
New Senate Bill Could Block Land Purchases by Foreign Nationals in Texas
Texas is a big state with a lot of land and a lot of property worth millions of dollars. Right now, many people have bought and are looking to buy land in the Lone Star State. The only thing is, a lot of these land buyers do not live in Texas, and do not live in the United States. Many are from countries that might be considered a threat to the US.
Some in the Texas Legislature believe that these types of people shouldn't be able to purchase land in our state and have started a bill to help prevent these types of purchases.
What is Texas Senate Bill 17?
Senate Bill 17 would essentially ban individuals or companies that are not citizens and are seen as national security threats from purchasing real estate in Texas.
The Texas Tribune reported that the Texas House passed the bill with amendments and it will allow the governor the power to determine what countries and other entities could be banned from purchasing property in Texas. The Bill will head back to the Senate to approve the amendments the House requested. If approved, the bill will more than likely be sent to Governor Abbott for a signature, putting this bill into law.
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What Countries Would Senate Bill 17 Affect?
The countries affected and are seen as national security threats are:
- China
- Iran
- North Korea
- Russia
Real estate that the ban applies to includes farms, businesses, homes, and other property in Texas.
Why are Lawmakers in Texas Pushing Senate Bill 17?
According to the author of SB 17 said Senator Kolkhorst.
This legislation will ensure that hostile nations do not control Texas’ most precious assets. This is a matter of national security. Texas must act now to protect our land, food sources, water, and natural resources.
Many protests have taken place across Texas since SB 17 was introduced. Fox 7 in Austin reported protesters near the Capitol on May 10th.
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While one side sees this as a security measure for the State of Texas, others feel as if it might affect foreign investments in Texas.
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