House Bill 984

AN ACT TO ESTABLISH THE "LIBERTY FOR OUR AGRICULTURAL LAND ACT"; TO PROVIDE THAT CERTAIN COMPANIES OWNED, IN WHOLE OR IN PART, BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY MAY NOT OWN, LEASE, POSSESS OR EXERCISE ANY CONTROL OVER MORE THAN 100 ACRES OF REAL ESTATE IN THIS STATE; TO PROVIDE THAT ANY DEED FOR ANY REAL ESTATE CONVEYANCE EXCEEDING 100 ACRES IN WHICH THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY OR ITS MEMBERS ARE THE RECIPIENT IS DEEMED INVALID; TO AMEND SECTION 29-1-75, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. This act shall be known and may be cited as the "Liberty for Our Agricultural Land Act."

SECTION 2. (1) Any company or development owned or controlled by a company that is owned, in whole or in part, by, or is a subsidiary of, a company that is owned by the People's Republic of China or the Chinese Communist Party or whose principal place of business is located within the People's Republic of China may not own, lease, possess or exercise any control over more than one hundred (100) acres of real estate in this state.

(2) For purposes of this section:

(a) "Chinese Communist Party" includes all agencies, institutions, and instrumentalities of the Chinese Communist Party.

(b) "Company" or "development" means a sole proprietorship, organization, association, corporation, partnership, trust, venture, group, subgroup or any other entity or organization, its subsidiary or affiliate that exists for-profit-making purposes or to otherwise secure economic advantage.

(c) "People's Republic of China" includes all agencies, institutions, instrumentalities and political subdivisions of the People's Republic of China.

(2) The People's Republic of China or the Chinese Communist Party and its members may not own real property in this state in excess of the amount authorized under subsection (1) of this section. A deed for any real estate conveyance exceeding the amount authorized under subsection (1) of this section in which the People's Republic of China or the Chinese Communist Party or its members are the recipient is deemed invalid.

SECTION 3. Section 29-1-75, Mississippi Code of 1972, is amended as follows:

29-1-75. (1) Except as otherwise provided in this section and in Section 2 of this act, neither a corporation nor a nonresident alien, nor any association of persons composed in whole or in part of nonresident aliens, shall directly or indirectly purchase or become the owner of any of the public lands; and every patent issued in contravention hereof shall be void.

(2) (a) A banking corporation owning such tax-forfeited lands or holding a mortgage or deed of trust thereon at the time of the sale to the state, and whose mortgage or deed of trust is still in force and effect, may purchase such lands, regardless of acreage, owned by it as aforesaid or on which it held a mortgage or deed of trust. In the event of a purchase by such corporation as a mortgagee, such lands shall be held for the benefit of the mortgagor subject to all the terms and conditions of the mortgage or deed of trust held by the purchasing banking corporation and, upon payment of the debt secured by such mortgage or deed of trust, together with interest and incidents, such banking corporation shall in that event reconvey such lands to the original mortgagor, his heirs or assigns.

(b) Any other nonbanking corporation may purchase lands sold or forfeited to the state for delinquent taxes under any section of Chapter 1, Title 29, specifically relating to the sale of such tax-forfeited lands by the Secretary of State. A nonbanking corporation purchasing land sold or forfeited to the state shall be subject to the acreage limitations of Section 29-1-73.

(c) Except as otherwise provided in Section 2 of this act, nonresident aliens may acquire and hold not to exceed three hundred twenty (320) acres of public lands in this state for the purpose of industrial development thereon, provided that such nonresident alien was in ownership possession of such public land before July 1, 2023. In addition, any nonresident alien may acquire and hold not to exceed five (5) acres of public lands for residential purposes. If any land acquired by a nonresident alien for the purpose of industrial development ceases to be used for industrial development, it shall escheat to the public body that sold such land to the nonresident alien.

(3) This section shall stand repealed on July 1, 2026.

SECTION 4. This act shall take effect and be in force from and after July 1, 2023.