Pipeline · Bill → Law
Step 1
Introduced
Mar 24, 2023
Step 2
Referred
Mar 24, 2023
Agriculture
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill increases the minimum amount of a civil penalty for violating the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA). (The regulations that implemented AFIDA require foreign investors who acquire, transfer, or hold an interest in U.S. agricultural land to report such holdings and transactions to the Department of Agriculture.) The bill requires that any AFIDA civil penalty be at least 50% of the fair market value of the interest in the agricultural land associated with the violation. Current law prohibits the civil penalty from exceeding 25% of the fair market value of the interest in the land.
Timeline · 2 actions
Mar 24, 2023
Introduced in House
Mar 24, 2023
Referred to the House Committee on Agriculture.