This doesn't negate the ability of bad actors using shell companies in foreign locations to buy ownership of companies that adds up to 20%, or trying to claim someone is associated with foreign adversaries. If someone on a board of a company is tied to foreign adversaries without the board knowing, that could open up an investigation into that company. All those definitions and provisions do is add extra steps, it doesn't stop anything people are worried about.

They could literally say any investment from the UAE or Saudi Arabia are connected to Iran, a foreign adversary, right after this bill passes, and now a large slew of applications would be implicated.

Either way, if something ends up being sold off to a majority US based ownership, I doubt that would make anything any better on these apps. All this does is just allows the government to decide who in the US is allowed to buy it. Which to me screams "who in our uniparty can we sell this to that will control this how we want it controlled."