- Top US senator enters bill that will limit Chinese access to US land.
- Chinese decades-long purchase of US farmlands and real state seen as a threat.
- Bill authorizes US President Joe Biden to ban the sale of US lands.
Last Thursday, a top US senator urged to pass a bill that will ban China from buying and owning US land. These would encompass farmland and real estate, which would be exempted from Chinese ownership.
Top US Senator Urges To Pass 'Not One More Inch or Acre Act'
The legislative act is called the Not One More Inch or Acre Act, which keeps land in the US free of Chinese ownership, according to a bill authored by Sen. Tom Cotton. The legislature states that a minimum fine of 10% of the land's value should ownership be foreign, which would fall under the Agricultural Foreign Investment Disclosure Act, per Farmland Info.
Sen. Tom Cotton (R-Ark.), the main author of the bill, wants to combat the threat of the CCP to America. He stated that the Chinese Communist Party has been buying US farmland and real estate. He added that the acquisition of these resources by the CCP is unsuitable for the US. Claimed they are staging points to compromise the United States that includes American businesses and military bases, citing Fox News.
The co-sponsor of Sen. Katie Britt (R-Ala.) stated that China is the worst threat in the geopolitical and national security sphere.
The FBI usually opens new counterintelligence directed against Chinese entities twice daily. He alleged that China is getting intellectual property, using TikTok, buying US farmlands, and using unfair trade that affects Alabama steelmakers and shrimpers, calling for more strength and less weakness.
Read Also : Who Is the WSJ Reporter Arrested in Russia?
US To Ban Chinese from Buying US Land
The bill will prevent non-US persons or entities from having access to properties in the US. It will remove these suspected properties if it's a national risk. One example is farmland in Grand Forks, North Dakota which is 370 acres and is 15 miles from a Grand Forks Air Force Base where technology research is done.
The land purchase is for the Chinese corn mill project, which was stopped by the USAF two months back, saying that it is a threat to national security, but Fufeng USA which is China-based has ownership up to now. To this effect, Cotton said that no one who is linked to the CCP should not own any US land or its soil. Remark that any US property getting exploited by the Chinese must be sold.
The maximum penalty that can be imposed on any Chinese company to avoid a repeat will cost them about $120,000 up to $21 million if the owners are from overseas. The cost of $21 million is the most amount at 25% of the fair value of the property. One ex-military Chinese billionaire paid little as the AFIDA has no maximum penalty. But a 10% minimum mentioned in the bill would be up to $8 million or above.
Top US senators intervened and urged to pass a bill to ban the Chinese from buying US land.
