The U.S. Treasury Department proposed new rules expanding the government's oversight of foreign investment in certain key sectors and real estate transactions, in a bid to better address national security risks.
If approved, the rules would grant the Committee on Foreign Investment in the United States, or CFIUS, wider authority over foreign investment in businesses involved in critical technology, critical infrastructure and sensitive personal data, as well as on real estate deals involving non-U.S. citizens.
The proposal to widen the CFIUS' review of real estate transactions is generally structured around specific sites, such as airports, maritime ports and military installations, the Treasury said.
The new rules are slated to take effect Feb. 13, 2020. The department will accept public comments on the proposals until Oct. 17, 2019.
