Bill > SB103

This bill establishes new restrictions on real property purchases and government contracts for certain foreign entities and individuals from China, Iran, North Korea, and Russia. Specifically, the legislation prohibits governmental entities, companies, and individuals from these four countries from purchasing or acquiring title to real property in Texas. The bill also bars these same entities and individuals from entering into contracts payable with public money. The law defines "control" as ownership or voting power of 50 percent or more of an entity's outstanding voting interests. Importantly, the restrictions do not apply to U.S. citizens or lawful permanent residents, including individuals who are citizens of foreign countries. The provisions will take effect on September 1, 2025, and will only apply to property purchases and contracts made on or after that date. The bill aims to limit economic and property-related interactions with entities from specified countries that are potentially considered adversarial to U.S. interests, representing a significant policy shift in state-level foreign engagement restrictions.