Leasehold interests added to prohibition against acquisition of ownership interests by certain individuals, governments, political parties in agricultural, forest and other real property; adds companies, individuals on U.S. Treasury sanctions lists to sanctions list prohibition; specifies overall pertinence to property in the state

HB 68 expands the existing law that prohibits certain "foreign principals" from acquiring interests in agricultural, forest, and other real property within the state. The bill broadens the definition of a "foreign principal" to include any individual or company identified on the U.S. Department of the Treasury's sanctions lists. It also expands the types of prohibited acquisitions to include leasehold interests in addition to ownership or controlling interests. These new prohibitions on leasehold interests would apply to acquisitions made on or after August 1, 2025.