This bill amends Louisiana law to prohibit foreign adversaries and their affiliates from acquiring immovable property, particularly near military installations. It introduces definitions for "agent of a foreign adversary" and "mandatary of a foreign adversary," establishing criteria for these classifications. The bill outlines exceptions for U.S. citizens and lawful permanent residents and imposes civil penalties, including a $50,000 fine for foreign actors who do not divest from prohibited properties within a year of a judgment.

Furthermore, the bill grants the attorney general the authority to take legal action against foreign adversaries, including seeking injunctive relief to prevent property transactions and rescinding contracts that violate the law. It also allows for investigative demands or subpoenas to gather information on suspected violations, ensuring compliance with the new regulations. The legislation mandates that any property acquired in violation of these provisions is subject to divestiture or civil forfeiture, while also protecting individuals who unknowingly engaged in transactions with foreign adversaries from adverse effects on their ownership interests. Overall, the bill aims to enhance state security by regulating foreign ownership of property and strengthening the attorney general's enforcement capabilities.

Statutes affected:
HB816 Enrolled: 9:1(F)
HB816 Act 845: 9:1(F)