The bill amends the Foreign-owned Real Estate National Security Act to enhance national security measures regarding foreign ownership of real estate in Nebraska. Key updates include new definitions for terms such as "foreign corporation," "foreign government," and "restricted entity," as well as a clear definition of "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 also establishes civil and criminal penalties for violations, while clarifying that such violations do not invalidate property titles.

Furthermore, the legislation empowers the Department of Agriculture to investigate potential violations and allows the Attorney General to issue subpoenas and enforce compliance. It specifies that any person violating the act, rather than just restricted entities, will face civil penalties of up to fifty thousand dollars per parcel. The bill also streamlines the process for legal action against violators and clarifies the court's authority to declare real estate divested if acquired in violation of the act. It removes the requirement for individuals to assess compliance, placing that responsibility on designated officials, and ensures the validity of remaining sections if any part of the act 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