Protecting Against Foreign Adversary Investments Act of 2024

This bill expands the Committee on Foreign Investment in the United States' (CFIUS) authority to review foreign real estate transactions that could impact national security. It requires CFIUS to review any real estate purchase or lease by a foreign entity of concern that exceeds $1 million in value or 100 acres, or meets combined thresholds over a 3-year period. The bill mandates annual reports from the Director of National Intelligence on foreign real estate holdings near critical infrastructure and requires federal agencies to develop best practices for state and local officials regarding potential transactions with foreign entities of concern. These provisions apply to transactions reviewed by CFIUS after the bill's enactment date.