What is the official ID of this bill?

The official print number for this legislation is HR 3996.

When did the legislative process begin?

The process officially started on 2023-06-09.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/118/bills/hr3996/BILLS-118hr3996ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

Who is the primary sponsor?

The primary sponsor is Rep. Van Duyne, Beth [R-TX-24].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Analysis and Potential Impact of HR 3996

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Tax on Foreign Acquisition of US Agricultural Land

Q: What are the main provisions?

Key points include: Imposition of a 60% tax on the acquisition of U.S. agricultural land by individuals and entities from 'countries of concern'. Definition of 'countries of concern' includes China, Russia, Iran, North Korea, Cuba, and Venezuela. Mandatory reporting of such transactions to the tax authorities, with penalties for non-compliance. The goal is to limit foreign influence on U.S. agriculture and food security.

New rules impose a high tax on the acquisition of U.S. agricultural land by individuals and entities from countries deemed a threat to U.S. security. This aims to protect national security and food resources by limiting foreign influence over critical economic sectors.

Key points

Imposition of a 60% tax on the acquisition of U.S. agricultural land by individuals and entities from 'countries of concern'.

Definition of 'countries of concern' includes China, Russia, Iran, North Korea, Cuba, and Venezuela.

Mandatory reporting of such transactions to the tax authorities, with penalties for non-compliance.

The goal is to limit foreign influence on U.S. agriculture and food security.

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Status:

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Additional Information

To amend the Internal Revenue Code of 1986 to impose a tax on the acquisition of United States agricultural interests by disqualified persons.

Print number: HR 3996

Sponsor: Rep. Van Duyne, Beth [R-TX-24]

Process start date: 2023-06-09

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

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Tax on Foreign Acquisition of US Agricultural Land

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