S. 176 — Not One More Inch or Acre Act

This section directs the President to prohibit, on or after the date of enactment, the purchase of public or private real estate located in the United States by (1) any citizen of the People's Republic of China (PRC); (2) any covered foreign entity; or (3) any foreign person acting for or on behalf of the Chinese Communist Party (CCP), a covered foreign entity, or a PRC citizen. It further directs the President, upon determining that existing ownership of such real estate by the persons or entities described above poses a national security risk, to require divestiture within one year of enactment. Exceptions apply to PRC citizens admitted as refugees (as defined in INA §101(a)(42)) or granted asylum or withholding of removal; the divestiture requirement does not apply to real estate owned or held for personal use by U.S. citizens or lawful permanent residents. The section defines "covered foreign entity" as one acting on behalf of or directed by the PRC government or CCP, organized under PRC law or with principal place of business there, owned/controlled by or subject to jurisdiction of the PRC government or CCP, or a subsidiary thereof; "foreign person" as any individual or entity that is not a U.S. person; and other terms including "U.S. person" and an expanded definition of "United States."

This section modifies civil penalties under the Agricultural Foreign Investment Disclosure Act of 1978—which requires foreign persons to report acquisitions, transfers, or changes in interests in U.S. agricultural land to USDA—to range from 10% to 25% (from up to 25%) of the fair market value, on the date of assessment, of the agricultural land interest involved.