https://capitol.texas.gov/tlodocs/88R/billtext/html/SB00147I.htm
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| relating to the purchase of or acquisition of title to real property | ||
| by certain aliens or foreign entities. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 5.005, Property Code, is amended to read | ||
| as follows: | ||
| Sec. 5.005. ALIENS. Except as provided by Section 5.0051, | ||
| an [ |
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| United States citizen. | ||
| SECTION 2. Subchapter A, Chapter 5, Property Code, is | ||
| amended by adding Section 5.0051 to read as follows: | ||
| Sec. 5.0051. PURCHASE OF OR ACQUISITION OF TITLE TO REAL | ||
| PROPERTY BY CERTAIN FOREIGN INDIVIDUALS OR ENTITIES PROHIBITED. | ||
| Notwithstanding any other law, the following may not purchase or | ||
| otherwise acquire title to real property in this state: | ||
| (1) a governmental entity of China, Iran, North Korea, | ||
| or Russia; | ||
| (2) a company or other entity that is: | ||
| (A) headquartered in China, Iran, North Korea, or | ||
| Russia; | ||
| (B) directly or indirectly held or controlled by | ||
| the government of China, Iran, North Korea, or Russia; or | ||
| (C) owned by or the majority of stock or other | ||
| ownership interest of which is held or controlled by individuals | ||
| who are citizens of China, Iran, North Korea, or Russia; | ||
| (3) a company or other entity that is owned by or the | ||
| majority of stock or other ownership interest of which is held or | ||
| controlled by a company or entity described by Subdivision (2); or | ||
| (4) an individual who is a citizen of China, Iran, | ||
| North Korea, or Russia. | ||
| SECTION 3. The changes in law made by this Act apply only to | ||
| the purchase of or other acquisition of title to real property on or | ||
| after the effective date of this Act. The purchase of or other | ||
| acquisition of title to real property before the effective date of | ||
| this Act is governed by the law in effect immediately before the | ||
| effective date of this Act, and that law is continued in effect for | ||
| that purpose. | ||
| SECTION 4. This Act takes effect September 1, 2023. | ||
