IPFS News Link • Texas
Texas Senate Passes Legislation Banning 'Hostile Foreign Nations' From Buying Farmland
• https://www.zerohedge.com by Tyler Durden"This bill protects Texas farmland, oil and gas, rare earth materials and timber from being owned by foreign entities classified as hostile by the Director of U.S. National Intelligence for three consecutive reports. These nations currently include China, Russia, North Korea, and Iran," wrote Sen . Lois Kolkhorst (R) following the passage of her legislation by a vote of 19-12 in the state Senate on April 26.
According to a 2022 threat assessment report from the Office of the Director of National Intelligence (ODNI), China, Russia, Iran and North Korea pose the biggest threats to US national security. The report says that the CCP presents "the broadest, most active, and persistent cyber espionage threat to the U.S. Government and private sector networks."
The Texas bill, SB 147, was introduced last November by Kolkhorst, and has the support of Gov. Greg Abbott (R). That said, the language of the original bill was toned down following criticism from some Democrats and locals over the bill banning property purchases of any individual who is "a citizen of China, Iran, North Korea, or Russia."
In the final draft, the ban does not apply to lawful permanent residents, US citizens or dual citizens.
The property which the bill applies to includes agricultural land, improvements, mines and quarries, mineral deposits, and standing timber.