Creates provisions relating to foreign ownership of real estate

Certain foreign governments or entities shall not purchase, hold or acquire title to real property in this state if such foreign government or entity is listed as a foreign adversary or a foreign business entity; headquartered in a country that is a foreign adversary; directly or indirectly held or controlled by a foreign adversary; owned the majority of stock or other ownership interest which is held or controlled by citizens of a foreign adversary; or controlled by or has the majority of stock or other ownership interest held or controlled by citizens of a foreign adversary.

This act shall not apply to a foreign adversary possessing real property interest if such foreign adversary is a duly registered business in good standing with the Secretary of State for seven years or longer prior to August 28, 2026, has been approved by the United States Committee of Foreign Investment as described in the act, and maintains an active national security agreement with the federal government.

This act is identical to SB 211 (2025), HB 897 (2025), SB 893 (2024), and substantially similar to SB 649 (2023). JULIA SHEVELEVA