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SCS/HCS/HBs 903, 465, 430 & 499 - Currently, no more than 1% of the total aggregate agricultural acreage in the state can be owned by a foreign entity. This act prohibits a foreign entity 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 a foreign entity 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 creates a definition of "nonfarming", as described in the act, with respect to current provisions regarding foreign-owned agricultural land being used for nonfarming purposes. This act is substantially similar to SCS/SBs 332, 334, SB 541 & SB 144 (2023), similar to SB 791 (2022), HB 1947 (2022), SB 243 (2021), HB 1136 (2021), HB 1492 (2020). JULIA SHEVELEVA
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