A bill to require foreign persons who acquire, transfer, or hold interests in agricultural land to report such transactions and holdings to the Secretary of Agriculture and to direct the Secretary to analyze information contained in such reports and determine the effects such transactions and holdings have, particularly on family farms and rural communities, and for other purposes.
Agricultural Foreign Investment Disclosure Act - Requires a report to the Secretary of Agriculture, containing legal name, address, citizenship, type of interest, and legal description of the land involved and other specified information, from any foreign person (including individuals, organizations, governments, or any combination thereof) who holds, acquires, or transfers any interest, other than a security interest, in agricultural land.
Establishes a civil penalty for violation of any provision of this Act in an amount not to exceed 25 percent of the fair market value of the land interest involved on the date of the penalty assessment.
Requires the Secretary to report to the President and to Congress an analysis of the information obtained by him pursuant to this Act, and a determination of the effects of foreign holdings, acquisitions, and transfers on family farms and rural communities.
Measure laid on table in House, S. 3384 passed in lieu.
Introduced in Senate
Referred to Senate Committee on Agriculture, Nutrition and Forestry.
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