Change provisions relating to real estate and the Foreign-owned Real Estate National Security Act

LB 7 requires buyers of specific real estate in Nebraska (defined by federal regulations) to submit an affidavit confirming they are not affiliated with a foreign government or entity designated as a "foreign adversary" under U.S. rules. The affidavit must be signed by the purchaser and submitted to the county register of deeds before a property transfer can be recorded, with the register forwarding a copy to the Attorney General. The bill defines key terms like "foreign corporation," "nonresident alien," and "restricted entity" (including those on U.S. sanctions lists) to clarify who must comply. Violating the affidavit by providing false information is a crime, but the law states such a violation does not invalidate the property title. The requirements apply to real estate transactions occurring on or after January 1, 2025.