Kansas 2023-2024 Regular Session

Kansas House Bill HB2766

Introduced
2/8/24  
Refer
2/8/24  

Caption

Creating the Kansas land and military installation protection act to prohibit foreign principals from countries of concern from holding any interest in certain real property in this state.

Impact

This legislation is set to amend existing state laws regarding real estate transactions and foreign investments, imposing new requirements for registration and divestiture of property interests. Foreign principals must register their ownership with the Kansas Attorney General and are required to divest their interests within specified timeframes to comply with the bill. This approach reflects an intensified focus on state security and the protection of military facilities from potential foreign threats.

Summary

House Bill 2766, titled the Kansas Land and Military Installation Protection Act, aims to limit foreign ownership of real property situated near military installations in Kansas. The bill outlines a framework that prohibits 'foreign principals' from countries deemed of concern—specifically China, Cuba, Iran, North Korea, Russia, and Venezuela—from acquiring interests in real estate within a 150-mile radius of any military installation in the state. Additionally, the act also restricts these foreign entities from benefiting from any economic development programs in Kansas.

Contention

A notable point of contention surrounding HB 2766 involves concerns over national security versus the implications for foreign investment in Kansas. Proponents of the bill argue that limiting foreign ownership of property around military sites is crucial for safeguarding national interests. However, critics fear that the broad definitions of 'foreign principals' and 'countries of concern' could deter legitimate investment and economic opportunities in the state, potentially negatively affecting local economies. The potential consequences of these restrictions reflect deeper discussions on balancing economic development with security needs.

Companion Bills

No companion bills found.

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