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Ban on New Corporate Ownership of Farmland to Protect Family Farms.

This law aims to protect family farms by prohibiting large corporations, investment funds, and pension funds from acquiring new agricultural land. The restriction is designed to stabilize land prices, making it easier for independent farmers to purchase property and secure long-term food production. Strict penalties, including fines and potential imprisonment, are established for violations.
Key points
Large corporations and investment funds are banned from acquiring new agricultural land; ownership is reserved for natural persons actively engaged in farming or authorized farmer cooperatives.
The goal is to curb rising land prices caused by corporate speculation, helping independent and young farmers afford land and build generational wealth.
Strict civil penalties (up to twice the land's value) and criminal penalties are established for knowing violations, and states are authorized to implement even stricter regulations.
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Additional Information
Print number: 118_S_2583
Sponsor: Sen. Booker, Cory A. [D-NJ]
Process start date: 2023-07-27
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Farmland for Farmers Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2583.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Large corporations and investment funds are banned from acquiring new agricultural land; ownership is reserved for natural persons actively engaged in farming or authorized farmer cooperatives.
  • The goal is to curb rising land prices caused by corporate speculation, helping independent and young farmers afford land and build generational wealth.
  • Strict civil penalties (up to twice the land's value) and criminal penalties are established for knowing violations, and states are authorized to implement even stricter regulations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Booker, Cory A. [D-NJ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Agriculture Real Estate Economy