This bill proposes significant updates to the Arizona Revised Statutes by adding a new section, 33-459, which prohibits the sale, lease, or conveyance of real property interests to individuals or entities associated with certain hostile nations, including China, Iran, North Korea, and Russia, as well as their affiliates and subsidiaries. The bill outlines specific categories of prohibited owners and lessees, including those with military service in these countries.

Additionally, the bill mandates that any prohibited owners or lessees must dispose of their real property interests within one year of the law's effective date or the date of acquisition, whichever is applicable. If they fail to do so, the Department of Administration will assume ownership and sell the property at public auction. The bill also establishes a notification system involving county recorders and the Department of Public Safety to maintain a list of prohibited owners and facilitate investigations, with violations resulting in a class 4 felony charge.

Statutes affected:
Introduced Version: 33-459