Florida adopts law introducing restrictions of investment and acquiring certain land from selected countries
08 May 2023
On 8 May 2023, the Florida Senate Bill 264 was signed into law. The law provides for restrictions for persons and entities from "foreign countries of concern", which are P.R. China, the Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Republic of Cuba, the Bolivarian Republic of Venezuela, and the Syrian Arab Republic.
It prohibits those subjects from having a controlling interest, directly or indirectly owning, in or acquiring by the aforementioned methods any interest in agricultural land, property near military installations or critical infrastructure facilities in Florida after 1 July 2023. Additionally, it precludes the State Government from contracting with persons from foreign countries of concern and from providing any economic incentives.
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Type:
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Entry and establishment (Ownership and control, Access to land)
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Treatment and operation (Operational conditions )
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Promotion and facilitation (Investment incentives)
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Industry:
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Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of chemicals and chemical products)
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Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Transportation and storage, Telecommunications, Real estate activities)
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