Texas Senate Committee Holds Hearings on Property Ban BillMichael T. Jackson, SHRM-CP - Mar 07 2023
Worldwide ERC®’s public policy forums and its members have been monitoring SB 147 and have engaged a range of Texas-based stakeholders regarding the bill and its potential impacts.
On 2 March 2023, the Texas Senate Committee on State Affairs held public hearings on Senate Bill 147, which would implement restrictions on the ability of individuals and entities from four countries—China, Iran, North Korea, and Russia—from purchasing or being able to acquire a title for certain types of property in the state of Texas.
As it was originally introduced in November 2022, the bill would have broadly prevented any citizen of these countries from purchasing property, including residential homes for personal use. On 28 February, Senator Lois Kolkhorst (R-District 18) announced that she would be introducing a committee substitute to introduce a number of revisions, including:
- Clarifying that prohibitions do not apply to U.S. citizens or LPRs, including dual citizens;
- Specifying that real estate holding prohibitions do not include an individual’s “residence homestead”; and
- Refining the definition of “real property” under the bill to focus on land, an improvement, a mine or quarry, a mineral in place, or standing timber.
Under the revised bill, citizens of these four countries would still not be able to purchase property in Texas unless it falls under the “residence homestead” exemption outlined in the committee substitute. After six hours of public testimony, the Texas Senate Committee on State Affairs left the status of SB 147 as “pending” and did not take a vote on the bill.
Worldwide ERC®’s public policy forums and its members have been monitoring SB 147 and have engaged a range of Texas-based stakeholders regarding the bill and its potential impacts. Worldwide ERC will continue to track this bill throughout the remainder of the Texas legislative session.
Michael T. Jackson is the vice president of member engagement and operations for Worldwide ERC.