H.R. 7074 — Keeping Public Lands Out of Adversarial Hands Act

This section adds the Secretary of the Interior as a member of the Committee on Foreign Investment in the United States (CFIUS) with respect to covered transactions (i.e., foreign investments that could affect U.S. national security, including certain real estate purchases) involving land or resources adjacent to sites owned or managed by the Bureau of Land Management, Bureau of Reclamation, Bureau of Indian Affairs, Bureau of Ocean Energy Management, National Park Service, or United States Fish and Wildlife Service. The section further requires CFIUS, upon notification from the Secretary of a reportable land or resource transaction (i.e., a transaction the Secretary believes is covered and involves acquisition of an interest in land or resources by a foreign person of China, North Korea, Russia, or Iran), to determine whether it is a covered transaction and, if so, whether to initiate review or take other authorized action; these requirements sunset for each country upon its removal from the list of foreign adversaries at 15 C.F.R. § 791.4.