H3408

Prohibits companies owned by U.S.-declared foreign adversaries from owning or controlling real estate in South Carolina.

This bill amends South Carolina law to prohibit companies owned by U.S.-declared foreign adversaries from owning, leasing, possessing, or controlling any real estate in the state. The bill defines "foreign adversary" to include entities from China, Russia, Iran, and North Korea. It allows the state to acquire such properties without payment, voids any transactions involving these entities, and permits legal actions to eject them from possession. The state may hold or dispose of these properties as it sees fit. The act takes effect upon approval by the Governor and applies after 2025.