This bill amends several sections of the North Dakota Century Code to address the involvement of foreign countries and organizations in property ownership and development within the state. It prohibits boards of county and city commissioners from entering into development agreements with foreign countries or organizations of concern, as defined in the bill. The amendments clarify that these prohibitions apply to entities identified as foreign adversaries and establish criteria under which certain foreign organizations may still possess interests in real property if they meet specific conditions, such as being registered for at least seven years and having national security agreements with the federal government.

Additionally, the bill introduces new reporting requirements for foreign persons investing in agricultural lands, mandating that they file reports with the agriculture commissioner and providing for an annual report to the legislative management. It also establishes penalties for non-compliance, including civil penalties based on the fair market value of the ownership interest in agricultural land. The bill repeals an existing section related to these filings and includes a contingent effective date for the repeal, which will take effect upon certification that the Agricultural Foreign Investment Disclosure Act has been repealed.

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