Missouri HB897: Creates provisions relating to foreign ownership of real estate

What the bill says

To amend chapters67 and 442, RSMo, by adding thereto two new sections relating to foreign ownership of real estate. Section A. Chapters 67 and 442, RSMo, are amended by adding thereto two new sections, to be known as sections 67.5360 and 442.561, to read as follows: 67.5360. 1. The governing body in any political subdivision shall not procure, authorize, or approve a development agreement, building plan, or any other proposal relating to development of the political subdivision with an individual or government identified as a foreign adversary as defined in 15 CFR 7.4(a). 2. The provisions oft.

From the introduced text:

To amend chapters67 and 442, RSMo, by adding thereto two new sections relating to foreign ownership of real estate. Section A. Chapters 67 and 442, RSMo, are amended by adding thereto two new sections, to be known as sections 67.5360 and 442.561, to read as follows: 67.5360. 1. The governing body in any political subdivision shall not procure, authorize, or approve a development agreement, building plan, or any other proposal relating to development of the political subdivision with an individual or government identified as a foreign adversary as defined in 15 CFR 7.4(a). 2. The provisions ofthis section shall not apply to a foreign adversary possessing an interest in real property if the foreign adversary: (1) Is a duly registered business and has maintained a status of good standing with the office of the secretary of state for seven years or longer prior to August 28, 2025; (2) Has been approved by the United States Committee on Foreign Investment under 50 U.S.C. Section 4565; and (3) Maintains an active national security agreement with the federal government. 442.561. 1. Notwithstanding any other provision of law to the contrary, the following governments or entities shall not purchase, hold, or otherwise acquire title to real property in this or EXPLANATION -- Matter enclosed in bold-faced brackets [thus] in the above bill is not …

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