Treasury Department, Investment Security Office
The final rule establishes regulations to implement the provisions relating to real estate transactions in section 721 of the Defense Production Act of 1950, as amended by the Foreign Investment Risk Review Modernization Act of 2018. This rule sets forth the scope of, and process and procedures relating to, the national security review by the Committee on Foreign Investment in the United States of certain transactions involving the purchase or lease by, or concession to, a foreign person of certain real estate in the United States. The interim rule also adds a new definition for the term "principal place of business," and the Department of the Treasury is seeking comments on this definition.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Office of Investment Security 31 CFR Part 802 RIN 1505-AC63 AGENCY: Office of Investment Security, Department of the Treasury. ACTION: Final rule; interim rule with request for comments. SUMMARY: The final rule establishes regulations to implement the provisions relating to real estate transactions in section 721 of the Defense Production Act of 1950, as amended by the Foreign Investment Risk Review Modernization Act of 2018. This rule sets forth the scope of, and process and procedures relating to, the national security review by the Committee on Foreign Investment in the United States of certain transactions involving the purchase or lease by, or concession to, a foreign person of certain real estate in the United States. The interim rule also adds a new definition for the term “principal place of business,” and the Department of the Treasury is seeking comments on this definition. DATES: Effective date: The final rule is effective on February 13, 2020. The interim rule adding § 802.232 is effective on February 13, 2020. Comment date: The Department of the Treasury (Treasury Department) is seeking written comments from the public on the definition of “principal place of business” found at § 802.232, which must be received by February 18, 2020. ADDRESSES: Written comments on § 802.232 may be submitted through one of two methods: Electronic Submission: Comments may be submitted electronical…
Citation: 85 FR 3158
