Bill > S845

This bill amends the Agricultural Foreign Investment Disclosure Act of 1978 to strengthen oversight and reporting of foreign ownership of agricultural land in the United States. The bill introduces several key provisions: First, it removes existing limitations on civil penalties for non-compliance, and establishes a particularly stringent penalty for foreign-owned shell corporations, which would be subject to a civil penalty equal to 100 percent of the fair market value of the agricultural land in question. The bill also requires the Secretary of Agriculture to conduct annual compliance audits of at least 10 percent of submitted reports and provide annual training to state and county personnel to help identify unreported foreign land ownership. Additionally, the bill mandates new annual reporting to Congress on foreign agricultural leasing activities, trends in agricultural land purchases by shell corporations, and foreign ownership of agricultural production capacity. The legislation includes a provision allowing shell corporations to remedy defective or missing filings within 60 days of receiving notice, and authorizes $2 million in appropriations annually from 2025 to 2030 to support these new requirements. The overall goal appears to be increasing transparency and monitoring of foreign investments in U.S. agricultural land.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/845/all-info