Prohibits Chinese entities from acquiring or leasing U.S. agricultural land and residential real estate.
The Protecting Our Farms and Homes from China Act prohibits certain Chinese entities from acquiring, leasing, or owning U.S. agricultural land and residential real estate. These entities include corporations from China, individuals affiliated with the Chinese Communist Party, and those performing activities on behalf of these entities. The Act mandates divestment of existing interests within a year and imposes fines for non-compliance. It also nullifies noncompete agreements with employees of these entities.
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