Loading chat...
ID H0496
Bill
Status
3/12/2024
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
-
Prohibits foreign governments and foreign state-controlled enterprises from purchasing, acquiring, or holding a controlling interest in agricultural land, forest land, water rights, mining claims, or mineral rights in Idaho.
-
Exempts federally recognized Indian tribes from the definition of "foreign government," allowing them to purchase and hold these property types.
-
Defines "controlling interest" as either ownership of more than 50% of an entity or 50% or less ownership where a foreign government actually directs the entity's business affairs.
-
Provides exceptions for interests in these property types acquired by foreign governments or state-controlled enterprises before the bill's effective date and for foreign pension funds.
-
Takes effect immediately upon passage and approval with retroactive application to April 3, 2023.
Legislative Description
Amends existing law to exempt federally recognized Indian tribes from the definition of “foreign government,” such that certain restrictions regarding real property will not apply to them, and to include forest land as one of the kinds of property that a foreign government may not purchase.
PROPERTY
Last Action
Reported Signed by Governor on March 11, 2024 Session Law Chapter 24 Effective: Retroactive to 04/03/2023
3/12/2024