About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 1 (March 4, 2024)

handle is hein.crs/goveoms0001 and id is 1 raw text is: Congressional ______ R' fesearch Service Foreign Ownership of U.S. Real Property: Developments in Shen v. Simpson March 4, 2024 As described in this CRS Legal Sidebar, lawmakers have considered and promoted various legislative options to restrict ownership of land by certain foreign entities. One such law, Florida's SB 264, establishes certain land ownership restrictions pertaining to foreign entities associated with certain countries of concern. This country list includes the People's Republic of China (PRC), the Russian Federation, and the Islamic Republic of Iran, among others. SB 264 creates further restrictions specifically for the PRC and associated entities. In February 2024, the U.S. Court of Appeals for the Eleventh Circuit (Eleventh Circuit) granted, in part, a motion for an injunction pending appeal filed by a group of PRC citizens and a Florida corporation challenging SB 264 on various grounds. The scope of the ruling is limited, with the court restricting SB 264 from being enforced against two of the plaintiffs while the court reviews a lower court decision against such an enforcement limitation against all of the plaintiffs while their case proceeds in court. In reaching this decision, however, the court concluded that the plaintiffs would likely prevail in their argument that SB 264 is preempted by federal law. This Legal Sidebar summarizes the status of this action and potential related considerations for Congress. Enforcement of SB 264 Against Two Plaintiffs Preliminarily Enjoined Pending Appeal Following Florida's passage of SB 264, several plaintiffs, including PRC citizens with interests in Florida property, challenged the state law on various grounds, including violations of equal protection under the U.S. Constitution and preemption under federal regimes governing foreign affairs, foreign investment, and national security. After the federal district court denied a preliminary injunction motion to ban enforcement of SB 264 against the plaintiffs during the pendency of their legal challenge, the plaintiffs appealed to the Eleventh Circuit. The Eleventh Circuit's February 2024 order granting, in part, the plaintiffs' motion for an injunction pending appeal grounds the court's reasoning in the belief that plaintiffs showed a substantial likelihood of success as to the claim that portions of SB 264 are preempted by 50 U.S.C. § 4565, including the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). These laws authorize the activities of the Committee on Foreign Investment in the Congressional Research Service https://crsreports.congress.gov LSB11120 CRS Legal Sidebar Prepared for Members and Committees of Congress

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Already a HeinOnline Subscriber?

Log In

profiles profiles most