What this bill does
AI plain-language summaryThis bill increases penalties for foreign investors who don't properly report when they buy or own U.S. farmland. Currently, penalties can't be more than 25% of the land's value, but this bill removes that limit so the Agriculture Department can set higher penalties. Foreign-owned shell corporations (companies with little or no real business operations) would face penalties equal to 100% of the land's value, though they can avoid this if they fix their paperwork within 60 days of being notified. The bill also requires the Agriculture Department to audit at least 10% of these reports each year, train state and county workers, and study foreign investment in U.S. farmland.
Introduced
February 26, 2025
Policy Area
Agriculture and Food
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