The bill amends RCW 64.16.005 to establish new restrictions on land ownership for nonresident aliens and entities associated with the government of the People's Republic of China. Specifically, it prohibits these parties from acquiring any interest in agricultural, forest, or mineral land in Washington state starting August 1, 2025. Additionally, it restricts corporations and other business entities from obtaining such interests if more than 20 percent of their stock or beneficial interest is held by the aforementioned nonresident aliens or entities.

However, the bill includes exceptions to these restrictions. It allows for land acquisition through inheritance, as security for debts, or through legal processes for debt collection, provided that any land acquired in this manner must be disposed of within three years. Furthermore, the restrictions do not apply to citizens of foreign countries whose land rights are protected by treaty, nor do they affect agricultural land associated with food processing facilities.

Statutes affected:
Original Bill: 64.16.005