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  89R11214 DRS-D     By: Shaheen H.B. No. 4296       A BILL TO BE ENTITLED   AN ACT   relating to interests of certain foreign governments in real   property.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 5.005, Property Code, is amended to read   as follows:          Sec. 5.005.  ALIENS. Except as provided by Subchapter H, an   [ An ] alien has the same real and personal property rights as a   United States citizen.          SECTION 2.  Chapter 5, Property Code, is amended by adding   Subchapter H to read as follows:   SUBCHAPTER H.     INTERESTS OF CERTAIN FOREIGN GOVERNMENTS IN REAL   PROPERTY           Sec.   5.251.     DEFINITION. In this subchapter, "foreign   government" means the government of China, Iran, Iraq, North Korea,   Russia, or Syria.           Sec.   5.252.     CERTAIN INTERESTS IN REAL PROPERTY PROHIBITED.   (a)   Notwithstanding any other law, and except as provided by   Section 5.253, the following may not lease, purchase, or otherwise   acquire title to or hold any other interest in real property in this   state:                 (1)  a foreign government;                 (2)     a company or other entity that is directly or   indirectly held or controlled by a foreign government; 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)     A transfer of an interest in real property in violation   of this section is void.           Sec.   5.253.     PROPERTY INTEREST HELD ON AUGUST 31, 2025.   (a)   Subject to Subsection (b), an entity described by Section 5.252 may   hold an interest in real property if the interest was held by the   entity on August 31, 2025.           (b)     An interest in real property held by an entity described   by Section 5.252 that terminates on or after September 1, 2025, may   not be renewed by the entity.          SECTION 3.  This Act takes effect September 1, 2025.