TX SB2117

Establishes the Texas Committee on Foreign Investment, chaired by a governor-appointed representative and including the attorney general, land commissioner, comptroller, agriculture commissioner, and heads of DPS, PUC, Department of Information Resources, and Railroad Commission

Requires persons entering covered foreign transactions to notify the attorney general at least 90 days before closing; the attorney general must complete initial review within 30 days and any secondary investigation within 45 additional days

Applies to transactions involving scrutinized foreign entities (non-U.S. citizens/residents, foreign governments, or businesses from countries without U.S. trade agreements) that affect critical infrastructure, agricultural land, sensitive personal data, or strategic industries identified by the governor

Authorizes mitigation agreements requiring data protection protocols, security clearances, access restrictions, and compliance reporting; violations carry civil penalties up to $50,000 per violation, with the attorney general empowered to seek injunctions and forced divestiture

Requires annual reports to the governor and legislature by September 1 each year; governor must adopt criteria by December 1, 2025, with the law applying to contracts entered on or after January 1, 2026