The proposed bill would update current statutes regarding the conveyance of land in Arizona by prohibiting the sale, lease, or sublease of state lands to foreign entities classified as hostile to the United States without the approval of a newly established Foreign Entity Review Commission (...without approval from the Commission.). It also requires that grantors and their agents submit valid identification for grantees to the Arizona Department of Real Estate (ADRE) (...requires a grantor and the grantor's agent to submit a valid form of the grantee's identification to the ADRE.). Additionally, the bill introduces civil penalties for violations, allowing the Attorney General to take legal action against offenders (...allows the AG to bring an action against a person or entity that violates the outlined prohibitions relating to conveying land in Arizona.). Penalties include a fine of $250,000 or 50% of the fair market value of the property, whichever is greater, and classifies knowing violations as a class 1 misdemeanor, with enhanced penalties for violations near military installations or involving foreign government agents (...classifies, as a class 1 misdemeanor, a knowing violation of the outlined land prohibitions...). These updates aim to increase oversight of land transactions involving foreign entities, particularly those considered hostile.

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