Houses passes bill limiting foreign ownership of land and property

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A bill that would limit certain foreign entities from leasing or buying property in Louisiana has won approval in the state House of Representatives. HB 537 comes from Livingston Parish Republican Rep. Valarie Hodges, who call the bill a “Louisiana sovereignty bill”…:

“There should be great concern to all of us about the future of our children and our grandchildren, when our recognized enemies are purchasing major assets,” says Hodges.

The bill would ban agents of China, Cuba, Iran, North Korea, Venezuela or Russia from buying and titling property in the state. In committee, many Asian Americans voiced worries the bill would limit their ability to buy land or businesses here. Hodges says the bill isn’t concerned with persons or small businesses…:

“We’re addressing corporations who are trying to buy critical infrastructure and our farmland.”

The help clarify the language, Houma Republican Rep. and Speaker Pro Tem Tanner McGee offered an amendment…:

“It just says ‘no party shall be held liable to a transaction, unless they knew – or should have known – they were entering into a transaction with a foreign adversary,” said McGee.

With amendments approved, the bill passed by a 78-to-22 vote (pretty much down party lines). HB 537 moves now to the Senate.

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