Ban on Chinese-Affiliated Entities Owning U.S. Agricultural Land.
This legislation prohibits entities affiliated with the People's Republic of China or the Chinese Communist Party from acquiring or leasing U.S. agricultural land, including farms, ranches, and food processing facilities. The goal is to safeguard domestic food security and critical resources. Existing owners must divest their holdings within two years, and employees of these specific foreign entities will have their noncompete agreements voided, increasing their job flexibility.
Key points
Prohibits corporations and individuals linked to the Chinese government from buying or leasing U.S. agricultural, timber, or food processing land.
Requires existing foreign owners (covered entities) to sell their agricultural land within 2 years, facing daily fines and potential criminal penalties or forfeiture.
Noncompete agreements signed by employees of these foreign entities regarding agricultural land are immediately nullified, boosting labor mobility.
Expired
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