Protecting Against Foreign Adversary Investments Act of 2024

The Protecting Against Foreign Adversary Investments Act of 2024 expands the Committee on Foreign Investment in the United States' authority to review real estate transactions by foreign entities of concern. It requires these entities to declare purchases or leases exceeding $1 million in value or 100 acres, or combined transactions over a 3-year period exceeding those thresholds. The legislation mandates annual reports analyzing national security risks related to foreign entities of concern owning U.S. real estate, including potential threats to critical infrastructure and intellectual property. It also requires federal agencies to develop best practices for state and local officials to assess risks in transactions with foreign entities of concern.