Sec. 5. Agricultural foreign investment disclosure
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Section 9 of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3508 ) is amended— by redesignating paragraphs
(4)through
(6)as paragraphs
(5)through (7), respectively; and by inserting after paragraph
(3)the following: the term interest includes— a security interest; and a lease, without regard to the duration of the lease; . Section 2 of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3501 ) is amended by striking , other than a security interest, each place it appears. Section 3 of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3502 ) is amended— in subsection (b), by striking exceed 25 percent and inserting be less than 15 percent, or exceed 30 percent, ; and by adding at the end the following: On imposing a penalty under subsection (a), the Secretary shall ensure that a lien is placed on the agricultural land with respect to which the violation occurred, which shall be released only on payment of the penalty. . Section 7 of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3506 ) is amended to read as follows: The Secretary shall publish in the internet database established under section 742 of division B of the Consolidated Appropriations Act, 2024 ( 7 U.S.C. 3501 note; Public Law 118–42 ) human-readable and machine-readable data sets that— contain all data that the Secretary possesses relating to reporting under this Act from each report submitted to the Secretary under section 2; and as soon as practicable, but not later than 30 days, after the date of receipt of any report under section 2, shall be updated with the data from that report. The data sets established under subsection
(a)shall include— a description of— the purchase price paid for, or any other consideration given for, each interest in agricultural land for which a report is submitted under section 2; and updated estimated values of each interest in agricultural land described in subparagraph (A), as that information is made available to the Secretary, based on the most recently assessed value of the agricultural land or another comparable method determined by the Secretary; and with respect to any agricultural land for which a report is submitted under section 2, updated descriptions of each foreign person who holds an interest in at least 1 percent of the agricultural land, as that information is made available to the Secretary, categorized as a majority owner or a minority owner that holds an interest in the agricultural land. . Section 9(3) of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3508(3) ) is amended— in subparagraph (C)(ii)(IV), by striking and at the end; in subparagraph (D), by inserting and after the semicolon; and by adding at the end the following: any person, other than an individual or a government, that issues equity securities that are primarily traded on a foreign securities exchange within— Iran; North Korea; the People's Republic of China; or the Russian Federation; .
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- Pub. L. 118-42
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Sec. 5
Agricultural foreign investment disclosure
Pub. L.Pub. L. 118-42
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