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LEGISLATURE OF NEBRASKA
ONE HUNDRED NINTH LEGISLATURE
SECOND SESSION
LEGISLATIVE BILL 1188
Introduced by DeKay, 40; Andersen, 49; Bostar, 29.
Read first time January 21, 2026
Committee: Agriculture
A BILL FOR AN ACT relating to the Foreign-owned Real Estate National1
Security Act; to amend sections 76-3702 and 76-3703, Revised2
Statutes Supplement, 2025; to update a federal reference; to3
prohibit ownership of real estate in adversary nations by the state4
and any political subdivision thereof; and to repeal the original5
sections. 6
Be it enacted by the people of the State of Nebraska,7
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Section 1. Section 76-3702, Revised Statutes Supplement, 2025, is1
amended to read: 2
76-3702 For purposes of the Foreign-owned Real Estate National3
Security Act: 4
(1) Foreign corporation means a corporation incorporated under the5
laws of a jurisdiction outside of the United States that would be a6
business corporation if incorporated under the laws of this state. A7
corporation incorporated in any state or territory of the United States8
or territory of any Indian tribe of the United States is not a foreign9
corporation; 10
(2) Foreign government means a government other than the federal11
government of the United States, the government of any territory or12
possession of the United States, or the government of any state,13
political subdivision of a state, or Indian tribe;14
(3) Indian tribe means an Indian tribe or band which is recognized15
by federal law or formally acknowledged by the state;16
(4) Nonresident alien means any human being who:17
(a) Is not a citizen of the United States; 18
(b) Is not a national of the United States; 19
(c) Is not a lawful permanent resident of the United States; and20
(d) Has not been physically present in the United States for at21
least one hundred eighty-three days during a three-year period that22
includes the current year and the two years immediately preceding the23
current year; 24
(5) Person means a human being, corporation, business trust, estate,25
trust, partnership, limited liability company, association, joint26
venture, agency, or instrumentality, or any other legal or commercial27
entity; and 28
(6) Restricted entity means: 29
(a) Any person identified on the sanctions lists maintained by the30
Office of Foreign Assets Control of the United States Department of the31
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Treasury as such sanctions lists existed on January 1, 2026 2025; or1
(b) Any person or foreign government determined by the United States2
Secretary of Commerce to have engaged in a long-term pattern or serious3
instances of conduct significantly adverse to the national security of4
the United States pursuant to 15 C.F.R. 791.4, as such regulation existed5
on February 7, 2025. 6
Sec. 2. Section 76-3703, Revised Statutes Supplement, 2025, is7
amended to read: 8
76-3703 (1) Except as provided in the Foreign-owned Real Estate9
National Security Act, a nonresident alien, foreign corporation, or10
foreign government, or an agent, trustee, or fiduciary thereof:11
(a) Shall not purchase, acquire title to, or take any real estate or12
any leasehold interest extending for a period for more than five years or13
any other greater interest less than fee in any real estate in this state14
by descent, devise, purchase or otherwise on or after January 1, 2025;15
and 16
(b) Shall be in compliance with the federal Agricultural Foreign17
Investment Disclosure Act of 1978, 7 U.S.C. 3501 et seq., with respect to18
any real estate in Nebraska. 19
(2) Except as provided in the Foreign-owned Real Estate National20
Security Act, a restricted entity, nonresident alien, foreign21
corporation, foreign government, or an agent, trustee, or fiduciary22
thereof, who on or after January 1, 2025, purchases, acquires title to,23
or takes any real estate or any leasehold interest in violation of the24
Foreign-owned Real Estate National Security Act shall be subject to25
divestment as prescribed under section 76-3712. 26
(3) Any person, nonresident alien, foreign corporation, or foreign27
government, or agent, trustee, or fiduciary thereof, of an excepted real28
estate foreign state as determined by the Committee on Foreign Investment29
in the United States pursuant to 31 C.F.R. 802.1001(a) and 802.214, as30
such regulations existed on January 1, 2025, is exempt from the Foreign-31
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owned Real Estate National Security Act except for any restricted entity,1
or agent, trustee, or fiduciary thereof. 2
(4) The State of Nebraska and any political subdivision thereof3
shall be prohibited from owning any interest in real estate in an4
adversary nation as defined in section 4-203. 5
Sec. 3. Original sections 76-3702 and 76-3703, Revised Statutes6
Supplement, 2025, are repealed. 7
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