Prohibiting the government of, and persons and entities from, the People’s Republic of China from acquiring real property located in the state

This bill prohibits the government of the People’s Republic of China (China), or the government of a province, region, municipality, or autonomous region of China (related regions) from acquiring real property located in this state by grant, purchase, devise, or descent on or after July 1, 2023. The bill also prohibits a corporation incorporated under the laws of the government of China, or a business entity whether or not incorporated, in which a majority interest is owned directly or indirectly by nonresident aliens from China or related regions, from acquiring real property in this state by grant, purchase, devise, or descent on or after July 1, 2023. The bill provides that legal entities, including but not limited to trusts, holding companies, multiple corporations, and other business arrangements, do not affect the determination of ownership or control of the foreign business. The bill requires a county recorder to report a violation of the bill to the attorney general. Upon receipt of a report from a county recorder, the attorney general shall initiate an action in the district court of any county in which the land is located.11.6 (change of status —— divestment).