The proposed bill would amend current statutes by adding a new section to the Arizona Revised Statutes that prohibits individuals from selling, leasing, or conveying interests in real property to certain designated hostile entities, including those owned or controlled by China, Iran, North Korea, or Russia, as well as their affiliates and individuals who have served in their military. The bill outlines specific categories of prohibited entities and establishes a timeline for existing prohibited owners or lessees to dispose of their property interests, either within one year of the bill's effective date or one year after acquiring the interest.

Additionally, the bill designates the Arizona Department of Administration as the lawful owner of any property interest that is not disposed of in a timely manner and mandates the department to sell such property at public auction, with proceeds going to the state general fund. It also requires the Department of Public Safety to maintain a publicly available list of prohibited owners and lessees, investigate potential violations, and notify relevant authorities. Violations of this section would be classified as a class 4 felony.

Statutes affected:
Introduced Version: 33-459