Bill > SB1248

This bill modifies Missouri state law regarding real property acquisition by foreign interests, establishing significant restrictions on property purchases by aliens, foreign businesses, and entities from certain designated countries. The legislation defines key terms like "agricultural land", "alien", and "designated country", and creates a comprehensive framework for preventing property acquisition by individuals or organizations deemed potential national security risks. Specifically, the bill prohibits purchases of real property by governmental entities, companies, or individuals from designated countries, which are countries identified as posing national security threats by U.S. intelligence assessments. The attorney general is empowered to investigate potential violations, and courts can order divestment of improperly acquired property. Violations can result in civil penalties up to $250,000 or 50% of the property's market value, and individuals committing unlawful property purchases can face class E felony charges. The governor is granted authority to designate countries or transnational criminal organizations as potential security risks, with the ability to add or remove such designations over time. The bill aims to protect state interests by creating a robust legal mechanism to scrutinize and potentially block real estate transactions by foreign entities that might compromise state or national security.

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https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=458