The proposed bill, HB2439, seeks to amend existing Arizona law regarding the conveyance of land by prohibiting the transfer of land to federally banned corporations. This prohibition applies to any agent or entity under significant control of such corporations. The bill defines "federally banned corporation" as a company banned by specific federal agencies, including the Federal Communications Commission and the U.S. Department of Commerce, while explicitly excluding the U.S. government and its territories.

In addition to the conveyance prohibition, the bill also restricts the sale of state lands to federally banned corporations. It introduces technical and conforming changes to existing statutes, ensuring that these new provisions are integrated into the current legal framework. Overall, the bill aims to enhance state control over land transactions by preventing entities deemed a security risk from acquiring state property.

Statutes affected:
Introduced Version: 33-459, 37-231, 37-240, 27-271
House Engrossed Version: 33-459, 37-231, 37-240, 27-271