This bill aims to regulate foreign ownership of real property in North Dakota, particularly near military installations. It introduces a new section to the North Dakota Century Code that prohibits foreign countries or organizations of concern from leasing, purchasing, or acquiring critical infrastructure or real property within ten miles of military installations. Additionally, it mandates that any foreign entity in violation of this prohibition must divest its interest in such properties within one year of acquisition. If they fail to do so, the state's attorney can issue subpoenas and initiate legal action to enforce divestment.

The bill also amends existing sections of the North Dakota Century Code to clarify the definitions and prohibitions regarding foreign ownership. It replaces the term "foreign adversary" with "foreign country of concern or foreign organization of concern" and establishes criteria under which these entities may be exempt from the prohibitions if they meet specific conditions, such as being a duly registered business in good standing for at least seven years. Furthermore, it outlines penalties for non-compliance, including civil penalties of up to $25,000 for failing to divest property as required.

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