Protect Our Bases Act of 2023

Protect Our Bases Act of 2023

This bill revises the authority of the Committee on Foreign Investment in the United States (CFIUS) to review the national security implications of foreign real estate transactions. 

Specifically, the bill allows CFIUS to prescribe regulations for treating facilities and properties of the intelligence community and national laboratories as sensitive sites for national security purposes.

Additionally, CFIUS must annually submit a classified report to Congress on the activities of CFIUS relating to federal facilities and property that are determined to be sensitive for national security purposes. 

The bill also requires each member of CFIUS (i.e., each federal agency that is a member of CFIUS, such as the Department of Defense and the Department of Energy) to annually review the list of military installations and other U.S. government sites that are sensitive for national security purposes. (This list in the Code of Federal Regulations identifies the military installations around which certain real estate transactions are covered under the jurisdiction of CFIUS.) CFIUS must then submit an annual report to Congress certifying the completion of such review and information related to the list's accuracy.