HB2961 SFAT Stuart #2 4-10

Etheredge  7883

Senator Stuart moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. House Bill 2961— A Bill to amend the Code of West Virginia, 1931, as amended by adding a new article, designated §37-3A-1, §37-3A-2, §37-3A-3, §37-3A-4, and §37-3A-5; relating to prohibiting ownership and possession of real property by foreign adversaries; providing definitions; prohibiting the People's Republic of China and its citizens who are not resident aliens or citizens of the United States from acquiring, owning, or transferring any real estate or mineral interests in West Virginia; prohibiting foreign governments, entities, and individuals that have been identified by a majority of Governor, Treasurer, Agriculture Commissioner, Auditor, Attorney General, and Secretary of State, in consultation with the Secretary of Homeland Security, as hostile to the interests of the United States or the State of West Virginia from owning real estate or mineral interests in the state; providing Governor with tie-breaking vote; requiring forbidden entities that own real estate on effective date of article to divest within six months; requiring prohibited businesses that acquire property in violation of article to divest that property within six months; designating judicial sale process to force sale of illegally owned real estate; requiring notice of judicial sale; and establishing good faith protections.

Adopted

Rejected