SB2233 amends Tennessee land purchase restrictions to redefine prohibited foreign parties and interests.

SB2233 modifies Tennessee Code Annotated, Title 66, Chapter 2, Part 3, to redefine "prohibited foreign-party-controlled business" and lower the threshold for prohibited interests in land. It specifies that a business is controlled by a prohibited foreign party if they hold a controlling or significant interest or exercise substantial control. The bill also reduces the threshold for prohibited interests in land from 33% to 10% and from 50% to 33%.

SB2233 amends Tennessee land purchase restrictions to redefine prohibited foreign parties and interests.

SB2233 modifies Tennessee Code Annotated, Title 66, Chapter 2, Part 3, to redefine "prohibited foreign-party-controlled business" and lower the threshold for prohibited interests in land. It specifies that a business is controlled by a prohibited foreign party if they hold a controlling or significant interest or exercise substantial control. The bill also reduces the threshold for prohibited interests in land from 33% to 10% and from 50% to 33%.