I actually did look through the pdf earlier and I'll be the first to admit that, not being an attorney, there's too much legalese in there (e.g. more than in the "Don't Say Gay bill") and know there are nuances that I cannot discuss intelligently about. I didn't understand near all of it (e.g. WTF is "de minimus indirect interest").
However, to bring it into layman's terms, I looked at:
https://www.flsenate.gov/Session/Bil...ab=BillHistory (see View Bill Summary to the left)
You can see it talks about "foreign principals" and third bullet is pretty clear it is talking about non-citizens/PR.
In addition, I looked at an Axios article (which I believe is pretty reputable), which states below
Just a moment...
The article also references ACLU and Asian American Legal Defense Fund getting involved. There is no mention that they believe this proposal applies to US Citizens/PR.
So in summary - if your contention still is this applies to US citizens/PR of Chinese descent, I will avoid discussing this further as it's central to my POV that it does not. And I cannot see a way to convince you otherwise. If you are right, I agree this proposal is really bad and in all likelihood IMO, the courts will overturn it (e.g. courts are good to finetune vagaries in a bill, we are a lawsuit happy country).
However, if we can agree this does not apply to US citizens/PR, I'll be glad to continue the discussion.