SB 1244 - The act modifies provisions relating to foreign ownership of agricultural land. The act repeals the provision allowing foreign ownership of agricultural land if the total foreign-owned agricultural acreage does not exceed 1% of the total agricultural land in the state. The act further repeals the provision stating that foreign transfers of agricultural land must be submitted to the Director of the Department of Agriculture for review.
Under the act, no alien or foreign business shall acquire agricultural land in the state after August 28, 2024.
After August 28, 2024, all proposed transfers of agricultural land held by any alien or foreign business in the state shall be submitted at least 30 calendar days prior to when such transfers of agricultural land are finalized to the Department of Agriculture to determine whether such transfers are conveyed in accordance with the prohibition on foreign ownership of agricultural land in the state under this act.
This act is identical to SCS/SBs 332 & 334, 541 & 144 (2023), SB 791 (2022), HB 1947 (2022), SB 243 (2021), HB 1136 (2021), HB 1492 (2020), substantially similar to a provision in CCS/SS/SCS/HCS/HB 903, 465, 430 & 499 (2023), similar to a provision in SB 9 (2023).
JULIA SHEVELEVA