Congress Mulls Limits on Foreign Ownership of Farmland

[applegrove]

Congress Mulls Limits on Foreign Ownership of Farmland

July 19, 2021 at 1:00 pm EDT By Taegan Goddard 17 Comments

https://politicalwire.com/2021/07/19/bipartisan-support-for-limits-on-foreign-ownership-of-farmland/

"SNIP.....

Politico: “The push to drain China’s influence from the U.S. economy has reached America’s farm country, as congressional lawmakers from both parties are looking at measures to crack down on foreign purchases of prime agricultural real estate.”

“The debate over farm ownership comes amid broader efforts by Congress and the Biden administration to curb the nation’s economic reliance on China, especially in key industries like food, semiconductors and minerals deemed crucial to the supply chain.”

......SNIP"

[PortTack]

1. Should have done that a little no time ago. It's part of the water woes in AZ

They grow the thirsty crop alfalfa and then export it home...NO!!

[FoxNewsSucks]

2. I don't think there should be any foreign ownership

[Buckeyeblue]

3. Each state should have a limit based on percentage of total farmland

[Wounded Bear]

4. Long overdue...

they decry the effects of foreign immigrants, yet allow foreign money free rein in our economy.

[Sogo]

5. Iowa does not allow foreign ownership of farmland.

Iowa
HISTORY
Iowa Code §§ 567: Transferred to Chapter 91 in 2002

Nonresident aliens and foreign businesses can’t own or purchase agricultural land; there are a few exceptions
Id. § 558.43: Repealed in 2016

Definitions of agricultural land and foreign business
CURRENT LAWS
ICA §9I.:

A nonresident alien, foreign business or foreign gov’t cannot acquire or purchase land in the state (unless it was acquired before 1980)
Exceptions:

Agricultural land acquired by devise or descent; taken to secure a debt; to collect a debt (must be disposed of within 2 years); acquired for research or experimental use; testing, developing or producing seeds; lessees of land (leases can’t be for more than 12 years); interest in land up to 320 acres for immediate or pending use (up to 5 years from the date of purchase/acquisition) other than farming (pending development it can be used for farming in certain circumstances if its leased to a permissible party)
If land is acquired by devise or descent or the owner becomes a nonresident, they must divest within 2 years
Owners have to report land ownership/purchase within 60 days of acquisition to the secretary of state; owners must report before March 31 each year on ag land pending non-farming use
Enforcement:

If in violation, the secretary of state reports to the attorney general who notifies the courts of the county in which the land is located. No more than $2000 in fines.

[bluecollar2]

6. Too late here in South Florida

Venezuelans, Colombians and Mexicans are buying up agricultural land like there's no tomorrow. All speculators and land banking..