Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that prohibits the acquisition of agricultural land and land adjacent to military installations by certain foreign adversaries in North Carolina.

Highlights:

• Defines “adversarial foreign government” as a state-controlled enterprise or the government of a country or group listed in the International Traffic in Arms Regulation (Sec. 1).

• Defines a “prohibited foreign party” as any of the following, unless approved by the Committee of Foreign Investment in the United States (Sec. 1):

• An adversarial foreign government or a foreign government formed within an adversarial foreign government;

• An entity or trust, other than a government, that is created or organized under the laws of a foreign government within an adversarial foreign government;

• An entity or trust, other than a government, that meets certain criteria; or

• An agent, trustee, or other fiduciary of any entity in the above categories.

• Prohibits a prohibited foreign party from purchasing, acquiring, leasing, or holding any interest, except for a de minimis direct interest, in agricultural land or any property that is within a 50-mile radius of a military installation (Sec. 1).

• Requires a prohibited foreign party that holds any interest in such lands to register with the Secretary of State, and prohibits it from acquiring any new interest in such lands (Sec. 1).

• Specifies that no person other than a prohibited foreign party would have any civil liability for failing to determine whether a party is a prohibited foreign party (Sec. 1).

• Specifies that this Act takes effect April 1, 2027 (Sec. 6).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that prohibits the acquisition of agricultural land and land adjacent to military installations by certain foreign adversaries in North Carolina.

Highlights:

• Defines “adversarial foreign government” as a state-controlled enterprise or the government of a country or group listed in the International Traffic in Arms Regulation (Sec. 1).

• Defines a “prohibited foreign party” as any of the following, unless approved by the Committee of Foreign Investment in the United States (Sec. 1):

• An adversarial foreign government or a foreign government formed within an adversarial foreign government;

• An entity or trust, other than a government, that is created or organized under the laws of a foreign government within an adversarial foreign government;

• An entity or trust, other than a government, that meets certain criteria; or

• An agent, trustee, or other fiduciary of any entity in the above categories.

• Prohibits a prohibited foreign party from purchasing, acquiring, leasing, or holding any interest, except for a de minimis direct interest, in agricultural land or any property that is within a 50-mile radius of a military installation (Sec. 1).

• Requires a prohibited foreign party that holds any interest in such lands to register with the Secretary of State, and prohibits it from acquiring any new interest in such lands (Sec. 1).

• Specifies that no person other than a prohibited foreign party would have any civil liability for failing to determine whether a party is a prohibited foreign party (Sec. 1).

• Specifies that this Act takes effect April 1, 2027 (Sec. 6).

Full Bill Text