Increased Transparency for Foreign Investment in Farmland
This act aims to increase transparency regarding foreign investment in U.S. agricultural land. It introduces stricter penalties for concealing ownership information, especially for shell corporations, and enhances oversight of who is buying and leasing farmland in the U.S. This is intended to help protect the domestic food supply and support local farms.
Key points
Penalties for hiding foreign ownership of farmland can now be 100% of the land's value, especially for shell corporations.
Increased oversight: The government will annually audit at least 10% of foreign agricultural land investment reports.
Improved reporting: The government will regularly inform Congress about foreign leasing activities, trends in land purchases by shell corporations, and foreign participation in agricultural production.
Support for local officials: Training will be provided to state and county personnel to help them identify unreported foreign agricultural land investments.
Status:
Introduced
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