Bill would prevent foreign banks from buying Montana homes
Photo illustration by Getty Images.
A bill to prevent foreign governments, banks and companies from buying up residential Montana land for sale at public auctions passed the state Senate on second reading, 47-to-2.
Senate Bill 306, sponsored by Sen. Ken Bogner, R-Miles City, would require an entity to prove they're based in the United States before a county treasurer is allowed to sell a residential tax lien.
'Montana lands and homes should belong to Montanans and Americans, not foreign entities,' Bogner said. 'Our tax deed process has left the door open for foreign entities to buy up property at the expense of Montanans.'
The bill would disallow foreign companies from buying Montana housing off auction. The changes would not apply to foreign individuals, Bogner said.
About 85,000 homes were sold nationally to non-Americans between April 2022 to March 2023, a drop of nearly 15% from the previous year, according to the National Association of Realtors.
Bogner brought a similar bill preventing 'adversarial' foreign governments and corporations from buying agricultural land during the 2023 Legislature. The law came in the wake of a Chinese balloon that floated across the country, capturing the nation's attention. It was passed and signed into law, directly targeting the governments of China, Cuba, Iran, North Korea, Russia, and Venezuela as well as corporations in those countries.
SB 306 expands on the 2023 bill and applies the ban to all foreign entities.
'Our property values are going up and up and it's harder and harder to purchase a home, pay property taxes,' Bogner told the Daily Montanan. 'We don't need foreign banks buying up property and making the problem worse.'
In 2021, about 916,000 acres of land in the state was owned by non-American entities, an increase of about 100,000 acres from the previous year.
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Military parade set to kick off in nation's capital as protesters around the country decry Trump
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Hamilton Spectator
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Military parade set to kick off in nation's capital as protesters around the country decry Trump
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Vendors outside the festival sold gear marking the military milestone. Others hawked Trump-themed merchandise. Trump has been wanting a military parade in Washington ever since he watched one in France in 2017 and his dream is set to be finally realized on a day that coincides with his 79th birthday. Doug Haynes, a Navy veteran who voted for Trump, attended the daylong festival to celebrate the Army's 250th birthday, but said that the parade scheduled for later 'was a little over the top.' Pointing at a nearby tank, Haynes said that having them roll down the street is a 'very bold statement to the world, perhaps.' The military procession was set to step off from the Lincoln Memorial later Saturday, under the threat of stormy weather and to the accompaniment of protests elsewhere in the city. Trump brushed off the possibility of both disruptions, with a social media post Saturday morning that said the 'great military parade' would be on 'rain or shine.' 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Ahead of a rally and march toward the White House on Saturday afternoon, about 200 protesters assembled in northwest Washington's Logan Circle and handed out signs and danced to upbeat music from a local street band, including 'This Land Is Your Land.' The mood was celebratory as the group chanted 'Trump must go now' before erupting in cheers. A larger-than-life puppet of Trump was wheeled through the crowd, a caricature of the president wearing a crown and sitting on a golden toilet. Other protesters waved pride flags and hoisted signs, some with pointed messages such as 'I prefer crushed ICE,' referring to the Immigration and Customs Enforcement agency. Other messages were: 'The invasion was HERE Jan. 6th, NOT in L.A.' and 'Flip me off if you're a FASCIST.' With rain expected, there was a chance the parade could be interrupted by thunderstorms. The Army expects as many as 200,000 people could attend the festival and parade. 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