The bill, H.B. No. 518, introduces new regulations regarding the ownership of agricultural land in Texas by nonresident aliens and foreign entities. It establishes Chapter 3 in the Agriculture Code, which defines "agricultural land," "foreign," and "nonresident alien." The bill explicitly prohibits nonresident aliens, foreign businesses, or foreign governments from purchasing or acquiring agricultural land in Texas. Additionally, it mandates that the Texas Department of Agriculture submit an annual report to state leaders detailing any agricultural land owned by these entities, which must also be made available on the department's website.

Furthermore, the bill amends Section 5.005 of the Property Code to clarify that, except as outlined in the new Chapter 3, aliens retain the same real and personal property rights as U.S. citizens. This legislation is set to take effect on September 1, 2025, aiming to restrict foreign ownership of agricultural land and enhance transparency regarding such ownership in the state.

Statutes affected:
Introduced: Property Code 5.005 (Property Code 5)