Amend CSSB 17 (house committee report) on page 8, between lines 17 and 18, by adding the following appropriately numbered sections to added Subchapter H, Chapter 5, Property Code:
Sec. ____. OFFENSE; PENALTY. (a) A person commits an offense if the person:
(1) is an individual described by Section 5.253(4); and
(2) intentionally or knowingly purchases or otherwise acquires an interest in real property in this state in violation of this subchapter.
(b) An offense under Subsection (a) is a state jail felony.
Sec. ____. CIVIL PENALTY. (a) The attorney general may bring an action in the name of the state against a company or entity that violates this subchapter.
(b) A company or entity that a court determines in an action brought under this section to have violated this subchapter is liable to the state for a civil penalty equal to the greater of:
(1) $250,000; or
(2) 50 percent of the market value of the interest in real property that is the subject of the violation.