Bill > HB315

This bill addresses the acquisition of agricultural land in Kentucky by foreign entities, particularly those associated with countries referenced in a specific federal regulation. The legislation prohibits nonresident aliens, foreign businesses, foreign agents, trustees, or fiduciaries connected to certain proscribed countries from purchasing, leasing, or acquiring agricultural land in Kentucky or participating in agricultural programs. Entities with existing national security agreements may purchase up to 350 acres for agricultural research or experimental purposes. Foreign entities can own agricultural land for non-agricultural development, but must complete the development within five years and can only lease the land for farming during that period. The bill requires these foreign entities to file reports with the Department of Agriculture and maintains compliance through investigative and enforcement mechanisms. If a violation is found, the agricultural land can be escheated to the state through a judicial foreclosure process, with proceeds distributed in a specific order: first covering litigation costs, then paying delinquent taxes, satisfying mortgage and lien holders, and finally depositing remaining funds in the budget reserve trust fund. The bill aims to protect Kentucky's agricultural interests and prevent potentially problematic foreign land acquisitions while providing some flexibility for legitimate business and research purposes.

Agriculture and Natural Resources

https://apps.legislature.ky.gov/record/25RS/hb315.html