The proposed bill aims to prohibit certain foreign entities, specifically those connected to the People's Republic of China, from purchasing or acquiring title to agricultural land in Arkansas. It amends existing law to clarify that, while aliens generally have the capacity to take and transfer land, there are specific restrictions for governmental entities of China and companies headquartered or controlled by the Chinese government. The new section added to the Arkansas Code outlines the prohibitions, the process for divestiture of interests in agricultural land, and the authority of the Attorney General to investigate potential violations.

Key provisions include the requirement for entities found in violation to divest their interests within 90 days, and if they fail to do so, the Attorney General can initiate court proceedings for judicial foreclosure of the land. The bill also ensures that title to agricultural land remains valid despite any violations by previous owners or interest holders, and it establishes that individuals not subject to the restrictions are not obligated to verify the status of others regarding these prohibitions.

Statutes affected:
Old version HB1479 V2 - 3-9-2023 09:23 AM: 18-11-101(a)
HB 1479: 18-11-101(a)