S.B. No. 17 is a legislative bill that amends the Civil Practice and Remedies Code and the Property Code in Texas, specifically addressing the purchase or acquisition of real property by certain foreign individuals and entities. The bill introduces a new subchapter (Subchapter H) that defines terms related to real property and establishes restrictions on property acquisitions by individuals or organizations from designated countries, which are identified as posing a national security risk. Notably, the bill specifies that governmental entities and organizations headquartered in or controlled by individuals from these designated countries are prohibited from acquiring real property in Texas.

Additionally, the bill modifies existing legal language to clarify that aliens have the same property rights as U.S. citizens, except as specified in the new subchapter. It also outlines the enforcement powers of the attorney general, including the ability to investigate and take legal action against violations of these restrictions. The bill stipulates that any real property acquired in violation of these provisions is not void but allows for the appointment of a receiver to manage the property until it is sold or disposed of. The changes will 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)
Senate Committee Report: Civil Practice and Remedies Code 64.001, Property Code 5.005 (Civil Practice and Remedies Code 64, Property Code 5)
Engrossed: Civil Practice and Remedies Code 64.001, Property Code 5.005 (Civil Practice and Remedies Code 64, Property Code 5)