The proposed bill would update current statutes by introducing new regulations on the sale, lease, or sublease of state lands to foreign entities classified as hostile to the United States. Specifically, it would prohibit such transactions without prior approval from a newly established Foreign Entity Review Commission (1. Prohibits the sale, lease or sublease of state lands to a hostile foreign entity without approval from the Commission.). Additionally, it would require grantors and their agents to submit valid identification of the grantee to the Arizona Department of Real Estate (ADRE) and maintain copies of this identification (2. Requires a grantor and the grantor's agent to submit a valid form of the grantee's identification to the ADRE.). The bill also introduces civil penalties for violations, allowing the Attorney General to take action against offenders, with knowing violations classified as misdemeanors or felonies depending on the circumstances (6. Allows the AG to bring an action against a person or entity that violates the outlined prohibitions relating to conveying land in Arizona., 8. Classifies, as a class 1 misdemeanor, a knowing violation of the outlined land prohibitions...). Furthermore, it defines key terms such as "foreign entity" and "hostile," and outlines the structure and responsibilities of the Commission (15. Defines foreign entity..., 9. Establishes the Commission within the ADRE consisting of...). Overall, these updates aim to enhance oversight of land transactions involving foreign interests, particularly those considered potentially hostile.

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