This bill amends the Foreign-owned Real Estate National Security Act by introducing new definitions for key terms such as "foreign corporation," "foreign government," and "restricted entity," while also specifying what constitutes "covered real estate." It requires purchasers of covered real estate to complete an affidavit confirming they are not affiliated with foreign adversaries, placing the responsibility for this determination solely on the purchaser. The bill outlines civil and criminal liabilities for violations and clarifies that such violations do not invalidate property titles.

Furthermore, the bill enhances the investigation and enforcement mechanisms for violations of the act. It allows individuals to report potential violations, with the Department of Agriculture responsible for investigating these reports. The Attorney General is empowered to issue subpoenas and notify involved parties, providing them a grace period to divest interests in the real estate if a violation is suspected. The bill also redefines the parties subject to civil penalties, specifying that any person violating the act may face penalties of up to fifty thousand dollars per parcel. It removes the requirement for individuals to determine violations, placing that responsibility on the Attorney General, and ensures that the validity of the remaining sections of the act is maintained even if part of it is deemed invalid.

Statutes affected:
Introduced: 76-3702, 76-3703, 76-3704, 76-3708, 76-3709, 76-3710, 76-3712, 76-3715
Final Reading: 76-3702, 76-3703, 76-3704, 76-3708, 76-3709, 76-3710, 76-3712, 76-3715
Slip Law: 76-3702, 76-3703, 76-3704, 76-3708, 76-3709, 76-3710, 76-3712, 76-3715