Bill > HB402

This bill establishes new restrictions on real property purchases by foreign entities from designated countries that are considered a national security risk. Specifically, the legislation prohibits governmental entities, companies, and individuals from countries identified as national security threats from purchasing agricultural land, mines, quarries, minerals, or standing timber in Texas. The bill defines "designated countries" as those labeled as security risks in the U.S. Intelligence Community's Annual Threat Assessments. Exceptions are made for U.S. citizens, lawful permanent residents, and property intended as a personal residence homestead. If such a prohibited purchase occurs, the Attorney General can bring an action in court to divest the entity's property interest and appoint a receiver to manage the property's sale. The bill also empowers the Attorney General to conduct discovery and request ownership information from the Secretary of State to investigate potential violations. The law will take effect on September 1, 2025, and will only apply to property purchases made on or after that date, reflecting concerns about foreign ownership of strategic land resources and potential national security implications.

Military Affairs and Security

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB402