Creates provisions relating to foreign ownership of real estate

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Creates provisions relating to foreign ownership of real estate

The following summaries of this bill are available: Print All Summaries Introduced Print SB 1049 - Under the act, the governing body of a political subdivision shall not procure, authorize, or approve a development agreement proposal relating to development of the political subdivision with an individual or government identified as a foreign adversary, as defined in the act.

What This Bill Does

• The following summaries of this bill are available: Print All Summaries Introduced Print SB 1049 - Under the act, the governing body of a political subdivision shall not procure, authorize, or approve a development agreement proposal relating to development of the political subdivision with an individual or government identified as a foreign adversary, as defined in the act.
• This provision shall not apply to certain foreign adversaries possessing interest in real property, as described in the act.
• Certain foreign governments or entities shall not purchase, hold or acquire title to real property in this state if such foreign government or entity is listed as a foreign adversary or a foreign business entity; headquartered in a country that is a foreign adversary; directly or indirectly held or controlled by a foreign adversary; owned the majority of stock or other ownership interest which is held or controlled by citizens of a foreign adversary; or controlled by or has the majority of stock or other ownership interest held or controlled by citizens of a foreign adversary.
• This act shall not apply to a foreign adversary possessing real property interest if such foreign adversary is a duly registered business in good standing with the Secretary of State for seven years or longer prior to August 28, 2026, has been approved by the United States Committee of Foreign Investment as described in the act, and maintains an active national security agreement with the federal government.

Limits and Unknowns

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Official Summary Text

The following summaries of this bill are available:

Print All Summaries

Introduced

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SB 1049 - Under the act, the governing body of a political subdivision shall not procure, authorize, or approve a development agreement proposal relating to development of the political subdivision with an individual or government identified as a foreign adversary, as defined in the act. This provision shall not apply to certain foreign adversaries possessing interest in real property, as described in the act.

Certain foreign governments or entities shall not purchase, hold or acquire title to real property in this state if such foreign government or entity is listed as a foreign adversary or a foreign business entity; headquartered in a country that is a foreign adversary; directly or indirectly held or controlled by a foreign adversary; owned the majority of stock or other ownership interest which is held or controlled by citizens of a foreign adversary; or controlled by or has the majority of stock or other ownership interest held or controlled by citizens of a foreign adversary.

This act shall not apply to a foreign adversary possessing real property interest if such foreign adversary is a duly registered business in good standing with the Secretary of State for seven years or longer prior to August 28, 2026, has been approved by the United States Committee of Foreign Investment as described in the act, and maintains an active national security agreement with the federal government.

This act is identical to SB 211 (2025), HB 897 (2025), SB 893 (2024), and substantially similar to SB 649 (2023).
JULIA SHEVELEVA

Current Bill Text

SECOND REGULAR SESSION
SENATE BILL NO. 1049
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR FITZWATER.
4487S.01I KRISTINA MARTIN, Secretary
AN ACT
To amend chapters 67 and 442, RSMo, by adding thereto two new sections relating to foreign
ownership of real estate.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Chapters 67 and 442, RSMo, are amended by 1
adding thereto two new sections, to be known as sections 67.5360 2
and 442.561, to read as follows:3
67.5360. 1. The governing body in any political 1
subdivision shall not procure, authorize, or approve a 2
development agreement, building plan, or any other proposal 3
relating to development of the political subdivision with an 4
individual or government identified as a foreign adversary 5
as defined in 15 CFR 7.4(a). 6
2. The provisions of this section shall not apply to a 7
foreign adversary possessing an interest in real property if 8
the foreign adversary: 9
(1) Is a duly registered business and has maintained a 10
status of good standing with the office of the secretary of 11
state for seven years or longer prior to August 28, 2026; 12
(2) Has been approved by the United States Committee 13
on Foreign Investment under 50 U.S.C. Section 4565; and 14
(3) Maintains an active national security agreement 15
with the federal government. 16
SB 1049 2
442.561. 1. Notwithstanding any other provision of 1
law to the contrary, the following governments or entities 2
shall not purchase, hold, or otherwise acquire title to real 3
property in this state: 4
(1) A foreign government listed as a foreign 5
adversary; or 6
(2) A foreign business entity that is: 7
(a) Headquartered in a country that is a foreign 8
adversary; 9
(b) Directly or indirectly held or controlled by a 10
foreign adversary; 11
(c) Owned by the majority of stock or other ownership 12
interests which are held or controlled by individuals who 13
are citizens of a foreign adversary; or 14
(d) A company owned by, or the majority of stock or 15
other ownership interest which are held or controlled by, a 16
company or entity described in paragraph (c) of this 17
subdivision. 18
2. The provisions of this section shall not apply to a 19
foreign adversary possessing an interest in real property if 20
the foreign adversary: 21
(1) Is a duly registered business and has maintained a 22
status of good standing with the office of the secretary of 23
state for seven years or longer prior to August 28, 2026; 24
(2) Has been approved by the United States Committee 25
on Foreign Investment under 50 U.S.C. Section 4565; and 26
(3) Maintains an active national security agreement 27
with the federal government. 28
3. For purposes of this section, "foreign adversary" 29
means an individual or government identified as a foreign 30
adversary in 15 CFR 7.4(a). 31
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