foreign entities; land; legislative approval
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill establishes a review commission within the Arizona State Real Estate Department to oversee the sale, lease, and sublease of state land to foreign entities. It requires a review and approval process for transactions involving potentially ‘hostile’ foreign entities, defined as those listed as threats by national security agencies. Violations of the law can result in significant civil penalties, including fines based on the property’s value, and potential felony charges if the transaction involves proximity to military installations or foreign government influence.
Key provisions
- Establishes a Foreign Entity Review Commission within the State Real Estate Department.
- Requires review and approval by the commission for sales, leases, and subleases of state land to foreign entities.
- Defines ‘hostile’ foreign entities based on national security threat assessments.
- Imposes civil penalties for violations, up to $250,000 or 50% of property value.
- Increases penalties to felony charges for violations near military installations or involving foreign government influence.
- Requires identification of grantees, including verification of foreign entity agents.
- Specifies the composition and terms of service for the commission members.
- Prohibits the sale of state land containing valuable minerals if adjacent to producing wells.
Who is affected
- Foreign governments and state-controlled enterprises
Bill text
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Sponsors
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Primary sponsor
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