations to Congress within 180 days on transparency measures and actions to protect U.S. buyers.
  • Federal oversight and security officials: The study would examine ownership structures such as shell companies and trusts and assess proximity of foreign-owned properties to sensitive sites to flag national security concerns.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Blackburn, Marsha [R-TN]

TN • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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