H.R. 2124: Land And National Defense Act

This bill, titled the Land And National Defense Act, aims to regulate the sale of agricultural land to foreign buyers in a specific way. Here are the key points of what the bill proposes:

Restrictions on Foreign Purchasers

The bill requires that when agricultural land is sold, foreign purchasers must adhere to the same rules that apply to U.S. citizens and nationals in their respective home countries. Specifically:

• Foreign buyers will face the same restrictions that a U.S. citizen would face in purchasing agricultural land in their home country.
• They must also comply with any applicable state laws regarding the purchase of agricultural land.

Determination of Home Countries

The bill outlines how to determine the "home country" of foreign purchasers for applying these restrictions:

• For dual citizens, the home country is considered to be the country other than the United States that has the most restrictive purchasing laws.
• For non-U.S. citizens, the home country is the one where the purchaser is a citizen, or if multiple, the one with the most restrictive laws.
• For companies, the home country is based on the laws of the country whose citizens own at least 5% of the company.
• For foreign governments, the country they represent is their home country.

Notification Requirements

Sellers of agricultural land to foreign purchasers are required to inform the Secretary of Agriculture of such transactions. The Secretary must then notify:

• The U.S. Senators from the state where the land is located.
• The U.S. Representative from the Congressional District in which the land is located.

Establishment of a Task Force

The bill establishes a U.S. Land Protection Task Force to monitor compliance with the new regulations. The task force will be led by the Secretary of Agriculture and will include representatives from:

• The Committee on Foreign Investment in the United States.
• The National Security Division of the Department of Justice.
• The Secretary of State.

This Task Force will report to Congress every six months about the sale of agricultural land to foreign purchasers, including data on:

• The percentage of agricultural land sold to foreign buyers.
• The states where such sales occurred.
• The average price of sold land.
• The historical title of the parcels sold.
• Whether any purchased land is within 100 miles of a military installation.

Severability Clause

The bill includes a severability clause stating that if any part of the Act is found to be invalid or unconstitutional, the rest of the Act will remain in effect.

Definitions

The bill defines two key terms:

• Agricultural land: As defined in previous legislation (the Agricultural Foreign Investment Disclosure Act of 1978).
• Foreign purchaser: This includes both foreign persons (as defined by existing law) and U.S. citizens who are also citizens of another country.

Relevant Companies

None found