Bill Text: WV HB5283 | 2024 | Regular Session | Introduced

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Bill Title: Prohibiting certain foreign ownership of land

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2024-01-29 - To House Agriculture and Natural Resources [HB5283 Detail]

Download: West_Virginia-2024-HB5283-Introduced.html

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WEST VIRGINIA LEGISLATURE

2024 REGULAR SESSION

Introduced

House Bill 5283

By Delegates Holstein, Martin, C. Pritt, and Horst

[Introduced January 29, 2024; Referred to the Committee on Agriculture and Natural Resources then the Judiciary]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §36-1-21a, relating to the prohibition of certain foreign ownership of land in this state.

Be it enacted by the Legislature of West Virginia:

 

ARTICLE 1. CREATION OF ESTATES GENERALLY.

§36-1-21a. Certain foreign ownership of agricultural land prohibited.

(a) Notwithstanding any other law, the following may not purchase or otherwise acquire title to agricultural land in this state:

(1)  A governmental entity of China;

(2)  A company or other entity that is:

(i)  Headquartered in China;

(ii) Directly or indirectly held or controlled by the government of China; or

(iii) Owned by or the majority of stock or other ownership interest of which is held or controlled by individuals who are citizens of China; or

(3)  A company or other entity that is owned by or the majority of stock or other ownership interest of which is held or controlled by a company or entity described by Subdivision (2);

(b) Any person, company or entity described in sub-section (a) who acquired any agricultural land in this state prior to July 1, 2024, may not grant, sell, or otherwise transfer such agricultural land to any other alien or foreign business on or after July 1, 2024. No person, may hold agricultural land as an agent, trustee, or other fiduciary for a person, company or entity described in sub-section (a), provided, however, that no security interest in the agricultural land may be divested or invalidated by such violation.

(c) Any person, company or entity described in sub-section (a) of this section who acquires agricultural land in violation of this provision remains in violation of this provision for as long as the nonresident alien or foreign business holds an interest in the land: Provided, That no security interest in such agricultural land may be divested or invalidated by such violation.

(d) Subject to the provisions of subsection (a) of this section, all proposed transfers on or after July 1, 2024, by grant, purchase, devise, descent, or otherwise of any interest in agricultural land held by any person, company or entity described in sub-section (a) in this state shall be submitted to the West Virginia Department of Agriculture to determine whether such transfer of agricultural land is conveyed in accordance with the prohibition on alien and foreign ownership of agricultural land in this state under this section. The department shall establish by rule the requirements for submission and approval of requests under this subsection.

 

NOTE: The purpose of this bill is to prohibit certain foreign ownership of land in this state.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.