Amends TCA Title 4, Chapter 3, Part 20 and Title 66, Chapter 2.

AGRICULTURAL AND CRITICAL INFRASTRUCTURE PROTECTION ACT This bill enacts the Agricultural and Critical Infrastructure Protection Act, which prohibits a business entity or individual from entering into an agreement relating to agricultural land in this state with individuals who are citizens of China, Iran, North Korea, Russia, or a country designated by the governor as a threat to critical infrastructure or agricultural land ("designated country"). Further, the act prohibits a business entity from entering into an agreement relating to critical infrastructure or agricultural land in this state with a company under the following circumstances: (1) If, under the agreement, the company would be granted direct or remote access to or control of critical infrastructure or agricultural land in this state, excluding access specifically allowed by the business entity for product warranty and support purposes; and (2) If the business entity knows that the company is (i) owned by or the majority of stock or other ownership interest of the company is held or controlled by individuals who are citizens of China, Iran, North Korea, Russia, or a designated country, or a company or other entity, including a governmental entity, that is owned or controlled by citizens of or is directly controlled by the government of China, Iran, North Korea, Russia, or a designated country; or (ii) headquartered in China, Iran, North Korea, Russia, or a designated country. This bill provides that the prohibitions above apply regardless of whether the company's or its parent company's securities are publicly traded, or the company or its parent company is listed on a public stock exchange as a Chinese, Iranian, North Korean, or Russian company, or a company of a designated country. This bill authorizes the governor, after consultation with the commissioner of the department of safety, to designate a country as a threat to critical infrastructure or agricultural land for purposes of this bill. The governor must consult with the Tennessee office of homeland security to assess a threat to critical infrastructure or agricultural land for purposes of making a designation under this bill. RESTRICTIONS ON LAND PURCHASES BY SANCTIONED ALIENS OR ENTITIES Present law generally prohibits a sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, from purchasing or otherwise acquiring real property in this state if the country where the sanctioned nonresident alien resides, the sanctioned foreign business is located, or the official sanctioned foreign government representing the country, or agents, trustees, or fiduciaries thereof, is on the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list. Present law also requires a sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, who owns an interest in real property in this state on or after July 1, 2023, to register the real property with the secretary of state. If the secretary of state finds that a sanctioned nonresident alien, sanctioned foreign business, sanctioned foreign government, or an agent, trustee, or other fiduciary thereof, has acquired or holds title to or interest in real property in this state in violation of present law, then the secretary of state must report the violation to the attorney general. Upon receipt of a report from the secretary of state as described above, the attorney general must initiate an action in the circuit court of any county in which the real property is located. If the court finds that the real property in question has been acquired or held in violation of present law, then the court must enter an order so declaring, file a copy of the order with the recorder of deeds of each county in which any portion of the real property is located, declare the real property escheated to the state, and order the sale of the real property in the manner provided by law for the foreclosure of a mortgage on real estate for default of payment. The proceeds of the sale must be used to pay court costs, and the remaining funds, if any, must be paid to the person divested of the real property. As used in present law, "real property" means one or more defined parcels or tracts of land or interests, benefits, and rights inherent in the ownership of real estate, including easements, water rights, agricultural land, or any other interest in real property. This bill removes agricultural land from the application of this definition and this present law.