IL HB1267

Prohibits noncitizens from purchasing public or private real estate in Illinois, with the Governor directed to take necessary actions to implement the ban upon the bill's effective date

Defines "noncitizen" broadly to include foreign nationals, foreign governments, foreign entities, and any corporations, partnerships, or associations created under foreign laws or substantially owned by foreign nationals

Requires the Commission on Government Forecasting and Accountability to submit a report to the General Assembly within 6 months detailing the history of real estate purchases by noncitizens and the percentage of Illinois real estate owned by noncitizens

Report must include recommendations to make it easier for citizens and harder for noncitizens to purchase real estate in Illinois, including farmland

The prohibition provisions automatically repeal 5 years after the effective date of the Act