House Bill 1788 amends Tennessee law regarding the ownership of non-agricultural land by prohibited foreign-party-controlled businesses and prohibited foreign parties. The bill establishes that such entities are prohibited from acquiring interests in non-agricultural land and must divest any existing interests within two years of being found in violation. Additionally, violations of this provision are classified as a Class A misdemeanor, carrying penalties of fines or confinement.

The bill also mandates that any prohibited foreign-party-controlled business or party holding an interest in non-agricultural land after January 1, 2025, must register this interest with the secretary of state. The registration process requires detailed information about the entity, including its legal name, addresses, and the nationality of its controlling parties. Failure to register or comply with the provisions may result in civil penalties. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 66-2-305, 66-2-306