The bill establishes regulations prohibiting foreign ownership of real property within ten miles of critical infrastructure and military installations in Wyoming. It defines key terms such as "critical infrastructure," "military installation," and "prohibited foreign party," and outlines the responsibilities of the Wyoming Office of Homeland Security and county assessors in enforcing these regulations. Prohibited foreign parties are required to divest any real property interests acquired in violation of this law within eight months of receiving notice. The bill also mandates that these parties register their property ownership with the Secretary of State starting July 1, 2024, and imposes penalties for non-compliance.

Additionally, the bill amends existing laws to enhance the duties of the Wyoming Office of Homeland Security, including the investigation and enforcement of the prohibition on foreign ownership of real property. It requires the inclusion of notices regarding foreign ownership prohibitions in assessment schedules and tax statements. The bill authorizes the hiring of up to two full-time positions within the Office of Homeland Security and allocates $300,000 from the general fund for this purpose. The act is set to take effect on July 1, 2024, with certain provisions becoming effective immediately upon the bill's passage.

Statutes affected:
Introduced: 19-13-105, 34-1-143, 39-13-103, 39-13-107