Florida Senate - 2024                                    SB 1480
       
       
        
       By Senator Torres
       
       
       
       
       
       25-00715-24                                           20241480__
    1                        A bill to be entitled                      
    2         An act relating to interests of foreign countries;
    3         amending s. 692.201, F.S.; defining the term
    4         “domicile”; amending s. 692.203, F.S.; revising
    5         requirements for a foreign principal who is a natural
    6         person to purchase residential real property; making
    7         technical changes; repealing s. 692.204, F.S.,
    8         relating to the purchase or acquisition of real
    9         property by the People’s Republic of China; providing
   10         an effective date.
   11          
   12  Be It Enacted by the Legislature of the State of Florida:
   13  
   14         Section 1. Present subsections (3) through (6) of section
   15  692.201, Florida Statutes, are redesignated as subsections (4)
   16  through (7), respectively, and a new subsection (3) is added to
   17  that section, to read:
   18         692.201 Definitions.—As used in this part, the term:
   19         (3) “Domicile” means the place where a person legally
   20  resides and which is his or her permanent home. For the purpose
   21  of this part, a person may establish domicile if a person
   22  resides in this state for 183 days or more.
   23         Section 2. Subsection (4) of section 692.203, Florida
   24  Statutes, is amended to read:
   25         692.203 Purchase of real property on or around military
   26  installations or critical infrastructure facilities by foreign
   27  principals prohibited.—
   28         (4) Notwithstanding subsection (1), a foreign principal who
   29  is a natural person may purchase one residential real property
   30  that is up to 2 acres in size if all of the following apply:
   31         (a) the parcel is not on or within 5 miles of any military
   32  installation in this state.
   33         (b) The person has a current verified United States Visa
   34  that is not limited to authorizing tourist-based travel or
   35  official documentation confirming that the person has been
   36  granted asylum in the United States, and such visa or
   37  documentation authorizes the person to be legally present within
   38  this state.
   39         (c) The purchase is in the name of the person who holds the
   40  visa or official documentation described in paragraph (b).
   41         Section 3. Section 692.204, Florida Statutes, is repealed.
   42         Section 4. This act shall take effect July 1, 2024.