A bill has been proposed in the Texas legislature that aims to prohibit citizens, governments, and entities from China, Iran, North Korea, and Russia from buying land in the state, according to The Center Square.
The bill, known as SB 147, was filed by Republican state Senator Lois Kolkhorst.
This bill follows a similar executive order issued in Florida last year, but it targets fewer countries and has fewer restrictions.
The proposed bill aims to prevent specific foreign individuals or entities from acquiring ownership of real estate in Texas. The prohibited individuals or entities include:
- Governmental entities from China, Iran, North Korea, or Russia.
- Companies or entities headquartered in these countries or controlled by their governments.
- Entities owned by or with a majority of ownership interest held by citizens of these countries.
- Citizens of these countries, among other criteria outlined in the bill.
This development comes as foreign ownership of Texas’s agricultural land is on the rise.
A recent report from the Austin American-Statesman reveals that foreign entities have acquired 1.7 million acres of agricultural land in Texas over the past decade, surpassing all other states.
Texas ranks third in terms of foreign land ownership, with 8% of all foreign-owned land in the U.S., behind Florida with 24% and California with 11%.
Several Republican states, including Texas, Florida, and Wyoming, have recently increased their efforts to ban foreign land purchases in the U.S. These states join a group of 10 states that have already taken steps to restrict and regulate foreign land acquisition. Four of these states have gone so far as to prohibit the purchase of any land by foreign individuals or entities.