Bill Summary – FastDemocracy

   
      88(4) SB 38 - Introduced version - Bill Text
      
            88S40148 DRS-F
         
		By:  Kolkhorst
            S.B.  No.  38
         
               A BILL TO BE ENTITLED
            
               AN ACT
            
            relating to the purchase of or acquisition of title to real property 
         
            by certain aliens or foreign entities.
         
                          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         
                          SECTION  1.    Section 64.001(a), Civil Practice and Remedies 
         
            Code, is amended to read as follows:
         
                          (a)    A court of competent jurisdiction may appoint a 
         
            receiver:
         
                                      (1)    in an action by a vendor to vacate a fraudulent 
         
            purchase of property;
         
                                      (2)    in an action by a creditor to subject any property 
         
            or fund to the creditor's [his] claim;
         
                                      (3)    in an action between partners or others jointly 
         
            owning or interested in any property or fund;
         
                                      (4)    in an action by a mortgagee for the foreclosure of 
         
            the mortgage and sale of the mortgaged property;
         
                                      (5)    for a corporation that is insolvent, is in 
         
            imminent danger of insolvency, has been dissolved, or has forfeited 
         
            its corporate rights; [or]
         
                                      (6)    in an action by the attorney general under 
         
            Subchapter H, Chapter 5, Property Code; or    
         
                                      (7)    in any other case in which a receiver may be 
         
            appointed under the rules of equity.
         
                          SECTION  2.    Section 5.005, Property Code, is amended to read 
         
            as follows:
         
                          Sec.  5.005.    ALIENS.   Except as provided by Subchapter H, an
         
            [An] alien has the same real and personal property rights as a 
         
            United States citizen.
         
                          SECTION  3.    Chapter 5, Property Code, is amended by adding 
         
            Subchapter H to read as follows:
         
            SUBCHAPTER H. PURCHASE OF OR ACQUISITION OF TITLE TO REAL PROPERTY 
         
            BY CERTAIN FOREIGN INDIVIDUALS OR ENTITIES
         
                          Sec.  5.251.    DEFINITIONS.  In this subchapter:
         
                                      (1)    "Agricultural land" means land that is located in 
         
            this state and that is suitable for:
         
                                                  (A)    use in production of plants and fruits grown 
         
            for human or animal consumption, or plants grown for the production 
         
            of fibers, floriculture, viticulture, horticulture, or planting 
         
            seed; or
         
                                                  (B)    domestic or native farm or ranch animals kept 
         
            for use or profit.
         
                                      (2)    "Control" means ownership of at least 50 percent 
         
            of the voting ownership interest of an organization necessary to 
         
            elect a governing person or governing authority of an organization.
         
                                      (3)    "Designated country" means a country identified by 
         
            the United States Director of National Intelligence as a country 
         
            that poses a risk to the national security of the United States in 
         
            each of the three most recent Annual Threat Assessments of the U.S. 
         
            Intelligence Community issued pursuant to Section 108B, National 
         
            Security Act of 1947 (50 U.S.C. Section 3043b).
         
                                      (4)    "Governing authority," "governing person," and 
         
            "organization" have the meanings assigned by Section 1.002, 
         
            Business Organizations Code.
         
                                      (5)    "Real property" means:
         
                                                  (A)    agricultural land;
         
                                                  (B)    an improvement located on agricultural land;
         
                                                  (C)    a mine or quarry;
         
                                                  (D)    a mineral in place; or
         
                                                  (E)    standing timber.
         
                          Sec.  5.252.    EXCEPTIONS: UNITED STATES CITIZENS AND LAWFUL 
         
            PERMANENT RESIDENTS; RESIDENCE HOMESTEAD PROPERTY; LEASEHOLD.  (a)  
         
            This subchapter does not apply to:
         
                                      (1)    an individual who is a citizen or lawful permanent 
         
            resident of the United States, including an individual who is a 
         
Statutes affected: 
Introduced: Civil Practice and Remedies Code 64.001, Property Code 5.005 (Civil Practice and Remedies Code 64, Property Code 5)



	A BILL TO BE ENTITLED
	AN ACT
	relating to the purchase of or acquisition of title to real property
	by certain aliens or foreign entities.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 64.001(a), Civil Practice and Remedies
	Code, is amended to read as follows:
	(a) A court of competent jurisdiction may appoint a
	receiver:
	(1) in an action by a vendor to vacate a fraudulent
	purchase of property;
	(2) in an action by a creditor to subject any property
	or fund to the creditor's [~~his~~] claim;
	(3) in an action between partners or others jointly
	owning or interested in any property or fund;
	(4) in an action by a mortgagee for the foreclosure of
	the mortgage and sale of the mortgaged property;
	(5) for a corporation that is insolvent, is in
	imminent danger of insolvency, has been dissolved, or has forfeited
	its corporate rights; [or]
	(6) in an action by the attorney general under
	Subchapter H, Chapter 5, Property Code; or
	(7) in any other case in which a receiver may be
	appointed under the rules of equity.
	SECTION 2. Section 5.005, Property Code, is amended to read
	as follows:
	Sec. 5.005. ALIENS. Except as provided by Subchapter H, an
	[An] alien has the same real and personal property rights as a
	United States citizen.
	SECTION 3. Chapter 5, Property Code, is amended by adding
	Subchapter H to read as follows:
	SUBCHAPTER H. PURCHASE OF OR ACQUISITION OF TITLE TO REAL PROPERTY
	BY CERTAIN FOREIGN INDIVIDUALS OR ENTITIES
	Sec. 5.251. DEFINITIONS. In this subchapter:
	(1) "Agricultural land" means land that is located in
	this state and that is suitable for:
	(A) use in production of plants and fruits grown
	for human or animal consumption, or plants grown for the production
	of fibers, floriculture, viticulture, horticulture, or planting
	seed; or
	(B) domestic or native farm or ranch animals kept
	for use or profit.
	(2) "Control" means ownership of at least 50 percent
	of the voting ownership interest of an organization necessary to
	elect a governing person or governing authority of an organization.
	(3) "Designated country" means a country identified by
	the United States Director of National Intelligence as a country
	that poses a risk to the national security of the United States in
	each of the three most recent Annual Threat Assessments of the U.S.
	Intelligence Community issued pursuant to Section 108B, National
	Security Act of 1947 (50 U.S.C. Section 3043b).
	(4) "Governing authority," "governing person," and
	"organization" have the meanings assigned by Section 1.002,
	Business Organizations Code.
	(5) "Real property" means:
	(A) agricultural land;
	(B) an improvement located on agricultural land;
	(C) a mine or quarry;
	(D) a mineral in place; or
	(E) standing timber.
	Sec. 5.252. EXCEPTIONS: UNITED STATES CITIZENS AND LAWFUL
	PERMANENT RESIDENTS; RESIDENCE HOMESTEAD PROPERTY; LEASEHOLD. (a)
	This subchapter does not apply to:
	(1) an individual who is a citizen or lawful permanent
	resident of the United States, including an individual who is a
Statutes affected: Introduced: Civil Practice and Remedies Code 64.001, Property Code 5.005 (Civil Practice and Remedies Code 64, Property Code 5)