An Act to repeal 710.02 (2) (d) to (g) and 710.02 (3); to renumber and amend 710.02 (1) and 710.02 (9); to amend 710.01, 710.02 (title), 710.02 (2) (intro.), 710.02 (2) (a), 710.02 (2) (b), 710.02 (4) (a) 2., 710.02 (5) (a) and (b) and 710.02 (6); to create 710.02 (1g), 710.02 (1r) (d), 710.02 (2) (h), 710.02 (9) (b), 710.04 and 710.045 of the statutes; Relating to: limitations on ownership of real property in this state by foreign persons. (FE)
Impact
The bill enforces a more stringent regulatory framework surrounding non-resident ownership of agricultural land, altering the current landscape significantly. Beyond just reducing acreage, it introduces new regulations that affect entities categorized as foreign, including increased ownership thresholds that reclassify what constitutes a foreign-owned entity. This shift aims to protect local interests and safeguard agricultural resources from potential foreign control, particularly in the light of national security concerns regarding foreign adversary involvement. This law may potentially lead to divestitures of land held beyond the new limits, impacting land management across the state.
Summary
Senate Bill 219 seeks to modify existing limitations on property ownership by foreign entities in the state. Specifically, the bill reduces the allowance for foreign ownership of agricultural land from 640 acres to 50 acres and eliminates several broad exceptions that previously allowed more leeway for non-agricultural land acquisitions. By doing so, SB219 tightens the governance on agricultural land holdings, primarily impacting foreign persons and entities. The defined foreign persons include non-resident aliens and foreign corporations, as well as establishing stricter criteria around ownership thresholds.
Contention
One of the critical points of contention in SB219 is its outright prohibition on foreign adversaries, determined by the U.S. Department of Commerce, from acquiring any real property in the state. This includes countries under sanctions, such as China, Iran, and Russia. The potential implications of this prohibition raise concerns about the economic relationships between the state and these entities, as well as the administrative challenges of enforcing such limitations. Additionally, the constraints on land ownership near military installations could provoke complexities for existing foreign investments and lead to legal conflicts regarding land usage and ownership rights.
Crossfiled
An Act to repeal 710.02 (2) (d) to (g) and 710.02 (3); to renumber and amend 710.02 (1) and 710.02 (9); to amend 710.01, 710.02 (title), 710.02 (2) (intro.), 710.02 (2) (a), 710.02 (2) (b), 710.02 (4) (a) 2., 710.02 (5) (a) and (b) and 710.02 (6); to create 710.02 (1g), 710.02 (1r) (d), 710.02 (2) (h), 710.02 (9) (b), 710.04 and 710.045 of the statutes; Relating to: limitations on ownership of real property in this state by foreign persons. (FE)
An act to amend Section 2071 of, to amend, repeal, and add Sections 790.035, 929, 2051.5, 2060, 2071, 10102, 10103, 10103.2, 10103.4, 12928.7, and 14047 of, and to add Section 10103.8 to, and to repeal and add Section 10103.2 of, the Insurance Code, relating to insurance.
An act to add Section 21689 to the Public Utilities Code, and to add Section 7102.3 to the Revenue and Taxation Code, relating to airports, and making an appropriation therefor.