What this bill does
AI plain-language summaryThis bill changes the rules about foreign investors who buy or own farmland in the United States. Right now, foreign investors must report their farmland holdings to the Department of Agriculture, and there is a limit on how much they can be fined for breaking those rules. This bill removes that cap and lets the Department of Agriculture decide the fine amount, except that foreign-owned shell companies with little or no real business activity would be fined the full value of the farmland. The bill also requires the Department of Agriculture to check at least 10% of reports each year, train state and county staff, and send Congress a yearly report on foreign investment in U.S. farmland.
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