PROTECT Act of 2025
Sponsored By: Senator Moreno, Bernie [R-OH]
Introduced
Summary
Expand CFIUS review to certain greenfield and brownfield investments by foreign governments of concern. This bill would add investments tied to U.S. real estate and the creation of factories or facilities to the Defense Production Act’s definition of covered transactions and would require parties to file declarations for those deals.
Show full summary
- U.S. property owners and businesses: Purchases of private or public U.S. real estate that include establishing a business to operate a factory or other facility would become subject to CFIUS review. These transactions would need a declaration when they could lead to foreign government control.
- Foreign investors and foreign governments of concern: The bill would treat ownership or control by a foreign government of concern as covered when that government directly or indirectly holds at least a 5 percent interest, can appoint or approve board members or officers, or acts through arrangements to act in concert.
- Oversight and national security review: CFIUS would get mandatory filing and review authority for these investments. The rule covers interests held in the preceding three years and lists specific examples of control to guide scrutiny.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New CFIUS rules for foreign land deals
This bill would let CFIUS review some greenfield and brownfield real-estate investments. It would apply when a foreign person buys, leases, or gets a concession of U.S. land and sets up a U.S. business to run a factory or facility there. Control for review could be found if a foreign government of concern or related entities hold 5% or more, or have appointment or other control rights. If enacted, parties to those deals would have to submit the existing CFIUS declaration form. The rule would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Moreno, Bernie [R-OH]
OH • R
Cosponsors
Elissa Slotkin
MI • D
Sponsored 4/9/2025
Sen. Sheehy, Tim [R-MT]
MT • R
Sponsored 4/9/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov