SB 519

Generally, the federal Agricultural Foreign Investment Disclosure Act requires foreign persons who obtain agricultural land in the U.S. to report such acquisition to the secretary of agriculture. T his bill requires foreign persons who are subject to the reporting requirements of the federal Agricultural Foreign Investment Disclosure Act to also file a copy of the report with the commissioner of agriculture. This bill requires the commissioner to n o tify the attorney general of a foreign person's failure to file a copy of the report, whereupon the attorney general: (1) Is required to impose a civil penalty not to exceed 25% of the fair market value, on the date of the assessment of the penalty, of the interest in the agricultural land for such failure to file the report with the commissioner; and (2) Is authorized to bring suit to collect the civil penalty in the circuit court of any county in which any portion of the agricultural land acquired is located. The provisions of this bill expire upon the repeal of the federal Agricultural Foreign Investment Disclosure Act. This bill authorizes the commissioner of agriculture to promulgate rules to effectuate its purposes. ON MARCH 27, 2025, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 219, AS AMENDED. AMENDMENT #1 authorizes, instead of requires, the attorney general to seek and collect a civil penalty not to exceed 25% of the fair market value, on the date of the assessment of the pen alty, of the interest in the agricultural land for such failure to file the report with the commissioner as required under the bill.