Seems facially unconstitutional. Will maybe force a proper court decision on whether the Bills of Attainder clause applies to corporations.
Why are legislators so focused on banning TikTok, rather than regulating whatever it is that TikTok does that they don't like?
Don't like data about your constituents being in the possession of a company with ownership ties to the Chinese government or communist party? Do the work to describe what kind of 'ties' are the ones that worry you, what kind of entities are the ones you don't like, what kind of data you don't like being in their hands, and write a law that codifies that.