relative to restrictions on acquisition of ownership, controlling, and occupancy interests in real property by certain foreign principals on or around certain military installations, and criminal penalties and civil forfeiture procedures for illegal acquisition.

SB 162 requires anyone leasing or buying property within 10 miles of a military installation to file a notarized affidavit confirming they are not a foreign government, foreign entity, or agent. This applies to all property transactions, with the affidavit due within one business day of closing or key delivery. Failure to file incurs a $500 civil penalty, with a 60-day cure period for individuals (no cure period for entities). The bill also mandates that sellers/landlords provide written notice of this requirement to buyers/tenants before signing agreements.