,,ii  #aai? ,,congress  #a/ ,session    
,s4 #begc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ca1 #bjbe,mrs4  
,blackburn introduc$ ! foll[+ bill2 :i* 
0 read twice & ref]r$ to ! ,committee on
 ,bank+1 ,h\s+1 & ,urban ,affairs  ,a   
,,bill  ,to require ! ,comptroll] ,g5]al
 ( ! ,unit$ ,/ates to conduct a /udy on 
! pur*ase ( resid5tial real e/ate 9 !   
,unit$ ,/ates by =eign individuals1     
entities1 & gov]nm5ts1 & = o!r purposes4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,=eign ,prop]ty ,own]%ip ,transp>5cy
 ,act4  #b4 ,f9d+s ,congress f9ds !     
foll[+3 7#a7 ,!re has be5 a m>k$        
increase 9 =eign pur*ases ( resid5tial  
real e/ate 9 ! ,unit$ ,/ates 9 rec5t    
ye>s4  7#b7 ,"s =eign pur*ases (        
resid5tial real e/ate are made ?r\gh    
%ell companies or tru/s1 rais+ conc]ns  
ab\t transp>5cy & b5eficial own]%ip4    
7#c7 ,=eign own]%ip ( resid5tial real   
e/ate may impact h\s+ af=dability1      
p>ticul>ly 9 high-dem& urban & coa/al   
m>kets4  7#d7 ,! ,f$]al ,gov]nm5t       

curr5tly lacks a compreh5sive1 coord9at$
 und]/&+ ( ! ext5t & impact ( =eign     
resid5tial prop]ty own]%ip4  #c4 ,/udy  
on =eign resid5tial real e/ate pur*ases 
7a7 ,9 g5]al ,! ,comptroll] ,g5]al ( !  
,unit$ ,/ates %all conduct a /udy on !  
pur*ase ( resid5tial real e/ate 9 !     
,unit$ ,/ates by =eign individuals1     
entities1 & gov]nm5ts4  7b7 ,scope ,!   
/udy conduct$ "u subsection 7a7 %all    
include-- 7#a7 an analysis ( ! volume & 
geographic conc5tration ( =eign         
resid5tial real e/ate pur*ases 9 !      
,unit$ ,/ates s9ce ,janu>y #a1 #bjae2   
7#b7 an assessm5t ( ! own]%ip /ructures 
us$ 9 ! pur*ases describ$ 9 p>agraph    
7#a71 includ+ %ell companies & tru/s2   
7#c7 an evaluation ( ! implications ( ! 
pur*ases describ$ 9 p>agraph 7#a7 on    
h\s+ af=dability & availability =       
resid5ts ( ! ,unit$ ,/ates2  7#d7 a     
review ( ,f$]al1 ,/ate1 & local data    
collection ef=ts on =eign prop]ty       
own]%ip & any gaps 9 t data2 &  7#e7 a  
review ( relevant national security     

conc]ns relat+ to ! pur*ases describ$ 9 
p>agraph 7#a71 includ+ proximity (      
prop]ties to s5sitive sites4  7c7       
,report ,n lat] ?an #a ye> aft] ! date (
 enactm5t ( ?is ,act1 ! ,comptroll]     
,g5]al ( ! ,unit$ ,/ates %all submit to 
! ,committee on ,f9ance ( ! ,s5ate a    
report ( ! /udy conduct$ "u subsection  
7a74  #d4 ,,hud assessm5t &             
recomm5dations  7a7 ,9 g5]al ,!         
,secret>y ( ,h\s+ & ,urban ,developm5t1 
9 coord9ation ) ! ,comptroll] ,g5]al ( !
 ,unit$ ,/ates1 %all-- 7#a7 review !    
f9d+s ( ! /udy requir$ "u section       
#c7;a72  7#b7 evaluate ! impact ( =eign 
real e/ate inve/m5t on h\s+ m>kets &    
af=dability 9 ! ,unit$ ,/ates2 &  7#c7  
consult ) ,/ate & local h\s+ au?orities 
on tr5ds 9 ! =eign pur*ase ( resid5tial 
real e/ate4  7b7 ,policy ,recomm5dations
 ,n lat] ?an #ahj days aft] ! date (    
submission ( ! report "u section #c7;c71
 ! ,secret>y ( ,h\s+ & ,urban           
,developm5t %all submit to ,congress a  
report t includes-- 7#a7 recomm5dations 

= improv+ ! transp>5cy ( =eign own]%ip 9
 resid5tial prop]ty transactions 9 !    
,unit$ ,/ates2  7#b7 recomm5dations =   
protect+ access to resid5tial real e/ate
 transactions = resid5ts ( ! ,unit$     
,/ates2 &  7#c7 any legislative or      
regulatory actions det]m9$ necess>y to  
c>ry out ! recomm5dations describ$ 9    
p>agraph 7#a7 & 7#b74