New Ownership Disclosure Requirements for Certain Federal High-Security Leased Space | Insights
Share On Dec. 31, 2020, the president signed into law the Secure Federal Leases from Espionage and Suspicious Entanglements Act (Secure Federal Leases Act), Pub. L. 116-276. The Act imposes disclosure requirements regarding the foreign ownership, particularly “beneficial ownership” of prospective lessors of “high-security space” (i.e., property leased to the federal government having a security level of III or higher) as well as existing lessors of such space. The Act applies to any lease or lease novation entered into six months after the date of the enactment of the Act. These requi...
Source: gtlaw.com
