This bill strengthens oversight of foreign ownership of agricultural land in the United States by expanding reporting requirements and enforcement mechanisms under existing law. The legislation lowers the reporting threshold so that any foreign person holding at least one percent interest in agricultural land must disclose this ownership, including indirect holdings through multiple layers of corporate entities. The bill requires the Department of Agriculture to share detailed foreign investment data with the Committee on Foreign Investment in the United States within one year, establish new validation procedures for reported information, and update its guidance handbook on foreign investment disclosure by the same deadline. Additionally, the department must analyze establishing a streamlined electronic reporting system for foreign investment disclosures and report back to Congress on implementation timelines. These changes aim to give the federal government better visibility into foreign agricultural land ownership for national security purposes.
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