House committee substitute to the 3rd edition makes the following changes.
Makes changes throughout to refer to a "prohibited foreign party" instead of "adversarial foreign government." Amends the definitions in GS 64-62 as follows. Defines adversarial foreign government as a state-controlled enterprise or the government of a country or group subject to International Traffic in Arms Regulations in 22 CFR Part 126. Expands upon the definition of de minimis direct interest to also include ownership of land resulting from any passive ownership interest of a prohibited foreign party in an entity, provided that the prohibited foreign party does not possess, by virtue of that ownership interest or otherwise, the power to direct or cause the direction of the management or policies of the entity with respect to the interest in real property. Also expands upon the definition of foreign government to include federal or state recognized tribal governments. Amends the definition of military installations by removing Camp Butner and adding North Carolina National Guard facilities; adds the requirement that the North Carolina Real Estate Commission coordinate with the Department of Military and Veterans Affairs in developing, publishing, and maintaining a map with the bases and lines drawn for the applicable mileage from the military boundaries for public use. Amends the definition of party by no longer including individuals. Amends the definition of prohibited foreign party to include: (1) an adversarial foreign government or a foreign government formed within an adversarial foreign government (was, a foreign government formed within an adversarial nation), (2) a party other than an individual or a government created or organized under the laws of any state and a significant interest or substantial control is held or is capable of being exercised by an individual who is a citizen or resident of an adversarial nation (was, citizen or resident of an adversarial nation without regard to interest or control), (3) refers to entities or trusts instead of parties. Amends the definition of significant interest or substantial control by removing interests held by an individual. Removes the terms residence and resident alien.
Amends GS 64-63 as follows. Specifies that a prohibited foreign party must not hold any direct interest (was, interest) in the agricultural land or property situated within the specified area of a military installation. Expands upon the area within which a prohibited foreign party must not purchase, acquire, lease, or hold any direct interest in property situated around a military installation so that it is not within a 50-mile radius (was, 25-mile radius) of a military installation. Removes provisions related to resident aliens. Allows a prohibited foreign party that has acquired any direct interest in the described land before the country of residence was added to 22 CFR Part 126, to continue to own or hold that interest, but prohibits it from acquiring by grant, purchase, devise, descent, or otherwise, any additional interest in that land and requires registration with the Secretary of State. No longer requires prohibited foreign parties that have acquired the land to register with the Attorney General, only the Secretary of State. Instead of requiring a database, now requires the Secretary of State’s Office to produce monthly reports on the registered prohibited foreign parties. Amends the content of the registration form. Requires the Secretary of State to provide the registry to the Attorney General one year from the act becoming law and then every six months thereafter. Changes the due date of the affidavit that a purchaser of the specified land is not a prohibited foreign party from at the time of purchase to no later than the time of closing. Provides that no individual, real estate broker, or any other entity, other than a prohibited foreign party, will bear any civil or criminal liability for failing to obtain, maintain, or otherwise comply with the affidavit (was, failure to obtain or maintain the affidavit does not result in civil or criminal liability to any person or entity, unless the person or entity is in violation of (k), or subject any nonparty to the purchase to civil or criminal liability, unless a nonparty to the purchase has actual knowledge that the transaction will result in a violation of this statute).
Makes additional conforming and technical changes.
Makes conforming changes to GS 161-14.04 and GS 1-507.24.
Changes the effective date from December 1, 2025, to December 1, 2026.
Adds, effective when the act becomes law, that the North Carolina Real Estate Commission, in coordination with the Department of Military and Veterans Affairs, must develop and publish the map described in GS 64-62(6) by December 1, 2026, and must maintain the map by publishing an updated version annually each December 1st thereafter.

Statutes affected:
Edition 3: 1-507.24
Edition 4: 1-507.24