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A BILL TO BE ENTITLED
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AN ACT
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relating to certain property interests of a foreign government in |
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agricultural land. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Title 1, Agriculture Code, is amended by adding |
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Chapter 3 to read as follows: |
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CHAPTER 3. PROPERTY INTEREST OF FOREIGN GOVERNMENT IN |
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AGRICULTURAL LAND |
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Sec. 3.001. DEFINITIONS. In this chapter: |
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(1) "Agricultural land" means land that qualifies for |
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tax appraisal under Subchapter C or D, Chapter 23, Tax Code. |
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(2) "Foreign government" does not include: |
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(A) a federally recognized Indian tribe, as |
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listed by the United States secretary of the interior under 25 |
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U.S.C. Section 5131; or |
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(B) a government unit or enterprise of a |
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federally recognized Indian tribe described by Paragraph (A). |
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Sec. 3.002. CERTAIN PROPERTY INTERESTS OF FOREIGN |
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GOVERNMENT IN AGRICULTURAL LAND PROHIBITED. (a) Notwithstanding |
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any other law, and except as provided by Section 3.003, the |
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following may not lease, purchase, or otherwise acquire title to or |
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hold any other interest in agricultural land in this state: |
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(1) a foreign government; |
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(2) a company or other entity that is directly or |
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indirectly held or controlled by a foreign government; or |
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(3) a company or other entity that is owned by or the |
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majority of stock or other ownership interest of which is held or |
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controlled by a company or entity described by Subdivision (2). |
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(b) A transfer of a property interest in agricultural land |
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in violation of this section is void. |
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Sec. 3.003. PROPERTY INTEREST HELD ON AUGUST 31, 2023. (a) |
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Subject to Subsection (b), an entity described by Section 3.002 may |
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hold a property interest in agricultural land if the interest was |
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held by the entity on August 31, 2023. |
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(b) A property interest in agricultural land held by an |
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entity described by Section 3.002 that terminates on or after |
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September 1, 2023, may not be renewed by the entity. |
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SECTION 2. Section 5.005, Property Code, is amended to read |
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as follows: |
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Sec. 5.005. ALIENS. Except as provided by Chapter 3, |
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Agriculture Code, an [An] alien has the same real and personal |
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property rights as a United States citizen. |
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SECTION 3. This Act takes effect September 1, 2023. |