ND HB1503

Creates a registration and permitting system requiring "covered persons" (those owning or controlling real estate, commercial assets, or businesses in North Dakota that are owned by, controlled by, or subject to direction of foreign adversaries) to register with the attorney general before operating in the state.

Exempts businesses registered and in good standing in North Dakota for seven or more years as of the effective date, and those approved by the Committee on Foreign Investment in the United States with active national security agreements.

Requires the attorney general to conduct state security reviews within 90 days of registration, consulting with federal and state military and intelligence organizations, with results available as public records subject to confidentiality protections.

Authorizes permit revocation if criminal violations constituting a threat to the state are uncovered within the previous five years, with covered persons allowed 12 months to wind down operations and 36 months to divest real property and commercial assets after revocation.

Directs legislative management to study the number of foreign adversary-controlled entities in North Dakota during 2023-24 interim and report findings to the 69th legislative assembly.

Sunsets the registration and permitting requirements on July 31, 2025.