This bill amends the existing law regarding real estate ownership by foreign principals in Michigan, specifically prohibiting them from owning or acquiring any interest in real property located within 20 miles of military installations or key facilities. Exceptions are made for acquisitions for diplomatic purposes recognized by the U.S. government and for entities with national security agreements that may acquire up to 350 acres of agricultural land for research and development. Additionally, foreign principals who already own property in these areas must register with the Secretary of State by July 1, 2025, or face civil penalties.

The bill also establishes requirements for buyers of real property within the specified proximity to file an affidavit confirming they are not foreign principals. It outlines the consequences for violations, including potential misdemeanor charges and civil infractions, and specifies that any property acquired in violation of this law may be subject to forfeiture. The definitions of "foreign principal," "military installation," and "key facility" are provided to clarify the scope of the law. Overall, the bill aims to enhance national security by restricting foreign ownership of land near sensitive military sites.

Statutes affected:
Substitute (H-1): 554.131, 554.139
Substitute (H-3): 554.131, 554.139
House Introduced Bill: 554.135, 554.136
As Passed by the House: 554.131, 554.139