US to expand security review of land purchases near military installations, Treasury says
Cross-posted from https://sh.itjust.works/post/21971374
The Biden administration on Monday proposed to "vastly expand" security review authority over real estate purchases near U.S. military installations conducted by CFIUS, a powerful committee that screens foreign investments for national security risks.
"This proposed rule would add over 50 military installations, across 30 states, to the existing list of installations around which CFIUS has jurisdiction, including over land purchases," the Treasury Department said in a statement.
https://www.reuters.com/world/us/us-treasury-expand-security-reviews-land-deals-near-military-bases-2024-07-08/Open linkView original on lemmy.ca
7 replies
A national economic risk is allowing corporate ownership of residential property too, and yet here we are.
As well as agricultural property.
Domestic buyers can be just as much of a risk as foreign buyers. We should abolish land ownership for national security reasons.
BLM and the forest service are pretty okay.
I remember reading about one case a while back where a Chinese company bought a solar farm directly overlooking a Navy weapons testing facility; CFIUS forced divestment of that farm.
I think you're referring to a sale that did not go through. I remember reading about that not too long ago. I assume that potential sale in particular is what led to this change.
Edit: I read the article. I was mostly right, except the sale did go through but the land had to be sold again promptly.
I don't think that the one in the article is the one I remember. I'm pretty sure that the one I'm thinking of was a naval weapons testing facility, not an air force base.