Increased Penalties for Undisclosed Foreign Farmland Investments
This new law increases financial penalties for not disclosing foreign investments in U.S. agricultural land, especially when "shell corporations" are used. It aims to improve transparency and food supply security, as well as protect local family farms. Citizens can expect better oversight of who owns agricultural land in the U.S.
Key points
Penalties for undisclosed foreign agricultural land investments can reach 100% of the land's fair market value, particularly for shell corporations.
Mandatory annual audits of 10% of foreign agricultural investment reports will be conducted to ensure accuracy.
The Department of Agriculture will research the impact of foreign investments on family farms and food supply.
Funding is provided for training state and county personnel to better identify unreported foreign investments.
Status:
Expired
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