Bill > S0204

This bill amends South Carolina law to significantly restrict land ownership by foreign entities, particularly those from countries designated as "foreign adversaries" by the U.S. Secretary of Commerce. The legislation reduces the maximum land ownership for aliens from 500,000 acres to 1,000 acres and completely prohibits corporations controlled by foreign adversaries from acquiring any real property in the state. A "corporation controlled by a foreign adversary" is defined as an entity that is either wholly owned by a foreign adversary, has a foreign adversary as a dominant shareholder, or has cumulative foreign adversary ownership meeting specific thresholds. The bill also introduces a new legal provision allowing summary judgment in civil cases initiated by such foreign-controlled entities if the defendant can prove the lawsuit is an "abuse of process" intended to advance the foreign adversary's economic, competitive, military, or political interests. Exceptions are made for certain existing businesses, those with prior state incentive commitments, and foreign nationals who are also U.S. citizens or permanent residents seeking limited residential property. The bill aims to protect state interests by reducing potential national security risks associated with foreign land ownership and strategic litigation.

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https://www.scstatehouse.gov/billsearch.php?billnumbers=0204&session=126&summary=B