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 and foreign entities. The bill introduces a new Subchapter H in the Property Code, which defines terms such as "agricultural land" and "designated country," and outlines the conditions under which foreign individuals or entities may be prohibited from acquiring real property. Specifically, it prohibits entities from designated countries from purchasing 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 Texas Attorney General to enforce these regulations and conduct investigations into potential violations. If a court finds that property was acquired in violation of the new provisions, it may appoint a receiver to manage the property until it is sold or otherwise disposed of. The changes in law will apply only to transactions occurring on or after the effective date of the Act, which is set for September 1, 2025.

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