Ban Chinese Communist and Islamist Home Ownership Act

This bill seeks to prohibit certain foreign entities and individuals from purchasing housing in the United States. Beginning on the date of enactment, any covered person would be banned from acquiring housing. The President would be directed to ensure federal agencies promulgate rules to enforce this prohibition and facilitate the divestment of existing housing. Furthermore, the legislation mandates that all existing housing owned by a covered person must be divested within two years of the act's enactment. This divestiture requires selling the property exclusively to a citizen or corporation of the United States. A covered person is broadly defined to include individuals who are citizens of a foreign country of concern, corporations with ownership stakes by such individuals, foreign entities of concern, foreign adversaries, and state sponsors of terrorism. The bill defines "housing" as any structure or portion thereof designed or used for human habitation.