The proposed bill, known as the "Mineral Rights Protection Act," aims to prohibit certain foreign entities from owning mineral rights in the state of Michigan. It defines "disqualified persons" as foreign entities of concern, entities controlled by such foreign entities, and citizens of countries classified as foreign entities of concern. The bill specifies that these disqualified entities are not permitted to acquire mineral rights, which encompass ownership related to the extraction of subsurface resources like oil, gas, coal, and other minerals.

Violations of this act would result in significant penalties, including a misdemeanor charge with fines up to $1,000,000. Additionally, any mineral rights obtained in violation of the act would be subject to seizure and forfeiture. The enforcement of this legislation would be under the jurisdiction of the attorney general, and the act is set to take effect 90 days after being enacted, contingent upon the passage of House Bill No. 4274.