Relating to the purchase or acquisition of an interest in real property by certain aliens or foreign entities; creating a criminal offense; providing a civil penalty.
If enacted, SB17 will fundamentally alter property rights in Texas by imposing new regulations on foreign investments. The bill outlines penalties for violations, which include criminal offenses classified as state jail felonies, alongside civil penalties imposed by the Attorney General. Notably, the law also identifies designated countries wherein individuals and corporations are prohibited from acquiring property, and introduces a mechanism for the government to investigate and enforce these new regulations effectively.
Senate Bill 17 (SB17) aims to restrict the purchase and acquisition of real property in Texas by certain foreign individuals and entities identified as a risk to national security. The bill formulates specific prohibitions, targeting individuals and organizations affiliated with designated countries, predominantly China, Russia, Iran, and North Korea, as outlined in the 2025 Annual Threat Assessment from the U.S. Intelligence Community. Such restrictions intend to mitigate threats posed by foreign entities possessing interests in critical lands and properties within the state.
The overall sentiment around SB17 reflects a strong bipartisan concern regarding national security, with proponents advocating for increased control over foreign acquisitions of land. However, some dissenters express apprehension about the potential for overreach and discrimination, arguing that such laws could inadvertently target legitimate foreign investors and affect economic interests. The tension between securing homeland interests and fostering a business-friendly environment highlights significant debate among lawmakers.
Notable points of contention include concerns regarding the broad definition of 'designated countries' and how the law's restrictions might impact lawful residents and potential economic growth. Critics argue the provisions could unfairly penalize individuals who are lawfully present in the United States and could potentially lead to discrimination against various nationalities. The bill's enforcement mechanisms, including civil investigative demands and the appointment of receivers to divest property, have also raised alarms about the extent of government power in private property matters.
Civil Practice And Remedies Code
Property Code