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03/29/2024 07:31 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=37022
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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: March 11, 2022 02:35 PM
From: Representative Anthony M. DeLuca
To: All House members
Subject: Protecting Pennsylvania Real Estate from Money Laundering
 
In recent months, I have been made aware of several LLCs with ties to foreign entities, including those with ties to Russia, buying up property in western Pennsylvania, Ohio, and other states. These properties are often neglected or remain empty for long periods of time. Several local government officials and constituents in my district have alerted me to these neglected properties in their neighborhoods.  
 
Since the outrageous Russian invasion of Ukraine began, I have also seen several news stories that describe how Russian oligarchs launder their money by purchasing large amounts of real estate here in the U.S. 
 
As a result, I intend to introduce legislation which would require municipalities to file a report with the Office of the Attorney General when a company purchases five or more properties within a six-month period. This will allow the Attorney General to investigate further or forward the information to the proper federal authorities.  
 
We cannot allow these activities to continue uninvestigated. Please join me in protecting our communities.  



Introduced as HB2512