The proposed bill prohibits county treasurers from selling tax deeds for residential properties to foreign entities. It introduces definitions for "foreign entity" and "domestic entity," clarifying that a foreign entity includes governments or political parties from outside the United States, as well as entities organized under foreign laws or with principal places of business in foreign countries. Conversely, a domestic entity is defined as one organized under U.S. federal or state law or under the laws of another jurisdiction subject to U.S. jurisdiction, provided it has its principal place of business within the United States.

Additionally, the bill amends existing sections of the Montana Code Annotated (MCA) to include a requirement that entities wishing to bid on property at auction must provide proof of their domestic entity status. This amendment aims to ensure that only domestic entities can participate in the bidding process for tax deeds, thereby restricting foreign ownership of residential properties acquired through tax sales. The bill is set to take effect on October 1, 2025.

Statutes affected:
LC Text: 15-17-121, 15-18-220
SB0306_1(1): 15-17-121, 15-18-220
SB0306_1(2): 15-17-121, 15-18-220
SB0306_1(3): 15-17-121, 15-18-220
SB0306_1(4): 15-17-121, 15-18-220
SB0306_1(5): 15-17-121, 15-18-220
SB0306_1: 15-17-121, 15-18-220
SB0306_2(1): 15-17-121, 15-18-220
SB0306_2(10): 15-17-121, 15-18-220
SB0306_2(11): 15-17-121, 15-18-220
SB0306_2(2): 15-17-121, 15-18-220
SB0306_2(3): 15-17-121, 15-18-220
SB0306_2(4): 15-17-121, 15-18-220
SB0306_2(5): 15-17-121, 15-18-220
SB0306_2(6): 15-17-121, 15-18-220
SB0306_2(7): 15-17-121, 15-18-220
SB0306_2(8): 15-17-121, 15-18-220
SB0306_2(9): 15-17-121, 15-18-220
SB0306_2: 15-17-121, 15-18-220
SB0306_X(1): 15-17-121, 15-18-220
SB0306_X(2): 15-17-121, 15-18-220
SB0306_X(3): 15-17-121, 15-18-220
SB0306_X(4): 15-17-121, 15-18-220
SB0306_X(5): 15-17-121, 15-18-220
SB0306_X(6): 15-17-121, 15-18-220
SB0306_X(7): 15-17-121, 15-18-220
SB0306_X: 15-17-121, 15-18-220