This bill proposes the addition of a new section, 37-1-5a, to the Code of West Virginia, which regulates the purchase or acquisition of real property by certain aliens and foreign entities. It defines key terms such as "alien," "foreign entity," and "designated country," the latter referring to nations identified by the West Virginia Secretary of State as posing a significant risk to national security, including China, Russia, Iran, and North Korea. The bill prohibits individuals and entities from designated countries from acquiring real property in West Virginia, with a requirement for those already owning such property to sell it within 180 days unless they fall under specified exceptions, such as being a U.S. citizen or lawful permanent resident.

The bill also grants the Attorney General the authority to enforce these regulations, investigate violations, and seek legal remedies, including injunctive relief and property management through receivership. Additionally, it allows for the promulgation of rules necessary for implementation and includes a severability clause to ensure that if any part of the section is deemed invalid, the remaining provisions will still be enforceable.

Statutes affected:
Introduced Version: 37-1-5a