New Yorkers were understandably taken aback when Nathan’s Famous, one of America’s most iconic food brands, was sold in a $450 million all-cash deal to Smithfield Foods, a company ultimately owned by interests tied to the People’s Republic of China. For many, this wasn’t just a business transaction, it felt like another piece of American heritage slipping out of American hands.

From a business perspective alone, this deal should raise red flags. Nathan’s Famous was built on decades of trust, quality and an unmistakably American identity. When ownership shifts overseas, decisions about sourcing, standards and long-term priorities are no longer driven by American consumers or values. At a time when people already joke that they don’t really know what’s in hot dogs anymore, foreign government-linked ownership hardly builds confidence.

More importantly, this deal highlights a growing and troubling trend: foreign adversaries gaining control over American brands, assets and land. That is why I introduced legislation to prohibit the sale or lease of real property in New York state to the Chinese Communist Party, the People’s Republic of China or any affiliated entities.

This bill is about protecting New York from strategic risks posed by a foreign government that does not share our values or respect the rule of law. Across the country, we’ve seen hostile foreign entities purchase farmland and property near critical infrastructure, assets that carry long-term economic and security implications.

My legislation draws a clear line. It bans these transactions and gives the attorney general the authority to stop or reverse deals that violate this potential law. Real property is not just another commodity, it is foundational to our economy, our food supply and our security.

New York should be strengthening homegrown businesses and protecting our land, not handing control to foreign governments with opaque intentions. Assembly Bill A.9031 is a common-sense step to put New York’s interests first, now and for the future.