H.R. 6580 — LAND Act

This bill requires that a foreign purchaser of agricultural land be subject to the same restrictions and limitations as a U.S. citizen or national would be subject to when purchasing agricultural land in the foreign purchaser's home country. The bill applies to all foreign purchasers, including U.S. citizens who are also a citizen of one or more other countries (e.g., a dual citizen). For a foreign company purchasing agricultural land, a country is treated as the company's home country if (1) it has the most restrictive laws with respect to the purchasing of agricultural land, and (2) the citizens of the country hold at least 5% of the company. The seller of the agricultural land to a for...