Sec. 12304. Digitization and consolidation of foreign land ownership data collection and publication
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In this section: The term agricultural land has the meaning given the term in section 781.2 of title 7, Code of Federal Regulations (as in effect on the date of enactment of this Act). The term database means the database developed under subsection (c). The term foreign person has the meaning given the term in section 9 of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3508 ). Not later than 3 years after the date of enactment of this Act, the Secretary shall establish a streamlined process for electronic submission and retention of disclosures made pursuant to the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3501 et seq. ).
Not later than 3 years after the date of enactment of this Act, the Secretary shall develop a database of agricultural land owned by foreign persons, using data that are collected— pursuant to the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3501 et seq. ); and from— FSA–153 forms submitted to the Farm Service Agency; or the electronic system established pursuant to subsection (b). Each entry in the database for each registration or updated registration of agricultural land owned or leased by a foreign person shall include pertinent information, as determined by the Secretary, in the applicable filing, except it shall not include the name of the filer and the purchase or lease price of such transaction.
Not later than 180 days after the database is made publicly available, and annually thereafter, the Chief of Operations for Investigative Actions appointed under section 4 of the Agricultural Foreign Investment Disclosure Act of 1978 (as amended by section 12303(a)) shall— conduct an audit of the database; and submit to the appropriate committees of Congress a report— evaluating the accuracy of the database; and describing recommendations for improving compliance with the reporting required under the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3501 et seq. ).
Out of the funds of the Commodity Credit Corporation, the Secretary shall use $10,000,000, to remain available until expended, to carry out the requirements of this section. Section 773 of division A of the Consolidated Appropriations Act, 2023 ( Public Law 117–328 ) is repealed.
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Sec. 12304
Digitization and consolidation of foreign land ownership data collection and publication
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