HB 2961
To amend the law concerning ownership and possession of real property
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to prevent foreign adversaries from owning or possessing real property within West Virginia. It defines key terms like "prohibited foreign party" and establishes criteria for identifying entities considered adversaries, including those linked to countries like China, Russia, and Iran. The bill requires businesses controlled by these entities to divest of any West Virginia property they currently own and imposes penalties for non-compliance. It also outlines a process for the state to seize and sell properties held in violation of the law.
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