To prohibit the conveyance, directly or indirectly, of property at Naval Station, Long Beach, California, to a commercial shipping company owned or controlled by a foreign country.

Prohibits the Secretary of Defense, in disposing of real property in connection with the closure of the Long Beach Naval Air Station, California, from conveying any portion of such property to a shipping company owned or controlled by a foreign country. Requires the Secretary to prohibit any subsequent reconveyance of such property to such a company. Provides a reversionary interest and a right of entry for the United States if any such property is so conveyed or reconveyed.