Senate Bill 284

Actions
Last Action 02/28/24: to Agriculture (S)
Title AN ACT relating to the acquisition and ownership of real property by a foreign principal.
Bill Documents Introduced
Fiscal Impact Statements Corrections Impact
Local Mandate
Bill Request Number 2048
Sponsors M. Wise, R. Mills, L. Tichenor
Summary of Original Version Create new sections of KRS Chapter 381 to define terms; prohibit a foreign principal from acquiring or owning agricultural land; require a foreign principal that owns or acquires agricultural land before the effective date of this Act to register the ownership with the Department of Agriculture; require a purchaser of agricultural land to file an affidavit with the Department of Agriculture attesting that the purchaser is not a foreign principal; authorize the Department of Agriculture to promulgate regulations; prohibit a foreign principal from acquiring or owning real property on or within 10 miles of a military installation; require a foreign principal that owns or acquires real property on or within 10 miles of a military installation before the effective date of this Act, or that owns real property as authorized to register the ownership with the Cabinet for Economic Development; require a purchaser of real property located on or within 10 miles of a military installation to file an affidavit with the Cabinet for Economic Development attesting that the purchaser is not a foreign principal; authorize the Cabinet for Economic Development to promulgate regulations; authorize the Kentucky Real Estate Commission to establish regulations related to the affidavits required under this Act; establish procedures for the forfeiture of real property owned or acquired in violation of this Act; establish penalties for violations; amend KRS 381.320 to conform.
Index Headings of Original Version County Clerks - Property forfeiture, lis pendens notice
Courts, Circuit - Civil action by Cabinet for Economic Development, real property, forfeiture
Courts, Circuit - Civil action by Department of Agriculture, agricultural land, forfeiture
Crimes and Punishments - Ownership of real property, prohibition
Deeds and Conveyances - Ownership of real property, restrictions
Deeds and Conveyances - Real property, sale or transfer, affidavit
Property - Ownership of real property, registration requirement
Property - Ownership of real property, restrictions
Real Estate - Ownership of real property, registration requirement
Real Estate - Ownership of real property, restrictions
Homeland Security - Foreign principals, ownership of real property, restrictions
Administrative Regulations and Proceedings - Cabinet for Economic Development, ownership of real property, regulation
Administrative Regulations and Proceedings - Department of Agriculture, ownership of agricultural land, regulation
Agriculture - Ownership of agricultural land, registration requirement
Agriculture - Ownership of agricultural land, restrictions
Civil Actions - Real property, forfeiture, establishment
Boards and Commissions - Kentucky Real Estate Commission, real property, sale or transfer, affidavit
Corrections Impact - Ownership of real property, restrictions
Local Mandate - Ownership of real property, restrictions

Actions

Top
02/26/24
  • introduced in Senate
  • to Committee on Committees (S)
02/28/24
  • to Agriculture (S)


Last updated: 9/26/2024 1:37 PM (EDT)