Bill > HB4233

This bill aims to prohibit foreign entities, particularly those from specific countries of concern like China, Russia, Iran, and others, from purchasing farmland in Michigan. The legislation establishes a comprehensive framework restricting foreign principals from acquiring agricultural land, with some narrow exceptions. Foreign entities that already own agricultural land on the effective date of the bill can maintain their current holdings but cannot purchase additional land. Exceptions to the prohibition include land acquired through inheritance (which must be sold within two years), land obtained through debt collection processes, and limited acquisitions for agricultural research and development (up to 350 acres). Foreign principals are required to register their existing agricultural land with the secretary of state within 60 days and provide detailed information about the property. If a foreign entity violates these restrictions, the attorney general can initiate legal action, potentially resulting in the land being declared escheated to the state and sold, with proceeds distributed according to a specific priority. The bill defines "foreign principal" broadly, including governments, political parties, and corporations from specified countries of concern, and imposes civil fines for non-compliance. Importantly, the bill does not invalidate land titles due to violations by previous owners, and its enforcement is limited solely to the entity acquiring the agricultural land.