The Ohio Property Protection Act amends sections 319.202, 5301.256, and 5323.02 of the Revised Code to strengthen regulations on the acquisition of certain real properties by governments, businesses, and individuals. Key provisions require grantees to submit a statement declaring the property's value and affirmations regarding tax eligibility and restrictions on acquiring "protected property," which includes agricultural land and properties near military installations or critical infrastructure. The bill also imposes restrictions on foreign adversaries and their affiliates from acquiring protected property, with exceptions for inheritance and legal debt collection processes. Compliance with these regulations is enforced by county auditors, who will oversee the submission of required documents.

Furthermore, the bill emphasizes the protection of agricultural land from foreign adversaries, mandating that such land acquired by certain entities must be used solely for agricultural purposes while pending divestment. It establishes a registry of foreign adversaries and other entities posing risks to agricultural production and critical infrastructure, which will be updated biannually. The bill outlines a two-year divestment requirement for individuals or entities added to the registry and details enforcement mechanisms, including investigations by county auditors and sheriffs, as well as legal actions initiated by county prosecutors for violations. Overall, the Ohio Property Protection Act aims to safeguard the state's agricultural resources and ensure proper oversight in property transactions.

Statutes affected:
As Introduced: 319.202, 5301.256, 5323.02