Protecting Our Farms and Homes from China Act

This bill blocks covered foreign entities from buying or leasing U.S. farmland. Those that already have it must sell within one year, with a signed plan to sell due in 180 days. Violations can bring fines of $100 per acre per day, possible prison time up to five years, and loss of the land through forfeiture and public auction. Any noncompete agreements those entities have with their farm employees would be void. The Department of Agriculture must set up rules and an office to monitor and fine violators .

It also temporarily stops covered foreign entities from buying U.S. homes. They must sell any homes they already own within one year. The fine is $1,000 per day for each home kept in violation. The Attorney General can seize assets and seek court orders to enforce the law. The President can extend the purchase ban in two-year chunks. The Commerce Department must issue rules, set up an office to enforce them, and report to Congress on housing market effects after about 18 months .

• Who is affected: Covered foreign entities (as defined in the bill) .
• What changes for farmland: No new purchases or leases; current owners/lessees must sell within one year; noncompetes with farm workers are void; strong fines and possible criminal penalties; land can be taken and sold at public auction .
• What changes for homes: No purchases during the covered period; current owners must sell within one year; $1,000-per-day fines per home; possible asset seizures; the ban can be extended every two years; a market impact report is required .