Sponsors (3)
The bill increases transparency and enforcement of foreign holdings in U.S. agricultural land through reporting, audits, training, and dedicated funding, at the trade-off of steep penalties that may create large liabilities and deter investment plus added administrative and taxpayer costs.
Farmers, taxpayers, and government agencies will get stronger enforcement capacity: the bill requires annual audits (10% of reports) and provides $2 million per year (FY2025–2030) to implement audits, training, and research, which should improve accuracy of foreign-ownership records and compliance.
Rural communities and family farms will gain clearer information about foreign leasing and purchases of agricultural land through mandated research and annual congressional reports, improving transparency about who holds nearby agricultural land.
State and county officials will receive annual training to better identify unreported foreign-held agricultural land, strengthening local detection and enforcement capacity.
Owners of foreign-held land structured through 'shell' corporations face penalties equal to 100% of a parcel's fair market value, creating the risk of very large financial liabilities or forced divestment and likely prompting legal challenges and deterrence of legitimate foreign investment.
USDA and state/local officials will face increased administrative workload from more audits, training, and reporting requirements, raising implementation burdens and resource needs at federal and local levels.
The $2 million per year authorization (FY2025–2030) imposes a recurring federal cost that taxpayers ultimately fund and could divert funds from other priorities.
Based on analysis of 2 sections of legislative text.
Tightens disclosure and enforcement for foreign ownership of agricultural land by adding a 100% fair-market-value penalty for certain foreign-owned shell corporations, plus audits, training, reporting, and $2M/year authorization.
Creates stronger disclosure and enforcement rules for foreign ownership of U.S. agricultural land by adding a new civil penalty for certain foreign-owned "shell corporations," requiring regular compliance audits and training for state and county personnel, mandating annual congressional reporting on foreign agricultural investment and leasing, and authorizing $2 million per year for FY2025–2030 to implement these changes. The penalty equals 100% of the affected land’s fair market value unless defective filings are corrected within 60 days of notice.
Introduced February 26, 2025 by Marie Gluesenkamp Perez · Last progress February 26, 2025