Bill > HB1849

This bill introduces significant restrictions on real property purchases by certain foreign individuals and entities in Texas, specifically targeting governmental entities, companies, and individuals from designated countries like China, Iran, North Korea, and Russia. The legislation creates a new legal framework that prohibits these entities from purchasing or acquiring title to real property in Texas, with exceptions for U.S. citizens, lawful permanent residents, and citizens of foreign countries not domiciled in designated countries. If a prohibited entity attempts to purchase real property, the attorney general can investigate the transaction, bring legal action, and potentially refer the matter to law enforcement. In cases of violations, a district court can issue an order divesting the individual or entity's interest in the property, appointing a receiver to manage the property, and mandating its sale. The bill establishes a state jail felony offense for individuals domiciled in designated countries who intentionally purchase real property, and imposes substantial fines on companies violating the prohibition—either $250,000 or 50 percent of the property's market value. The governor is granted the authority to designate additional countries subject to these restrictions after consulting with public safety and homeland security officials, and the law will take effect on September 1, 2025, applying only to property acquisitions on or after that date.

Military Affairs and Security

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1849