The Treasury Department has finalized a rule some say will help crack down on foreign ag land purchases.
It will allow the Committee On Foreign Investments to expand its reviews of land purchases near military sites. It has been a hot topic for some time now and was the subject of a House Ag Committee hearing earlier this year.
Treasury Secretary Janet Yellen says, “This final rule will significantly increase the ability of CFIUS to thoroughly review real estate transactions near bases and will allow us to deter and stop foreign adversaries from threatening our armed forces, including through intelligence gathering.”
