Protecting Our Farms and Homes from China Act

Key Points

• Would ban certain China-linked companies and people from buying or leasing U.S. farmland, including land used for farming, ranching, timber, and some food processing sites.
• Would require covered China-linked owners or renters of U.S. farmland to commit to selling (letter of intent in 180 days) and fully divest within 1 year after the law takes effect.
• Sets penalties for illegal farmland ownership/leases: $100 per acre per day, plus possible criminal penalties (up to 5 years) and forced sale of seized land at public auction.
• Creates a temporary ban on covered China-linked entities buying U.S. homes (like single-family homes, condos, and small multi-unit buildings) for 2 years, with the option for the President to extend it every 2 years.
• Requires covered China-linked entities to sell U.S. residential property within 1 year, with a $1,000-per-day fine per home, and requires a report to Congress on housing market impacts.