Bill > S0106

This bill amends Section 27-13-30 of the South Carolina Code of Laws, which restricts land ownership by foreign individuals or corporations controlled by foreign entities. Currently, the law limits such aliens or alien-controlled corporations to owning or controlling up to five thousand acres of land in the state. The proposed bill would reduce this limitation to one thousand acres, effectively decreasing by 80% the amount of land that can be owned or controlled by non-U.S. citizens or foreign-controlled corporations. The existing exemptions remain unchanged, meaning the restrictions still do not apply to lands owned or controlled by such entities prior to March 9, 1896, or lands mortgaged to such entities on that date. The bill would take effect immediately upon receiving the Governor's approval, potentially impacting foreign land ownership strategies in South Carolina by significantly constraining the total land area that can be acquired.

Justice

https://www.scstatehouse.gov/billsearch.php?billnumbers=106&session=126&summary=B