The bill establishes restrictions on foreign ownership of land and interests in Wyoming, defining key terms such as "foreign business," "foreign government," and "foreign person." It prohibits foreign entities from acquiring land in Wyoming, with the exception of personal residences on one acre or less. Existing foreign owners must divest their interests by July 1, 2026, unless they meet the personal residence criteria. Additionally, foreign entities must register their ownership with the Secretary of State, providing details about the land and ownership structure, and update this registration annually. Failure to comply will result in a civil penalty of $5,000 per day.

The bill also mandates that assessment schedules and tax statements include notices about the prohibition of foreign ownership and the registration requirements. This aims to ensure transparency and compliance with the new regulations. The Secretary of State is tasked with rulemaking to implement the bill, and the Attorney General is authorized to enforce the provisions, including initiating court actions to forfeit non-compliant land interests to the state. The act is effective immediately upon its passage.

Statutes affected:
Introduced: 39-13-103, 39-13-107