The bill amends RCW 64.16.005 to establish new restrictions on land ownership for nonresident aliens and foreign entities, particularly those associated with the government of the People's Republic of China. It specifies that, starting August 1, 2025, these entities will be prohibited from acquiring any interest in agricultural, forest, or mineral land. 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 foreign entities.

However, the bill includes exceptions to these restrictions. It allows for land acquisition through inheritance, security for debts, or legal processes, provided that any land acquired in this manner must be disposed of within three years. Furthermore, it exempts citizens of foreign countries whose land rights are protected by treaty and clarifies that the prohibition does not apply to agricultural land linked to food processing facilities.

Statutes affected:
Original Bill: 64.16.005