On May 8, 2023, Florida Gov. Ron DeSantis signed into law Senate Bill (SB) 264 relating to interests of foreign countries. The new law, effective July 1, 2023, generally restricts the issuance of state-level government contracts or economic development incentives to, or real property ownership by certain individuals and entities associated with foreign “countries of concern.” According to the law, the foreign countries of concern include the People’s Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the Venezuelan regime of Nicolás Maduro, and the Syrian Arab Republic.
Florida Governor Signs Law Restricting Investment by Certain Foreign Entities and Individuals
