BILL NUMBER: S5651
SPONSOR: ASHBY
 
TITLE OF BILL:
An act to amend the real property law, in relation to prohibiting the
acquisition of real property by foreign countries and entities of
particular concern
 
PURPOSE OR GENERAL IDEA OF BILL:
To protect New York State and the United State of America's interests
from foreign governments, entities, and noncitizen individuals
 
SUMMARY OF PROVISIONS:
Prohibits foreign governments, entities, and noncitizen individuals that
are of particular concern, as identified by the United States Department
of State, from acquiring real property within the State of New York
 
JUSTIFICATION:
There are strategically important areas within New York State, such as
population centers, military bases, and government buildings, that
foreign countries, known to the US department of State as causing
particular concern, could target for the purposes of espionage or other
reasons. Allowing these governments to acquire real property within New
York State risks the wellbeing of not only the people of this state but
New York and the rest of America as well.
 
PRIOR LEGISLATIVE HISTORY:
2023-24: S.6522 - referred to judiciary
 
FISCAL IMPLICATIONS:
none
 
EFFECTIVE DATE:
Immediately