Not One More Inch or Acre Act

Bill: 118-s-1136
Sponsor: full_name: Sen. Cotton, Tom [R-AR]
Introduced: 2023-03-30
Policy area: International Affairs
Subjects: Asia

China

Civil actions and liability

Farmland

Government information and archives

Presidents and presidential powers, Vice Presidents

U.S. and foreign investments
Latest action: action_date: 2024-01-18
text: Committee on Banking, Housing, and Urban Affairs. Hearings held.

Summaries:
action_date: 2023-03-30
action_desc: Introduced in Senate
text: <p><strong></strong><b>Not One More Inch or Acre Act</b></p> <p>This bill requires the President to take actions as necessary to prohibit certain individuals and entities associated with China from purchasing real estate located in the United States and to mandate the sale of such property in certain circumstances.</p> <p>The individuals and entities prohibited from purchasing U.S. real estate include (1) Chinese citizens, (2) entities acting on behalf of the Chinese government or the Chinese Communist Party, and (3) foreign individuals or entities acting on behalf of a Chinese citizen. Entities subject to this prohibition are generally those </p> <p>Additionally, if the President determines that the ownership of U.S. real estate by these individuals and entities poses a national security risk, the President must take actions as necessary to require the sale of the property.</p> <p>The bill also modifies an existing civil penalty for failing to satisfy a reporting requirement relating to a foreign individual or entity that acquires or transfers an interest in U.S. agricultural land. Under this bill, the civil penalty for failing to report the required information to the Department of Agriculture must be at least 10% of the fair market value of the relevant interest in agricultural land.</p>

tv_txt: II 118th CONGRESS 1st Session S. 1136 IN THE SENATE OF THE UNITED STATES March 30, 2023 Mr. Cotton (for himself and Mrs. Britt ) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations A BILL To direct the President to take such actions as may be necessary to prohibit the purchase of public or private real estate located in the United States by citizens and entities of the People's Republic of China, and for other purposes.

1. Short title This Act may be cited as the Not One More Inch or Acre Act . 2. Prohibition on purchase of public or private real estate located in the United States by citizens and entities of the People's Republic of China (a) In general Notwithstanding any other provision of law, the President shall take such actions as may be necessary— (1) to prohibit the purchase, on or after the date of the enactment of this Act, of public or private real estate located in the United States by— (A) any citizen of the People's Republic of China; (B) any covered foreign entity; or (C) any foreign person acting for or on behalf of the Chinese Communist Party, a covered foreign entity, or a citizen of the People's Republic of China; and (2) if the President determines that the ownership, as of such date of enactment, by a person described in subparagraph (A), (B), or (C) of paragraph (1) of real estate located in the United States poses a national security risk to the United States, to require the sale of such real estate by not later than the date that is one year after such date of enactment. (b) Exceptions (1) Exception for refugees Subsection (a) does not apply with respect to a citizen of the People's Republic of China who— (A) entered the United States as a refugee (as defined in section 101(a)(42) of the Immigration and Nationality Act ( 8 U.S.C. 1101(a)(42) )); or (B) was granted asylum or withholding of removal under section 208 or 241(b)(3) that Act (8 U.S.C. 1158 and 1231(b)(3)). (2) Exception for property of United States nationals Subsection (a)(2) does not apply with respect to the sale of real estate owned or otherwise held for personal use by a United States citizen or an alien lawfully admitted for permanent residence to the United States. (c) Definitions In this section: (1) Covered foreign entity The term covered foreign entity means an entity— (A) acting on behalf of or otherwise directed by the Government of the People’s Republic of China or the Chinese Communist Party; (B) that— (i) is organized under the laws of the People's Republic of China; (ii) has a principal place of business in the People’s Republic of China; or (iii) is owned or controlled by, or otherwise subject to the jurisdiction of, the Government of the People's Republic of China or the Chinese Communist Party; or (C) that is a subsidiary of an entity described in subparagraph (B). (2) Foreign person The term foreign person means an individual or entity that is not a United States person. (3) United States The term United States means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other territory or possession of the United States. (4) United states person The term United States person means— (A) a United States citizen or an alien lawfully admitted for permanent residence to the United States; or (B) an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity. 3. Penalty amount under Agricultural Foreign Investment Disclosure Act of 1978 Section 3(b) of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3502(b) ) is amended by striking exceed 25 percent of and inserting be less than 10 percent, or exceed 25 percent, of .