Bill > SB1082

This bill prohibits foreign adversary nations and foreign adversary agents from purchasing, owning, or acquiring substantial interests (defined as 30% or more) in real property in Arizona. The Attorney General is tasked with enforcing this prohibition and must investigate suspected violations by reporting to law enforcement and the Committee on Foreign Investments in the United States. If a court finds that a foreign adversary nation or agent has illegally obtained property, the court will order the property to be sold, with proceeds distributed first to lienholders, then to cover enforcement expenses, and finally to the original property owner. A foreign adversary nation or agent can temporarily acquire property through inheritance, security interests, or debt collection, but must sell within 120 days. The bill defines a "foreign adversary nation" as a country identified by the U.S. Director of National Intelligence as a national security risk or determined by the U.S. Department of Commerce as such. A "foreign adversary agent" includes entities like state-owned enterprises, espionage agents, and businesses controlled by foreign adversary nations. The bill explicitly states that enforcement cannot be based on race or national origin and that title insurers and real estate professionals are not liable for violations. The legislative findings emphasize the act's purpose of protecting Arizona's critical infrastructure, military assets, and national security from potential foreign threats.

Budget and Finance, Military Affairs and Security

https://apps.azleg.gov/BillStatus/BillOverview/81911