Senate Judiciary Committee Amendment
S 576 - Session 125 (2023-2024)
Alien Ownership of Real Property

The Committee on Judiciary proposes the following amendment (SJ-576.PB0009S):

Amend the bill, as and if amended, SECTION 1, by striking Section 27-13-30(A)(1), (2), (3), and (4) and inserting:

(1) "Alien" means a person who is not a citizen of the United States.

(2) "Corporation controlled by a foreign adversary" means a legal entity engaged in commerce that:

(a) is wholly owned by a foreign adversary;

(b) has a foreign adversary as a dominant shareholder, directly or indirectly;

(c) is wholly owned by a citizen of a foreign adversary; or

(d) has one or a number of citizens of a foreign adversary whose cumulative ownership is as a dominant shareholder.

(3) "Foreign adversary" means any foreign government or nongovernment person determined by the United States Secretary of Commerce to have engaged in a long-term pattern or serious instances of conduct significantly adverse to the national security of the United States or the security and safety of United States citizens.

(4) "Dominant shareholder" means the single owner of ten percent or more of a legal entity engaged in commerce's stock, securities, or other indicia of ownership; or multiple owners of twenty percent or more of a legal entity engaged in commerce's stock, securities, or other indicia of ownership.

(5) "Interest" means any estate, remainder, or reversion, or portion of the estate, remainder, or reversion, or an option pursuant to which one party has a right to acquire, receive, access, enjoy, or control legal or equitable title to real property.

Amend the bill further, SECTION 1, by striking Section 27-13-30(B) and (C) and inserting:

(B) Subject to the provisions contained in subsection (C), no alien or corporation controlled by aliens, either in his or its own right or as trustee, cestui que trust or agent, shall own or control within the limits of this State more than five hundred thousand acres of land. Nothing in this subsection shall apply to lands owned or controlled by any such person or corporation nor to lands mortgaged to such a person or corporation on March 9, 1896, nor shall this section apply to lands conveyed by an alien to a corporation controlled by such alien.

(C) No corporation controlled by a foreign adversary may acquire any interest in real property within the limits of this State.

(D) The provisions of subsection (C) do not apply to a citizen of a foreign adversary who:

(1) also is a citizen of the United States; or

(2) resides in the United States, and

(a) possesses a valid green card as a lawful permanent resident, and

(b) acquires no more than:

(i) five acres for residential or recreational use, or

(ii) five tax parcel properties that do not exceed in the cumulative twenty-five acres for commercial use as a landlord or property manager.