Senate Amendment 5
S 576 - Session 125 (2023-2024)
Alien Ownership of Real Property

Senator Massey proposes the following amendment (SJ-576.PB0035S):

Amend the bill, as and if amended, SECTION 1, by striking Section 27-13-30(C) and (D) and inserting:

(C) A citizen of a foreign adversary or a corporation controlled by a foreign adversary may not acquire any interest in real property within the limits of this State. The provisions of this subsection do not apply to businesses and industries operating within the limits of the State on December 31, 2022, if the land or real property is acquired for expansion purposes and the expansion is approved by the Secretary of Commerce and the Governor.

(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.