This bill proposes significant updates to section 33-443 of the Arizona Revised Statutes, specifically targeting the restrictions on foreign adversaries regarding real property transactions. Under the current law, foreign adversary nations or agents are prohibited from purchasing or acquiring substantial interests in real property. The bill expands this prohibition to include leasing and obtaining concessions, as well as any transaction that results in the acquisition of property rights, regardless of whether it involves a transfer of title. It also introduces detailed definitions of various terms related to real property transactions, such as "lease," "concession," and "surveillance device," and outlines specific actions that constitute violations, including the installation of certain types of equipment on real property.

Additionally, the bill enhances enforcement mechanisms by allowing the attorney general to seek immediate injunctions and forfeiture orders against violators. It mandates that public service corporations and other entities notify the attorney general if they suspect foreign adversaries have installed equipment on their property. The bill also establishes penalties for violations, including class 5 felonies for foreign adversary agents who breach the new restrictions. Overall, the proposed changes aim to strengthen the state's ability to regulate foreign involvement in real estate and protect public interests.

Statutes affected:
Introduced Version: 33-443