S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5301
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2023
                                ___________
 
 Introduced  by  M.  of A. SLATER, GANDOLFO, E. BROWN, BRABENEC, BENDETT,
   LEMONDES, TAGUE, MAHER,  DURSO,  GRAY,  BEEPHAN,  MIKULIN,  DeSTEFANO,
   MANKTELOW -- read once and referred to the Committee on Judiciary
 
 AN  ACT  to  amend the real property law, in relation to prohibiting the
   acquisition of real property by  foreign  countries  and  entities  of
   particular concern
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 10 of the real property law, as amended by  chapter
 272  of the laws of 1944, subdivision 2 as amended by chapter 669 of the
 laws of 2022, and subdivision 3 as added by chapter 740 of the  laws  of
 1954, is amended to read as follows:
   §  10.  Capacity  to  hold  real  property. 1. A citizen of the United
 States is capable of holding real property within  this  state,  and  of
 taking the same by descent, devise or purchase.
   2.  Noncitizens, OTHER THAN THOSE PROHIBITED UNDER SUBDIVISION FOUR OF
 THIS SECTION, are empowered to take, hold, transmit, and dispose of real
 property within this state in the same manner  as  native-born  citizens
 and their heirs and devisees take in the same manner as citizens.
   3.  For the purpose of maintaining offices and places of residence for
 its ambassadors and consular officers and for its representatives at the
 United Nations, a foreign government, OTHER THAN THOSE PROHIBITED  UNDER
 SUBDIVISION  FOUR  OF  THIS  SECTION, is empowered to hold, transmit and
 dispose of real property within this state. Title to such  property  may
 be  taken either in the name of the foreign government or in the name of
 its ambassador or consul or in the name of its minister  to  the  United
 Nations.  If  a  conveyance of real property is made to an ambassador or
 consul or minister of a foreign government as such, or  contains  appro-
 priate  words  showing  the intention to vest the title in the holder of
 the office rather than in the named individual, the title  to  the  real
 property  shall pass from time to time without any further conveyance to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08872-01-3
              

 A. 5301                             2
 
 the respective successors in such office, who shall have full  power  to
 dispose of such property.
   4.  ON  AND AFTER THE EFFECTIVE DATE OF THE CHAPTER OF THE LAWS OF TWO
 THOUSAND TWENTY-THREE THAT AMENDED THIS SECTION, THE FOLLOWING  NONCITI-
 ZENS,  FOREIGN  GOVERNMENTS,  AND  FOREIGN  ENTITIES SHALL NOT TAKE REAL
 PROPERTY WITHIN THIS STATE AND SHALL ONLY TRANSFER OR  DISPOSE  OF  REAL
 PROPERTY  WITHIN  THIS STATE TO A PERSON OR ENTITY ELIGIBLE TO TAKE SUCH
 REAL PROPERTY UNDER THIS SECTION:
   (A)  A GOVERNMENTAL ENTITY OF A FOREIGN COUNTRY OF PARTICULAR  CONCERN
 OR  AN  ENTITY OF PARTICULAR CONCERN, AS IDENTIFIED BY THE UNITED STATES
 DEPARTMENT OF STATE;
   (B)  A COMPANY OR OTHER ENTITY THAT IS OWNED BY  OR  THE  MAJORITY  OF
 STOCK  OR  OTHER  OWNERSHIP INTEREST OF WHICH IS HELD OR CONTROLLED BY A
 COMPANY OR ENTITY THAT IS:
   (I)  HEADQUARTERED IN ANY FOREIGN COUNTRY OF  PARTICULAR  CONCERN,  AS
 IDENTIFIED BY THE UNITED STATES DEPARTMENT OF STATE;
   (II)    DIRECTLY OR INDIRECTLY HELD OR CONTROLLED BY THE GOVERNMENT OF
 ANY FOREIGN COUNTRY  OF  PARTICULAR  CONCERN  OR  ENTITY  OF  PARTICULAR
 CONCERN, AS IDENTIFIED BY THE UNITED STATES DEPARTMENT OF STATE; OR
   (III)    OWNED BY OR THE MAJORITY OF STOCK OR OTHER OWNERSHIP INTEREST
 OF WHICH IS HELD OR CONTROLLED BY INDIVIDUALS WHO ARE  CITIZENS  OF  ANY
 FOREIGN COUNTRY OF PARTICULAR CONCERN OR MEMBERS OF AN ENTITY OF PARTIC-
 ULAR CONCERN, AS IDENTIFIED BY THE UNITED STATES DEPARTMENT OF STATE; OR
   (C)   AN INDIVIDUAL WHO IS A CITIZEN OF ANY FOREIGN COUNTRY OF PARTIC-
 ULAR CONCERN OR IS A MEMBER OF AN ENTITY OF PARTICULAR CONCERN, AS IDEN-
 TIFIED BY THE UNITED STATES DEPARTMENT OF STATE.
   § 2. If any clause, sentence, paragraph, section or part of  this  act
 shall  be  adjudged by any court of competent jurisdiction to be invalid
 and after exhaustion of all further judicial review, the judgment  shall
 not  affect,  impair  or  invalidate the remainder thereof, but shall be
 confined in its operation to the clause, sentence, paragraph, section or
 part of this act directly involved in the controversy in which the judg-
 ment shall have been rendered.
   § 3.  This act shall take effect immediately.