NY State Senate Bill 2023-S6522

Senate Bill S6522

2023-2024 Legislative Session

Prohibits the acquisition of real property by foreign countries and entities of particular concern

download bill text pdf

Current Bill Status - In Senate Committee Judiciary Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to judiciary
Apr 25, 2023	referred to judiciary

2023-S6522 (ACTIVE) - Details

See Assembly Version of this Bill:: A5301
Current Committee:: Senate Judiciary
Law Section:: Real Property Law
Laws Affected:: Amd §10, RP L

2023-S6522 (ACTIVE) - Summary

Prohibits the acquisition of real property by foreign countries and entities of particular concern as well as citizens, companies, entities, and members of such countries and entities.

2023-S6522 (ACTIVE) - Sponsor Memo

2023-S6522 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6522
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 25, 2023
                                ___________
 
 Introduced  by  Sen.  ASHBY  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the real property law, in relation  to  prohibiting  the
   acquisition  of  real  property  by  foreign countries and entities of
   particular concern

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 10 of the real property law, as amended by chapter
 272 of the laws of 1944, subdivision 2 as amended by chapter 669 of  the
 laws  of  2022, and subdivision 3 as added by chapter 740 of the laws of
 1954, is amended to read as follows:
   § 10. Capacity to hold real property.  1.  A  citizen  of  the  United
 States  is  capable  of  holding real property within this state, and of
 taking the same by descent, devise or purchase.
   2. Noncitizens, OTHER THAN THOSE PROHIBITED UNDER SUBDIVISION FOUR  OF
 THIS SECTION, are empowered to take, hold, transmit, and dispose of real
 property  within  this  state in the same manner as native-born citizens
 and their heirs and devisees take in the same manner as citizens.
   3. For the purpose of maintaining offices and places of residence  for
 its ambassadors and consular officers and for its representatives at the
 United  Nations, a foreign government, OTHER THAN THOSE PROHIBITED UNDER
 SUBDIVISION FOUR OF THIS SECTION, is empowered  to  hold,  transmit  and
 dispose  of  real property within this state. Title to such property may
 be taken either in the name of the foreign government or in the name  of
 its  ambassador  or  consul or in the name of its minister to the United
 Nations. If a conveyance of real property is made to  an  ambassador  or
 consul  or  minister of a foreign government as such, or contains appro-
 priate words showing the intention to vest the title in  the  holder  of
 the  office  rather  than in the named individual, the title to the real
 property shall pass from time to time without any further conveyance  to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08872-01-3
 S. 6522                             2

 
 the  respective  successors in such office, who shall have full power to
 dispose of such property.
   4.  ON  AND AFTER THE EFFECTIVE DATE OF THE CHAPTER OF THE LAWS OF TWO
 THOUSAND TWENTY-THREE THAT AMENDED THIS SECTION, THE FOLLOWING  NONCITI-
 ZENS,  FOREIGN  GOVERNMENTS,  AND  FOREIGN  ENTITIES SHALL NOT TAKE REAL
 PROPERTY WITHIN THIS STATE AND SHALL ONLY TRANSFER OR  DISPOSE  OF  REAL
 PROPERTY  WITHIN  THIS STATE TO A PERSON OR ENTITY ELIGIBLE TO TAKE SUCH
 REAL PROPERTY UNDER THIS SECTION:
   (A)  A GOVERNMENTAL ENTITY OF A FOREIGN COUNTRY OF PARTICULAR  CONCERN
 OR  AN  ENTITY OF PARTICULAR CONCERN, AS IDENTIFIED BY THE UNITED STATES
 DEPARTMENT OF STATE;
   (B)  A COMPANY OR OTHER ENTITY THAT IS OWNED BY  OR  THE  MAJORITY  OF
 STOCK  OR  OTHER  OWNERSHIP INTEREST OF WHICH IS HELD OR CONTROLLED BY A
 COMPANY OR ENTITY THAT IS:
   (I)  HEADQUARTERED IN ANY FOREIGN COUNTRY OF  PARTICULAR  CONCERN,  AS
 IDENTIFIED BY THE UNITED STATES DEPARTMENT OF STATE;
   (II)    DIRECTLY OR INDIRECTLY HELD OR CONTROLLED BY THE GOVERNMENT OF
 ANY FOREIGN COUNTRY  OF  PARTICULAR  CONCERN  OR  ENTITY  OF  PARTICULAR
 CONCERN, AS IDENTIFIED BY THE UNITED STATES DEPARTMENT OF STATE; OR
   (III)    OWNED BY OR THE MAJORITY OF STOCK OR OTHER OWNERSHIP INTEREST
 OF WHICH IS HELD OR CONTROLLED BY INDIVIDUALS WHO ARE  CITIZENS  OF  ANY
 FOREIGN COUNTRY OF PARTICULAR CONCERN OR MEMBERS OF AN ENTITY OF PARTIC-
 ULAR CONCERN, AS IDENTIFIED BY THE UNITED STATES DEPARTMENT OF STATE; OR
   (C)   AN INDIVIDUAL WHO IS A CITIZEN OF ANY FOREIGN COUNTRY OF PARTIC-
 ULAR CONCERN OR IS A MEMBER OF AN ENTITY OF PARTICULAR CONCERN, AS IDEN-
 TIFIED BY THE UNITED STATES DEPARTMENT OF STATE.
   § 2. If any clause, sentence, paragraph, section or part of  this  act
 shall  be  adjudged by any court of competent jurisdiction to be invalid
 and after exhaustion of all further judicial review, the judgment  shall
 not  affect,  impair  or  invalidate the remainder thereof, but shall be
 confined in its operation to the clause, sentence, paragraph, section or
 part of this act directly involved in the controversy in which the judg-
 ment shall have been rendered.
   § 3.  This act shall take effect immediately.

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