IA
Iowa Senate Bill SSB3113

Iowa 2023-2024 Regular Session

Iowa Senate Bill SSB3113

Introduced
1/25/24  
Introduced
1/25/24  

Caption

A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties.(See SF 2204.)

Impact

The implications of this bill are significant as it establishes new registration and biennial reporting requirements for foreign ownership of agricultural land. This action comes in response to increasing concerns regarding the environmental, economic, and food security risks associated with foreign control over domestic agricultural resources. The revisions to existing laws also empower the Attorney General to enforce compliance through inquiries and investigations, thereby enhancing state oversight and regulatory authority over foreign land investments.

Summary

Senate Study Bill 3113 aims to regulate the acquisition and holding of agricultural land by foreign entities, including foreign businesses, governments, and nonresident aliens. The bill mandates that such foreign persons must register their interests in agricultural land with the Secretary of State, including providing detailed information about their identity, purpose of business in Iowa, and specific land holdings. This requirement extends to agents, trustees, or fiduciaries acting on behalf of foreign entities. Previously existing regulations have been modified to restore registration requirements that had been suspended.

Contention

Debate over SSB3113 centers on the balance between protecting Iowa's agricultural interests and ensuring that foreign investors are not unduly restricted from acquiring land. Supporters argue that the measures are necessary for maintaining state sovereignty over land ownership and preventing potential adverse effects on local agriculture and economies. Conversely, critics of the bill might contend that stringent regulations could deter foreign investment, which is vital for agricultural innovation and financial stability. The highlighted penalties for non-compliance with registration and reporting may also raise concerns regarding their proportionality and enforcement.

Latest SSB3113 Activity

Companion Bills

IA SF2204

Replaced by A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties. (Formerly SSB 3113.) Effective date: 07/01/2024.

IA HSB663

Related A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties.(See HF 2483.)

IA HF2483

Replaced by A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties.(Formerly HSB 663.)

Similar Bills

MS SB2519

Mississippi Foreign Land Ownership Act; create.

MS HB1284

Mississippi Foreign Land Ownership Act; create to prohibit acquisition of forestry and agricultural lands.

MS SB2473

Land ownership; prohibit nonresident alien ownership of.

MS HB348

"Mississippi Agricultural Land Protection and Foreign Acquisition Prohibition Act"; establish to prohibit sales of ag lands to foreign.

IA SF2204

A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties. (Formerly SSB 3113.) Effective date: 07/01/2024.

IA HF2483

A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties.(Formerly HSB 663.)

GA HB1093

Agriculture; prohibit acquisition of possessory interest in certain land by certain foreign persons and entities

IA HSB663

A bill for an act relating to interests in agricultural land acquired or held by foreign businesses, foreign governments, or nonresident aliens, or by agents, trustees, or fiduciaries thereof, by providing for registration and reporting requirements, providing for enforcement, and providing penalties.(See HF 2483.)