U.S. Senate Committee on Banking, Housing and Urban Affairs says final NDAA includes Protect Our Bases Act, Defense Production Act extension and FIGHT China outbound investment guardrails

The U.S. Senate Committee on Banking, Housing and Urban Affairs published a statement from Chairman Tim Scott highlighting that the final conferenced National Defense Authorization Act includes Banking Committee national security priorities, notably the Protect Our Bases Act, an extension of the Defense Production Act, and the bipartisan Foreign Investment Guardrails to Help Thwart China Act. The package is positioned as strengthening oversight of foreign land purchases near sensitive U.S. military sites, reinforcing critical supply chains, and limiting U.S. capital flows that could support the People’s Republic of China’s military ambitions. Under the Protect Our Bases Act, the Committee on Foreign Investment in the United States process for foreign land purchases near sensitive military, intelligence, and national laboratory sites would be tightened through annual updates of sensitive site records, improved usability of those records for reviews, and annual reporting to Congress. The NDAA provisions also extend and refocus the Defense Production Act on defense production, emergency preparedness, and reducing reliance on adversaries for key inputs such as rare earth minerals, pharmaceuticals, and essential defense components. The FIGHT China Act would authorize the Secretary of the Treasury to prohibit or require notification of certain U.S. investments in sensitive technologies in the PRC, require U.S. persons to notify Treasury of covered investments in specified high-risk sectors, and provide targeted exemptions for de minimis, low-risk, and certain portfolio transactions.