AB218: Bill Text

AB218,9 Section 9. 710.02 (2) (d) to (g) of the statutes are repealed.

AB218,10 Section 10. 710.02 (2) (h) of the statutes is created to read:

AB218,4,4 710.02 (2) (h) A lease that is exclusively for agricultural research purposes and encumbers no more than 50 acres of agricultural land.

AB218,11 Section 11. 710.02 (3) of the statutes is repealed.

AB218,12 Section 12. 710.02 (4) (a) 2. of the statutes is amended to read:

AB218,4,10 710.02 (4) (a) 2. If the interest in land is acquired, owned, or held under an exception set forth in sub. (2), a statement which that sets forth the specific exception and, if under sub. (2) (d), (e), (f) or (g), the timetable and plan for conversion and development to a purpose permitted under sub. (2) (d), (e), (f) or (g).

AB218,13 Section 13. 710.02 (5) (a) and (b) of the statutes are amended to read:

AB218,4,14 710.02 (5) (a) Interests exceeding 640 in agricultural land in excess of 50 acres that are acquired by persons under sub. (1) (1r) shall be divested at the discretion of the holder to comply with sub. (1) (1r) within 4 3 years after:

AB218,4,16 1. Acquiring the interest, if the interest is described under sub. (2) (a) and the person is subject to sub. (1) (1r) (a) or, (b), or (d).

AB218,4,18 2. Acquiring the interest or becoming subject to sub. (1) (1r) (c), whichever is later, if the person is subject to sub. (1) (1r) (c).

AB218,4,22 (b) Land Agricultural land subject to divestiture under par. (a) may not be managed to cause undue levels of soil erosion or to injure the long-range productivity of the agricultural land. The attorney general may bring an action to enjoin these those practices on the agricultural land.

AB218,14 Section 14. 710.02 (6) of the statutes is amended to read:

AB218,5,3 710.02 (6) Forfeitures. Interests in lands agricultural land in excess of 640 50 acres that are acquired, owned, or held in violation of this section are forfeited to the state. The holder of the interest shall determine which agricultural lands are to be forfeited to comply with sub. (1) (1r).

AB218,15 Section 15. 710.02 (9) of the statutes is renumbered 710.02 (9) (a) and amended to read:

AB218,5,10 710.02 (9) (a) This section Section 710.02, 2023 stats., applies to interests in land acquired after July 1, 1982, and before the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date]. No interest acquired before July 1, 1982, is subject to divestiture or forfeiture under this section s. 710.02, 2023 stats.

AB218,16 Section 16. 710.02 (9) (b) of the statutes is created to read:

AB218,5,16 710.02 (9) (b) This section applies to interests in land acquired on or after the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date]. No interest acquired before the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date], is subject to divestiture or forfeiture under this section.

AB218,17 Section 17. 710.04 of the statutes is created to read:

AB218,5,19 710.04 Prohibition on foreign ownership near military installations. (1) Definitions. In this section:

AB218,5,21 (a) “Covered foreign person” means a person described under s. 710.02 (1r) (a) to (d).

AB218,5,24 (b) “Military installation” means a base, camp, post, station, yard, or center encompassing at least 10 contiguous acres that is under the jurisdiction of the U.S. department of defense or its affiliates.

AB218,6,4 (2) Prohibition. A covered foreign person may not acquire, own, or hold any interest, directly or indirectly, except an interest used to secure repayment of a debt incurred in good faith, in real property in this state that is located on or within 10 miles of a military installation.

AB218,6,5 (3) Exceptions. Subsection (2) does not apply to any of the following:

AB218,6,8 (a) Subject to sub. (4), a covered foreign person acquiring an interest in real property by devise or inheritance or in the good faith collection of debts by due process of law.

AB218,6,10 (b) A citizen, foreign government, or subject of a foreign government whose right to hold real property is secured by treaty.

AB218,6,11 (c) A railroad or pipeline corporation.

AB218,6,16 (4) Divestiture. (a) If a covered foreign person acquires an interest in real property described under sub. (3) (a) that the covered foreign person is otherwise prohibited from acquiring, owning, or holding under sub. (2), the covered foreign person shall divest itself of the interest within 18 months after acquiring the interest.

AB218,6,22 (b) Except as provided in par. (a), if a person becomes a person described under s. 710.02 (1r) (c) 1. or 2. after the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date], the person shall divest itself of any interests in real property owned or held in violation of sub. (2) within 18 months after the date on which the person becomes a person described under s. 710.02 (1r) (c) 1. or 2.

AB218,7,2 (5) Forfeitures; enforcement. Any interest in real property acquired, owned, or held in violation of this section is forfeited to the state. The attorney general shall enforce this section.

AB218,7,7 (6) Applicability. This section applies to an interest in real property acquired on or after the first day of the first month beginning after the effective date of this subsection .... [LRB inserts date]. No interest acquired before the first day of the first month beginning after the effective date of this subsection .... [LRB inserts date], is subject to divestiture or forfeiture under this section.

AB218,18 Section 18. 710.045 of the statutes is created to read:

AB218,7,11 710.045 Prohibition on foreign adversary ownership of real property. (1) Definition. In this section, “foreign adversary” means a person determined to be a foreign adversary under 15 CFR 791.4.

AB218,7,13 (2) Prohibition. A foreign adversary may not acquire, own, or hold any interest, directly or indirectly, in real property in this state.

AB218,7,16 (3) Forfeitures; enforcement. Any interest in real property acquired, owned, or held in violation of this section is forfeited to the state. The attorney general shall enforce this section.

AB218,7,21 (4) Applicability. This section applies to an interest in real property acquired on or after the first day of the first month beginning after the effective date of this subsection .... [LRB inserts date]. No interest acquired before the first day of the first month beginning after the effective date of this subsection .... [LRB inserts date], is subject to divestiture or forfeiture under this section.

AB218,7,22 (end)