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TX SB307
Bill
Status
11/12/2024
Primary Sponsor
Lois Kolkhorst
Click for details
AI Summary
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Prohibits governmental entities, organizations, and individuals from "designated countries" (nations identified as national security threats in three consecutive U.S. Intelligence Community Annual Threat Assessments) from purchasing or acquiring title to Texas real property if it would create a risk to public health, safety, and welfare
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Defines covered "real property" as agricultural land, improvements on agricultural land, mines or quarries, minerals in place, and standing timber
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Exempts U.S. citizens and lawful permanent residents (including dual citizens), organizations owned/controlled by such individuals, property intended as a residence homestead, and leasehold interests under 100 years
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Authorizes the Attorney General to investigate suspected violations, issue civil investigative demands, conduct depositions, and bring enforcement actions in district court where the property is located
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Requires courts finding a violation to appoint a receiver to manage and sell the property, with sale proceeds returned to the violating party; applies only to property acquisitions on or after September 1, 2025
Legislative Description
Relating to the purchase of or acquisition of title to real property by certain aliens or foreign entities.
Property Interests
Last Action
Co-author authorized
2/13/2025