House Bill No. 2536 aims to regulate the purchase or acquisition of title to real property by certain foreign individuals and entities, particularly those from designated countries such as China, Iran, North Korea, and Russia. The bill amends existing laws to clarify that aliens have the same property rights as U.S. citizens, except as specified in the new Subchapter H. This subchapter introduces definitions and exceptions, stating that individuals who are citizens or lawful permanent residents of the U.S., as well as certain companies owned by them, are exempt from these restrictions. It also prohibits governmental entities and companies from designated countries from acquiring real property in Texas.

The bill establishes enforcement mechanisms, allowing the attorney general to investigate potential violations and take legal action against individuals or entities that unlawfully acquire property. If a violation is found, the court can divest the offending party's interest in the property and appoint a receiver to manage it. Additionally, penalties for violations include state jail felony charges for individuals and significant fines for companies, based on the market value of the property involved. The law is set to take effect on September 1, 2025, and will only apply to transactions occurring after that date.

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