(1) Except as provided in subsection (2) of this section, any nonresident alien, foreign corporation, or foreign government, or an agent, trustee, or fiduciary thereof:

(a) May purchase, acquire, hold title to, or be a lessor or lessee of as much real estate as shall be necessary for the purpose of (i) erecting on such real estate manufacturing or industrial establishments, and in addition thereto such real estate as may be required for facilities incidental to such establishments, or (ii) erecting and maintaining establishments primarily operated for the storage, sale, and distribution of petroleum products or hydrocarbon substances, commonly known as filling stations or bulk stations; and

(b) Shall not expand establishments or facilities purchased, acquired, held, or leased pursuant to subdivision (1)(a) of this section or build new such establishments or facilities if such nonresident alien, foreign corporation, or foreign government is a restricted entity, or an agent, trustee, or fiduciary thereof.

(2)(a) A restricted entity, or an agent, trustee, or fiduciary thereof, shall not purchase, acquire, hold title to, or be a lessor or lessee of real estate pursuant to subdivision (1)(a) of this section unless such restricted entity, or an agent, trustee, or fiduciary thereof, has received:

(i) A determination from the Committee on Foreign Investment in the United States that there are no unresolved national security concerns with respect to the real estate transaction and such restricted entity has not undergone a change in control constituting a covered control transaction, as defined in 31 C.F.R. 800.210, as such regulation existed on January 1, 2025, since such determination; or

(ii) A national security agreement with the Committee on Foreign Investment in the United States and maintains the validity of such national security agreement.

(b) A restricted entity, or an agent, trustee, or fiduciary thereof, who complies with the requirements of subdivision (2)(a)(i) or (ii) of this section shall annually certify such compliance to the Department of Agriculture on or before January 15, 2026, and on or before January 15 of each year thereafter.

(3) A restricted entity, or an agent, trustee, or fiduciary thereof, who violates this section shall be in violation of the Foreign-owned Real Estate National Security Act and subject to divestment as prescribed under section 76-3712.