Kentucky Senate Bill 284

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Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on February 26 2024 - 25% progression
Action: 2024-02-28 - to Agriculture (S)
Pending: Senate Agriculture Committee
Text: Latest bill text (Introduced) [PDF]

Create new sections of KRS Chapter 381 to define terms; prohibit a foreign principal from acquiring or owning agricultural land; require a foreign principal that owns or acquires agricultural land before the effective date of this Act to register the ownership with the Department of Agriculture; require a purchaser of agricultural land to file an affidavit with the Department of Agriculture attesting that the purchaser is not a foreign principal; authorize the Department of Agriculture to promulgate regulations; prohibit a foreign principal from acquiring or owning real property on or within 10 miles of a military installation; require a foreign principal that owns or acquires real property on or within 10 miles of a military installation before the effective date of this Act, or that owns real property as authorized to register the ownership with the Cabinet for Economic Development; require a purchaser of real property located on or within 10 miles of a military installation to file an affidavit with the Cabinet for Economic Development attesting that the purchaser is not a foreign principal; authorize the Cabinet for Economic Development to promulgate regulations; authorize the Kentucky Real Estate Commission to establish regulations related to the affidavits required under this Act; establish procedures for the forfeiture of real property owned or acquired in violation of this Act; establish penalties for violations; amend KRS 381.320 to conform.

AN ACT relating to the acquisition and ownership of real property by a foreign principal.

Sen. George Wise [R]

Sen. Robert Mills [R]

Sen. Lindsey Tichenor [R]

Date	Chamber	Action
2024-02-28	Senate	to Agriculture (S)
2024-02-26	Senate	to Committee on Committees (S)
2024-02-26	Senate	introduced in Senate

Type	Source
Summary	https://apps.legislature.ky.gov/record/24RS/sb284.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb284/orig_bill.pdf
Supplement	https://apps.legislature.ky.gov/recorddocuments/note/24RS/sb284/LM.pdf
Supplement	https://apps.legislature.ky.gov/recorddocuments/note/24RS/sb284/CI.pdf