Bill > SB1683

This bill amends existing Arizona law to prohibit foreign adversary nations or their agents from acquiring or holding substantial interests in real property within the state, with exceptions for inheritance or debt collection if the property is divested within 120 days. The prohibition extends to various forms of acquisition, including leases and concessions, and covers transactions designed to circumvent the law, such as using intermediaries. It also prevents foreign adversaries from installing or accessing certain equipment like surveillance devices on Arizona real estate. The Attorney General is tasked with enforcing these provisions, with penalties including court orders for divestment and sale of the property, and potential criminal charges for violations. The bill defines "foreign adversary agent" and "foreign adversary nation" based on national security risk assessments and federal regulations, and clarifies that a "substantial interest" is now defined as five percent or more, considering potential future interests. This legislation is declared an emergency measure, effective immediately upon passage.

Government Affairs

https://apps.azleg.gov/BillStatus/BillOverview/85324