Bill > H3408

This bill adds a new section to South Carolina law that prohibits companies owned or controlled by United States-declared foreign adversaries (specifically naming China, the Chinese Communist Party, Russia, Iran, and North Korea) from owning, leasing, possessing, or controlling real estate within the state. If such a company acquires real estate in violation of this prohibition, the transaction is automatically considered void, and the title to the property reverts to the State of South Carolina without any compensation to the foreign adversary. The bill allows county, city, or town attorneys, the Attorney General, or other non-foreign adversary parties to file legal actions to eject the foreign adversary from the property or quiet the title. However, if the foreign adversary subsequently sells the property to a non-foreign adversary entity, the title becomes valid for the new purchaser. The bill defines key terms broadly, including "company" and "development" as any profit-seeking entity, and explicitly includes all agencies and instrumentalities of the named foreign adversaries. The law will take effect upon gubernatorial approval and will first be applied after 2025, with a specific provision ensuring it does not conflict with any existing treaties between the United States and other countries.

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https://www.scstatehouse.gov/billsearch.php?billnumbers=3408&session=126&summary=B