This bill aims to prohibit certain foreign governments and individuals from acquiring or holding interests in protected land located within 10 miles of military facilities in New Jersey. Specifically, it defines "foreign government" and "foreign person" as entities subject to U.S. sanctions or individuals who are not U.S. citizens or legal residents. The bill establishes that no foreign government or foreign person can obtain legal or beneficial interests in protected land after its effective date, with limited exceptions for those who already own such land, allowing them to retain ownership for a maximum of five years.

The bill outlines specific conditions under which foreign entities may acquire protected land, such as through legal processes related to debt collection or foreclosure, but mandates that any such land must be sold to non-foreign entities within two years of acquisition. Additionally, it clarifies that the bill's provisions do not apply to land acquired through inheritance or legitimate encumbrances. Importantly, any conflicting provisions with existing treaties between the U.S. and other countries are exempt from the bill's restrictions.