New Treasury Rule Expands Oversight of Foreign Land Buys Near Military Bases

The rule expands the review process for foreign land purchases around more than 60 military bases.

A sign opposing a corn mill stands near 370 acres recently annexed by the city for the project in Grand Forks, N.D. Many residents don't want the project in the city because the owner has reputed ties to the Chinese Communist Party through its company chairman. Allan Stein/The Epoch Times

The Treasury Department is expanding the review process for land purchases around more than 60 military bases following a land-buying spree by Chinese entities.

The department announced the new rule on Nov. 1, saying it “significantly expands its ability to review certain real estate transactions by foreign persons near more than 60 military bases and installations across 30 states.”