This bill aims to regulate foreign ownership of property in North Dakota by creating new sections in the North Dakota Century Code and amending existing ones. It prohibits development agreements and property ownership by foreign countries or organizations deemed a "foreign country of concern" or "foreign organization of concern." The bill also establishes a certification process for foreign grantees to confirm their eligibility to own property, requiring them to file a statement with the county recorder and the secretary of state. Additionally, it introduces penalties for willful violations of these regulations, including civil penalties for failing to report required information.

Key amendments include the redefinition of terms related to foreign ownership, the introduction of a certification requirement for deeds, and the establishment of a process for the attorney general to review and prosecute violations. The bill repeals a previous section related to foreign investment in agricultural lands and mandates annual reporting to the legislative management regarding foreign ownership. Overall, the legislation seeks to enhance oversight of foreign investments in North Dakota, ensuring compliance with national security standards and protecting local interests.

Statutes affected:
PREFILED: 11-11-70, 40-05-26, 47-01-09, 47-10.1-05
INTRODUCED: 11-11-70, 40-05-26, 47-01-09, 47-10.1-05