The United States Treasury Department is enacting a new federal rule that aims to combat the rise in foreign entities strategically purchasing American land in close proximity to military bases.
According to Fox News, the new regulation will utilize a law passed in 2018 to expand the ability of the Treasury’s Committee on Foreign Investment in the United States (CFIUS) to analyze the consequences of foreign purchases of real estate, in order to possibly exert control over such transactions or asset transfers.
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