This bill makes it much harder for companies and individuals from six countries considered U.S. adversaries—China, Cuba, Iran, North Korea, Russia, and Venezuela—to buy land or property in the United States. Right now, the government reviews foreign investments in sensitive areas like military bases, but this bill expands that review to cover almost any real estate purchase by these adversary nations, with special focus on farmland and property near airports, ports, military installations, and critical infrastructure like power plants and data centers.

The bill creates a new category called "elevated risk real estate transactions" that automatically triggers a national security review. Instead of the government having to prove a deal is dangerous, the bill flips the burden around—deals involving adversary nations are now presumed to be a national security threat unless the Committee on Foreign Investment in the United States can prove otherwise with "clear and convincing evidence." This is a significant change that makes it much easier to block these purchases. The bill also requires the Secretary of Agriculture to participate in all reviews involving agricultural land and farming-related technology, recognizing that food security is a national security issue. States can also pass their own laws restricting these purchases as long as they apply broadly and aren't targeting specific deals or parties.