| 1 | 1 | | 87S10021 NC-D |
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| 2 | 2 | | By: Slaton H.B. No. 303 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the acquisition and management of real property |
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| 8 | 8 | | interests by certain Chinese entities. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 5.005, Property Code, is amended to read |
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| 11 | 11 | | as follows: |
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| 12 | 12 | | Sec. 5.005. ALIENS AND CERTAIN CHINESE ENTITIES. (a) |
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| 13 | 13 | | Except as provided by Subsection (b), an [An] alien has the same |
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| 14 | 14 | | real and personal property rights as a United States citizen. |
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| 15 | 15 | | (b) Notwithstanding any other law, the Chinese Communist |
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| 16 | 16 | | Party, the government of the People's Republic of China, an |
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| 17 | 17 | | individual member of the Chinese Communist Party or the government |
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| 18 | 18 | | of the People's Republic of China, or a company owned, in full or in |
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| 19 | 19 | | part, by the Chinese Communist Party or the government of the |
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| 20 | 20 | | People's Republic of China may not acquire, by purchase, lease, |
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| 21 | 21 | | donation, or other means, or manage real property interests in this |
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| 22 | 22 | | state. |
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| 23 | 23 | | SECTION 2. The change in law made by this Act applies only |
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| 24 | 24 | | to a contract to acquire or manage a property interest entered into |
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| 25 | 25 | | or renewed on or after the effective date of this Act or a |
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| 26 | 26 | | noncontractual transfer of a property interest that occurs on or |
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| 27 | 27 | | after the effective date of this Act. |
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| 28 | 28 | | SECTION 3. This Act takes effect on the 91st day after the |
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| 29 | 29 | | last day of the legislative session. |
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