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A BILL TO BE ENTITLED
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AN ACT
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relating to the purchase of or acquisition of title to real property |
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by certain aliens or foreign entities; creating a criminal offense. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 5.005, Property Code, is amended to read |
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as follows: |
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Sec. 5.005. ALIENS. Except as provided by Subchapter H, an |
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[An] alien has the same real and personal property rights as a |
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United States citizen. |
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SECTION 2. Chapter 5, Property Code, is amended by adding |
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Subchapter H to read as follows: |
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SUBCHAPTER H. PURCHASE OF OR ACQUISITION OF TITLE TO REAL PROPERTY |
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BY CERTAIN FOREIGN INDIVIDUALS OR ENTITIES |
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Sec. 5.251. DEFINITIONS. In this subchapter: |
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(1) "Company" means a sole proprietorship, |
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organization, association, corporation, partnership, joint |
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venture, limited partnership, limited liability partnership, or |
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limited liability company, including a wholly owned subsidiary, |
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majority-owned subsidiary, parent company, or affiliate of those |
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entities or business associations, that exists to make a profit. |
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(2) "Designated country" means a country designated by |
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the governor under Section 5.253. |
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Sec. 5.252. PROHIBITION ON PURCHASE OF OR ACQUISITION OF |
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TITLE TO REAL PROPERTY. Notwithstanding any other law, the |
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following may not purchase or otherwise acquire title to real |
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property in this state: |
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(1) a governmental entity of a designated country; |
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(2) a company or other entity that is: |
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(A) headquartered in a designated country; |
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(B) directly or indirectly held or controlled by |
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the government of a designated country; or |
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(C) owned by or the majority of stock or other |
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ownership interest of which is held or controlled by individuals |
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described by Subdivision (4); |
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(3) a company or other entity that is owned by or the |
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majority of stock or other ownership interest of which is held or |
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controlled by a company or entity described by Subdivision (2); or |
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(4) an individual citizen of a designated country who |
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is: |
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(A) a government official or officer of the |
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military forces of the country; |
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(B) a member of the governing body of or officer |
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of: |
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(i) a company or other entity described by |
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Subdivision (2); or |
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(ii) the governing political party of the |
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country; |
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(C) determined by a United States intelligence or |
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law enforcement agency to be closely tied to an individual or entity |
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described by this section; or |
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(D) related within the first degree by |
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consanguinity or affinity, as determined under Chapter 573, |
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Government Code, to an individual described by this section. |
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Sec. 5.253. DESIGNATION OF COUNTRY AS SUBJECT TO |
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PROHIBITION ON PURCHASE OF OR ACQUISITION OF TITLE TO REAL |
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PROPERTY. (a) The governor, after consultation with the public |
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safety director of the Department of Public Safety, may designate a |
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country of which a governmental entity, company or other entity, or |
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citizen shall be subject to this subchapter. |
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(b) The governor shall consult the Homeland Security |
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Council established under Subchapter B, Chapter 421, Government |
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Code, for purposes of making a designation under this section. |
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Sec. 5.254. INVESTIGATION BY COMPTROLLER; LAW ENFORCEMENT |
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REFERRAL. (a) The comptroller of public accounts shall establish |
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procedures to examine a transfer of real property and determine |
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whether an investigation of a possible violation of this subchapter |
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is warranted. |
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(b) If the comptroller determines that an investigation of a |
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transfer of real property is warranted under this section, the |
Statutes affected:
Introduced: Property Code 5.005 (Property Code 5)