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TX HB191
Bill
Status
11/12/2024
Primary Sponsor
David Spiller
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AI Summary
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Prohibits governmental entities of "designated countries," organizations headquartered in those countries, organizations controlled by designated country governments, and subsidiaries of such organizations from purchasing or acquiring title to real property in Texas
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Defines "designated country" as any nation identified as a national security risk to the United States in each of the three most recent Annual Threat Assessments issued by the U.S. Director of National Intelligence
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"Control" is defined as holding more than 50 percent of voting interests in an organization; "real property" includes land, improvements, mines, minerals in place, and standing timber, but excludes short-term leases of 5 years or less and security interests like mortgages
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Authorizes the Texas Attorney General to bring enforcement actions in district court, with violations resulting in court-appointed receivers to manage and sell the property
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Violations do not void the property transaction itself, and the law applies only to acquisitions on or after September 1, 2025
Legislative Description
Relating to the purchase of or acquisition of title to real property by certain foreign entities.
Property Interests
Last Action
Referred to Homeland Security, Public Safety & Veterans' Affairs
2/27/2025