SCS/SBs 332 & 334 - Currently, no more than 1% of the total aggregate agricultural acreage in the state can be owned by an alien or foreign business. This act prohibits any alien or foreign business from acquiring agricultural land in the state after August 28, 2023. After August 28, 2023, all proposed transfers of any interest in agricultural land held by any alien or foreign business in the state shall be submitted at least 30 calendar days prior to when such transfers of such agricultural land are finalized to the Department of Agriculture to determine whether such transfers of agricultural land are conveyed in accordance with the prohibition on foreign ownership of agricultural land in the state under this act.
This act is identical to provisions in SCS/SBs 332 & 334, 541 & 144 (2023), SB 791 (2022), HB 1947 (2022), SB 243 (2021), HB 1136 (2021), HB 1492 (2020), substantially similar to a provision in CCS/SS/SCS/HCS/HB 903, 465, 430 & 499 (2023), similar to a provision in SB 9 (2023).
JULIA SHEVELEVA