Bill Summary – FastDemocracy

   
      87(1) HB 303 - Introduced version - Bill Text
      
            87S10021 NC-D
         
		By:  Slaton
            H.B.  No.  303
         
               A BILL TO BE ENTITLED
            
               AN ACT
            
            relating to the acquisition and management of real property 
         
            interests by certain Chinese entities.
         
                          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         
                          SECTION  1.    Section 5.005, Property Code, is amended to read 
         
            as follows:
         
                          Sec.  5.005.    ALIENS AND CERTAIN CHINESE ENTITIES.  (a)  
         
            Except as provided by Subsection (b), an [An] alien has the same 
         
            real and personal property rights as a United States citizen.
         
                          (b)    Notwithstanding any other law, the Chinese Communist 
         
            Party, the government of the People's Republic of China, an 
         
            individual member of the Chinese Communist Party or the government 
         
            of the People's Republic of China, or a company owned, in full or in 
         
            part, by the Chinese Communist Party or the government of the 
         
            People's Republic of China may not acquire, by purchase, lease, 
         
            donation, or other means, or manage real property interests in this 
         
            state.
         
                          SECTION  2.    The change in law made by this Act applies only 
         
            to a contract to acquire or manage a property interest entered into 
         
            or renewed on or after the effective date of this Act or a 
         
            noncontractual transfer of a property interest that occurs on or 
         
            after the effective date of this Act.
         
                          SECTION  3.    This Act takes effect on the 91st day after the 
         
            last day of the legislative session.
         
Statutes affected: 
Introduced: 5.005 Property Code



	A BILL TO BE ENTITLED
	AN ACT
	relating to the acquisition and management of real property
	interests by certain Chinese entities.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 5.005, Property Code, is amended to read
	as follows:
	Sec. 5.005. ALIENS AND CERTAIN CHINESE ENTITIES. (a)
	Except as provided by Subsection (b), an [An] alien has the same
	real and personal property rights as a United States citizen.
	(b) Notwithstanding any other law, the Chinese Communist
	Party, the government of the People's Republic of China, an
	individual member of the Chinese Communist Party or the government
	of the People's Republic of China, or a company owned, in full or in
	part, by the Chinese Communist Party or the government of the
	People's Republic of China may not acquire, by purchase, lease,
	donation, or other means, or manage real property interests in this
	state.
	SECTION 2. The change in law made by this Act applies only
	to a contract to acquire or manage a property interest entered into
	or renewed on or after the effective date of this Act or a
	noncontractual transfer of a property interest that occurs on or
	after the effective date of this Act.
	SECTION 3. This Act takes effect on the 91st day after the
	last day of the legislative session.