House Bill 1788 amends Tennessee Code Annotated to impose restrictions on foreign entities acquiring non-agricultural land in the state. The bill prohibits "prohibited foreign-party-controlled businesses" or "prohibited foreign parties" from acquiring interests in such land and mandates that any existing interests must be divested within two years if found in violation. Additionally, it establishes that violations of these provisions are classified as Class A misdemeanors, carrying penalties of fines or confinement.

The bill also requires that any prohibited foreign entities holding interests in non-agricultural land after January 1, 2025, must register their interests with the secretary of state. This registration must include detailed information about the entity, its agents, and any related parties, as well as a description of the purpose for holding the land. Failure to register or comply with these requirements 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