States mull bans as China-linked farmland buyers seek federal regulation clarity.
Concerns Over Chinese Ownership of US Farmland Prompt State Lawmakers to Take Action
Lawmakers in 35 states are considering bills to address the growing issue of companies and investors from the People’s Republic of China (PRC) purchasing farmland in the United States. Currently, there are no federal laws regulating foreign land ownership, and only 24 states have statutes related to this issue.
However, change may be on the horizon. The Senate recently voted 91-7 to include the proposed Promoting Agriculture Safeguards and Security Act (PASS Act) as an amendment to the National Defense Authorization Act. This bill, introduced by Sens. Jon Tester and Mike Rounds, would prohibit businesses or individuals from China, Iran, North Korea, and Russia from buying agricultural land in the US.
The PASS Act would provide clarity for the 26 states without laws addressing foreign land ownership. However, it only applies to entities from the four “adversary” nations, specifically targeting farmland and not addressing renting or leasing of land.
Texas Law Sets an Example
The Lone Star Infrastructure Protection Act, passed in Texas in 2021, served as inspiration for other lawmakers. This law was enacted after concerns arose over a Chinese company’s acquisition of 140,000 acres of land in Val Verde County. The proposed wind farm on the property raised national security concerns.
Montana Senate President Pro Tem Sen. Ken Bogner, who introduced a bill in Montana to prohibit foreign “adversaries” from buying, leasing, or renting land near critical infrastructure, cited the Texas law as a blueprint for his own legislation.
The Murky Trail of Foreign Land Ownership
While there is a growing number of bills addressing foreign land ownership in various states, there are still many challenges and inconsistencies. Each state has its own definitions and restrictions, making it difficult to create a cohesive national policy.
The PASS Act aims to address these issues by clarifying definitions and enrolling the US Department of Agriculture as a standing member of the Committee on Foreign Investment in the United States (CFIUS).
However, panelists and state lawmakers agree that the PASS Act alone is not sufficient. There are still no federal policies regarding foreign ownership of residential properties, which raises concerns about Chinese buyers purchasing homes near military bases and critical infrastructure.
Panelists suggest adopting a “Know Your Customer” rule similar to the one used by the Financial Industry Regulatory Authority (FINRA) to track land purchases and ensure transparency.
Conclusion
The issue of Chinese ownership of US farmland has become a hot topic among state lawmakers. While the PASS Act is a step in the right direction, there is still a need for comprehensive federal policies to address foreign land ownership and protect national security.
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