This legislation directs the Secretary of State to take necessary steps to avoid or minimize certain transactions involving diplomatic and consular posts. Specifically, the Secretary must avoid acquiring or leasing buildings where an entity owned or controlled by the Government of the People's Republic of China (PRC) has performed construction since 1949 or holds an ownership interest. It also prohibits entering into or renewing contracts with such PRC-controlled entities for construction, development, or maintenance work on these foreign posts. Should the Secretary of State undertake an action inconsistent with these restrictions, a detailed notification must be provided to the House Committee on Foreign Affairs and the Senate Committee on Foreign Relations. This notification is required within seven days, either before or after the action, and must include a determination of whether the action serves the national security interest of the United States. Furthermore, it must identify the interest advanced by the inconsistent action, provide a detailed explanation, and outline any steps taken or planned to mitigate potential national security vulnerabilities. The bill defines a "covered building" as any building used or intended for a consular or diplomatic post outside the United States. A "covered entity" refers to any entity directly or indirectly owned or substantially controlled by the Government of the People's Republic of China or its agents.