2023 House Bill 5073

Property: land sales; sale or transfer of agricultural assets or land to foreign entities; prohibit.

A bill to amend 1846 RS 66, entitled “Of estates in dower, by the curtesy, and general provisions concerning real estate,” by amending the title and sections 35 and 36 (MCL 554.135 and 554.136) and by adding sections 36a and 36b.

AI Analysis – Experimental

Allows aliens to acquire, hold, convey, and inherit land similarly to native citizens but imposes restrictions on foreign principals from acquiring or owning agricultural land or real property within 20 miles of military installations or key facilities, except under certain conditions such as diplomatic purposes. It defines "foreign principals" broadly, including governments, political parties, corporations, and individuals associated with countries of concern like China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria.