| 1 | 1 | | FIRSTREGULARSESSION |
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| 2 | 2 | | HOUSEBILLNO.672 |
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| 3 | 3 | | 103RDGENERALASSEMBLY |
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| 4 | 4 | | INTRODUCEDBYREPRESENTATIVECHRISTENSEN. |
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| 5 | 5 | | 1882H.01I DANARADEMANMILLER,ChiefClerk |
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| 6 | 6 | | ANACT |
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| 7 | 7 | | Torepealsection442.571,RSMo,andtoenactinlieuthereofonenewsectionrelatingto |
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| 8 | 8 | | foreignownershipofagriculturalland. |
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| 9 | 9 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
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| 10 | 10 | | SectionA.Section442.571,RSMo,isrepealedandonenewsectionenactedinlieu |
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| 11 | 11 | | 2thereof,tobeknownassection442.571,toreadasfollows: |
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| 12 | 12 | | 442.571.1.Exceptasprovidedinsections442.586and442.591,[noalienorforeign |
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| 13 | 13 | | 2businessshallacquirebygrant,purchase,devise,descentorotherwiseagriculturallandinthis |
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| 14 | 14 | | 3stateifthetotalaggregatealienandforeignownershipofagriculturalacreageinthisstate |
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| 15 | 15 | | 4exceedsonepercentofthetotalaggregateagriculturalacreageinthisstate.Asaleortransfer |
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| 16 | 16 | | 5ofanyagriculturallandinthisstateshallbesubmittedtothedirectorofthedepartmentof |
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| 17 | 17 | | 6agricultureforreviewinaccordancewithsubsection3ofthissectiononlyifthereisno |
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| 18 | 18 | | 7completedInternalRevenueServiceFormW-9signedbythepurchaser] beginningAugust |
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| 19 | 19 | | 828,2025,noalienorforeignbusinessshallacquirebygrant,purchase,devise,descent, |
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| 20 | 20 | | 9orotherwiseanyagriculturallandinthisstate.Anyalienorforeignbusinesswho |
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| 21 | 21 | | 10acquiredanyagriculturallandinthisstatepriortoAugust28,2025,shallnotgrant,sell, |
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| 22 | 22 | | 11orotherwisetransfersuchagriculturallandtoanyotheralienorforeignbusinessonor |
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| 23 | 23 | | 12afterAugust28,2025. Nopersonmayholdagriculturallandasanagent,trustee,orother |
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| 24 | 24 | | 13fiduciaryforanalienorforeignbusinessinviolationofsections442.560to442.592, |
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| 25 | 25 | | 14provided,however,thatnosecurityinterestinsuchagriculturallandshallbedivestedor |
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| 26 | 26 | | 15invalidatedbysuchviolation. |
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| 27 | 27 | | 16 2.Anyalienorforeignbusinesswhoacquiresagriculturallandinviolationof |
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| 28 | 28 | | 17sections442.560to442.592remainsinviolationofsections442.560to442.592foraslongas |
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| 29 | 29 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 30 | 30 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18[heorshe]thealienorforeignbusinessholdsaninterestintheland,provided,however,that |
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| 31 | 31 | | 19nosecurityinterestinsuchagriculturallandshallbedivestedorinvalidatedbysuchviolation. |
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| 32 | 32 | | 20 3.Subjecttotheprovisionsofsubsection1ofthissection,[such] allproposed |
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| 33 | 33 | | 21[acquisitions] transfersonorafterAugust28,2025,bygrant,purchase,devise,descent,or |
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| 34 | 34 | | 22otherwiseofanyinterestinagriculturallandheldbyanyalienorforeignbusinessinthis |
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| 35 | 35 | | 23stateshallbesubmittedtothedepartmentofagriculturetodeterminewhethersuch |
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| 36 | 36 | | 24[acquisition] transferofagriculturallandisconveyedinaccordancewiththe[onepercent |
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| 37 | 37 | | 25restrictiononthetotalaggregate] prohibitiononalienandforeignownershipofagricultural |
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| 38 | 38 | | 26landinthisstateunderthissection. Thedepartmentshallestablishbyruletherequirements |
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| 39 | 39 | | 27forsubmissionandapprovalofrequestsunderthissubsection. |
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| 40 | 40 | | 28 4.(1)Aforeignbusinessthatholdsanyinterestinagriculturallandshalldivest |
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| 41 | 41 | | 29suchinterestinsuchagriculturallandbeforeAugust28,2030. |
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| 42 | 42 | | 30 (2)Thedepartmentofagricultureshall: |
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| 43 | 43 | | 31 (a)Compilealistofagriculturallandinwhichaforeignbusinessholdsan |
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| 44 | 44 | | 32interest; |
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| 45 | 45 | | 33 (b)NotifyeachsuchforeignbusinessbeforeJanuary1,2026,thatsuchforeign |
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| 46 | 46 | | 34businessisrequiredunderthissectiontodivestanyinterestinagriculturallandbefore |
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| 47 | 47 | | 35August28,2030,andthatfailuretodivestsuchinterestshallbereportedasaviolation |
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| 48 | 48 | | 36undersection442.576; |
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| 49 | 49 | | 37 (c)Trackthedivestingofallinterestsinagriculturallandlistedunderthis |
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| 50 | 50 | | 38subsection;and |
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| 51 | 51 | | 39 (d)OnAugust28,2030,reportanyfailuretodivestsuchinterestasaviolation |
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| 52 | 52 | | 40undersection442.576. |
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| 53 | 53 | | 41 (3)Thissubsectionshallnotbeconstruedtorequireanyforeignbusinessto |
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| 54 | 54 | | 42divestsuchinterestinagriculturallandforlessthanfairmarketvalue. |
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| 55 | 55 | | 43 (4)Noforeignbusinessholdinganinterestinagriculturallandthatappearson |
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| 56 | 56 | | 44thedepartment'slistcompiledundersubdivision(2)ofthissubsectionshallbereported |
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| 57 | 57 | | 45foraviolationundersection442.576unlesssuchforeignbusinessfailstodivestand |
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| 58 | 58 | | 46continuestoholdsuchinterestonAugust28,2030. |
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| 59 | 59 | | 47 5.Anyruleorportionofarule,asthattermisdefinedinsection536.010,thatis |
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| 60 | 60 | | 48createdundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifitcomplies |
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| 61 | 61 | | 49withandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section536.028. |
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| 62 | 62 | | 50Thissectionandchapter536arenonseverableandifanyofthepowersvestedwiththe |
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| 63 | 63 | | 51generalassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto |
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| 64 | 64 | | 52disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof |
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| 65 | 65 | | HB672 2 53rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2014,shallbeinvalid |
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| 66 | 66 | | 54andvoid. |
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| 67 | 67 | | âś” |
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| 68 | 68 | | HB672 3 |
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