Real Property - As enacted, makes changes to law regarding restrictions on land purchases by sanctioned aliens or foreign entities. - Amends TCA Title 66, Chapter 2, Part 3.

SB 2233 tightens Tennessee's restrictions on foreign-owned entities purchasing land. It lowers the ownership threshold requiring review from 33% to 10% for agricultural land and 50% to 33% for non-agricultural land. The bill defines "prohibited foreign parties" more broadly (including entities under U.S. sanctions) and sets a 60-day compliance deadline after designation or acquisition. It exempts entities approved by U.S. national security reviews (like CFIUS) from these restrictions. The law applies to both agricultural and non-agricultural land purchases by sanctioned foreign entities.