The bill, S.B. No. 307, amends the Civil Practice and Remedies Code and the Property Code in Texas to regulate the purchase or acquisition of title to real property by certain aliens or foreign entities. It introduces a new subchapter (Subchapter H) that defines terms such as "agricultural land," "designated country," and outlines the conditions under which foreign individuals or organizations may be prohibited from acquiring real property. Specifically, it prohibits entities from designated countries from purchasing real property if such acquisition poses a risk to public health, safety, and welfare. The bill also clarifies that U.S. citizens and lawful permanent residents are exempt from these restrictions.

Additionally, the bill empowers the attorney general to enforce these regulations and conduct investigations if there is a reasonable suspicion of violations. It allows for the appointment of a receiver to manage properties acquired in violation of the new provisions. The changes will take effect on September 1, 2025, and will only apply to transactions occurring on or after that date, ensuring that prior acquisitions remain governed by existing law.

Statutes affected:
Introduced: Civil Practice and Remedies Code 64.001, Property Code 5.005 (Property Code 5, Civil Practice and Remedies Code 64)