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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCongress Mulls Limits on Foreign Ownership of Farmland
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/
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Politico: The push to drain Chinas influence from the U.S. economy has reached Americas 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 nations economic reliance on China, especially in key industries like food, semiconductors and minerals deemed crucial to the supply chain.
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PortTack
(32,793 posts)They grow the thirsty crop alfalfa and then export it home...NO!!
FoxNewsSucks
(10,435 posts)Buckeyeblue
(5,502 posts)Wounded Bear
(58,706 posts)they decry the effects of foreign immigrants, yet allow foreign money free rein in our economy.
Sogo
(4,992 posts)Iowa
HISTORY
Iowa Code §§ 567: Transferred to Chapter 91 in 2002
Nonresident aliens and foreign businesses cant 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 § 558.43: Repealed in 2016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 govt 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 cant 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
(3,622 posts)Venezuelans, Colombians and Mexicans are buying up agricultural land like there's no tomorrow. All speculators and land banking..