SB 19
Relating to purchase or acquisition of real property by foreign entities
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill restricts the ability of foreign entities and individuals, particularly those from designated countries like China, Russia, Iran, and North Korea, to purchase real property in West Virginia. It requires these entities to disclose land ownership within 60 days and mandates the sale of any land owned by them within 180 days. Certain exceptions apply, including U.S. citizens, residences, and short-term leasehold interests.
Key provisions
- Requires foreign entities and individuals to disclose land ownership to the Department of Agriculture.
- Prohibits governmental entities and entities controlled by designated countries from purchasing real property in West Virginia.
- Sets a 180-day deadline for foreign entities to sell land owned in West Virginia.
- Defines ‘alien’ and ‘foreign entity’ for the purposes of the law.
- Lists ‘designated countries’ posing a national security risk.
- Authorizes the Attorney General to investigate and enforce violations.
- Grants the Attorney General authority to seek injunctive relief and property receivership.
- Allows the Attorney General to create rules to implement the law.
Who is affected
- Foreign entities (corporations, companies, etc.)
- Individuals from designated countries
- Governmental entities from designated countries
- Real estate developers
- Potential foreign investors
Notable changes
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