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Committee approves tighter limits on restricted foreign land ownership in HB 291
Summary
The committee unanimously recommended HB 291 as amended, which lowers the foreign-ownership threshold from 51% to 25%, authorizes Department of Public Safety inquiries, imposes a $500 daily noncompliance fine, and allows state action to divest restricted land holdings.
Representative Perucci presented House Bill 291, which strengthens Utah's restrictions on land acquisitions by restricted foreign entities. The sponsor told the committee the bill lowers the ownership threshold from 51% to 25%, requires the Department of Public Safety to notify suspected entities and give them 30 days to respond, and…
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