HB4597 - Relating to interests in real property held or acquired by or on behalf of certain foreign individuals or entities and the authority of the attorney general to acquire the property by eminent domain; establishing the homeland security review committee; creating a criminal offense.

  89R3201 DRS-F     By: Cain H.B. No. 4597       A BILL TO BE ENTITLED   AN ACT   relating to interests in real property held or acquired by or on   behalf of certain foreign individuals or entities and the authority   of the attorney general to acquire the property by eminent domain;   establishing the homeland security review committee; creating a   criminal offense.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 64.001(a), Civil Practice and Remedies   Code, is amended to read as follows:          (a)  A court of competent jurisdiction may appoint a   receiver:                (1)  in an action by a vendor to vacate a fraudulent   purchase of property;                (2)  in an action by a creditor to subject any property   or fund to the creditor's [ his ] claim;                (3)  in an action between partners or others jointly   owning or interested in any property or fund;                (4)  in an action by a mortgagee for the foreclosure of   the mortgage and sale of the mortgaged property;                (5)  for a corporation that is insolvent, is in   imminent danger of insolvency, has been dissolved, or has forfeited   its corporate rights; [ or ]                (6)   in an action by the attorney general under   Subchapter H, Chapter 5, Property Code; or                 (7)   in any other case in which a receiver may be   appointed under the rules of equity.          SECTION 2.  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 3.  Chapter 5, Property Code, is amended by adding   Subchapter H to read as follows:   SUBCHAPTER H.   HOLDING OR ACQUISITION OF REAL PROPERTY INTEREST BY   FOREIGN INDIVIDUAL OR ENTITY           Sec. 5.251.  DEFINITIONS.  In this subchapter:                 (1)     "Agricultural land" means land located in this   state that is suitable for:                       (A)     use in production of plants and fruits grown   for human or animal consumption, or plants grown for the production   of fibers, floriculture, viticulture, horticulture, or planting   seed; or                       (B)     domestic or native farm or ranch animals kept   for use or profit.                 (2)     "Committee" means the homeland security review   committee established under Section 5.252.                 (3)     "Control" means the direct or indirect power to   determine, direct, dictate, or decide important matters affecting   an organization, including through:                       (A)     the ownership of at least 20 percent of the   total outstanding voting interest in an organization;                       (B)  board representation;                       (C)     the ability to appoint or discharge a board   member, officer, director, employee, or contractor;                       (D)     proxy voting, a special share, a contractual   arrangement, a legal obligation, or a formal or informal   arrangement to act in concert; or                       (E)  another means of exercising power.                 (4)     "Critical infrastructure" means a facility or site   in this state for which the committee determines that possession of   the facility or site or of real property located near the facility   or site could pose a risk to the security, economy, or public health   of this state.                 (5)  "Foreign adversary" means:                       (A)  the People's Republic of China;                       (B)  the Russian Federation;                       (C)  the Islamic Republic of Iran;                       (D)  the Democratic People's Republic of Korea;                       (E)     an agency or entity under the control of the   government of a country described by Paragraphs (A) through (D); or                       (F)     an organization wholly or partly owned by or   under the control of an agency or entity described by Paragraph (E).                 (6)     "Organization" has the meaning assigned by Section   1.002, Business Organizations Code.                 (7)  "Real property" means:                       (A)  land, including agricultural land;                       (B)  an improvement;                       (C)  a mine or quarry;                       (D)  a mineral in place; or                       (E)  standing timber.                 (8)     "Wholly or partly owned by or under the control of"   means:                       (A)     for a person that is a publicly traded   company, that a person has:                             (i)     the ability to exercise control over   the company;                             (ii)     access to any material, nonpublic, and   technical information in the company's possession; or                             (iii)     other rights or involvement in   controlling or participating in the decision-making of the company   beyond rights or involvement available to a retail investor holding   an equivalent share of ownership; and                       (B)     for a person that is a privately held   company, that a person has any share of ownership of the company.           Sec.   5.252.     HOMELAND SECURITY REVIEW COMMITTEE. (a)   The   homeland security review committee is established and is composed   of the following members:                 (1)  the governor or the governor's designee;                 (2)     the speaker of the house of representatives or the   speaker's designee;                 (3)     the lieutenant governor or the lieutenant   governor's designee;                 (4)     the attorney general or the attorney general's   designee;                 (5)     the adjutant general or the adjutant general's   designee;                 (6)     the commissioner of agriculture or the   commissioner's designee; and                 (7)  any other members that the governor may appoint.           (b)  The committee shall:                 (1)     identify the locations of critical infrastructure   in this state;                 (2)  determine the following:                       (A)     the distance in miles from the location of   critical infrastructure within which real property must be located   to make a transaction involving the property or acquisition of the   property subject to:                             (i)     reporting under Section 5.253(d)(1)(A)   and prior approval under Section 5.256; or                             (ii)     reporting under Section   5.253(d)(1)(B) and disapproval under Section 5.257;                       (B)     the amount of acreage of a parcel of real   property that makes a transaction or acquisition subject to the   reporting under Section 5.253(d)(2)(A) and prior approval under   Section 5.256; and                       (C)     the number of parcels of real property that   makes a transaction or acquisition subject to reporting under   Section 5.253(d)(2)(B) and prior approval under Section 5.256; and                 (3)     by majority vote approve or disapprove a real   property transaction or acquisition for which the committee's   determination is required by Section 5.256 or 5.257.           (c)     For purposes of a majority vote of the committee under   Subsection (b)(3), the governor or the governor's designee is   entitled to four votes and each other member of the committee is   entitled to one vote.           (d)     The governor in consultation with the committee shall   adopt rules to administer this subchapter.           Sec.   5.253.     REPORT OF REAL PROPERTY TRANSACTION OR   ACQUISITION REQUIRED. (a)   For purposes of this subchapter, a   transaction to acquire an interest in real property includes the   execution of a lease agreement under which a person required to   report to the committee under this section takes possession of the   property.           (b)     A person described by Subsection (c) shall report to the   committee:                 (1)     a transaction to acquire an interest in real   property described by Subsection (d), not later than the 30th day   before the proposed closing date of the transaction; or                 (2)     acquisition of an interest in real property   described by Subsection (d) by any means, not later than the 30th   day after the date of the acquisition.      [Text truncated for display. Full text available on Congress.gov.]