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Bill Detail: HB23-1152

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Title Prohibit Foreign Ownership Agricultural and Natural Resources
Status House Committee on State, Civic, Military, & Veterans Affairs Postpone Indefinitely (02/23/2023)
Bill Subjects
  • Agriculture
  • Natural Resources & Environment
House Sponsors B. Bradley (R)
Senate Sponsors
House Committee State, Civic, Military and Veterans Affairs
Senate Committee
Date Introduced 01/31/2023
Summary

The bill prohibits, on or after January 1, 2024, a nonresident
foreign citizen, foreign entity, or foreign government of the People's
Republic of China, the Russian Federation, or any country determined by
the United States secretary of state to be a state sponsor of terrorism
(covered foreign person) from acquiring a controlling ownership share in
agricultural land, mineral rights, or water rights (property interest) in the
state (prohibition). A covered foreign person who acquires a controlling
ownership share in a property interest in the state prior to January 1, 2024,
may continue to own the property interest but may not acquire a
controlling ownership share in any additional property interests in the
state.
No later than March 1, 2024, or 60 days after acquiring any
ownership in a property interest in the state, whichever is later, a covered
foreign person must register with the secretary of state (registration
requirement). The secretary of state is authorized to promulgate rules to
implement the registration requirement.
If the attorney general has reason to believe that a covered foreign
person has violated the prohibition or has not complied with the
registration requirement, the attorney general must commence a civil
action against the covered foreign person in a district court. If a district
court finds that the covered foreign person has violated the prohibition,
the district court must issue a judgment reverting the property interest to
the state. If the district court finds that the covered person has not
complied with the registration requirement, the district court must impose
a penalty of no more than $2,000 for each violation.

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