Bill
LB 476
Bill 9 SummaryMain Purpose and Intent:- Provides exemptions under the Foreign-owned Real Estate National Security Act for certain aliens who acquire property interests while author
Main Purpose and Intent:
- Provides exemptions under the Foreign-owned Real Estate National Security Act for certain aliens who acquire property interests while authorized to work in the United States.
Key Provisions:
- Clarifies that property interests acquired by aliens authorized to work in the U.S. are not subject to the Foreign-owned Real Estate National Security Act.
- Specifies that these aliens are not in violation of the Act, even if they later meet the definition of a non-resident alien.
Affected Parties:
- Aliens who acquire property interests while authorized to work in the U.S.
- The enforcement and administration of the Foreign-owned Real Estate National Security Act.
Procedural/Timeline Aspects:
- The bill has been introduced and is currently scheduled for a hearing on February 25, 2025.
Compiled from official sources — confirm details with the bill’s official record.
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