The restriction on acquisition of agricultural lands by aliens.
Impact
If enacted, this bill will create the State Agricultural Foreign Investment Review Board, responsible for evaluating and approving applications for agricultural land acquisition by foreign entities. The board will consist of several key state officials and a gubernatorial appointee with expertise in security or foreign policy. This review process is intended to safeguard North Dakota's agricultural sector and state security, reflecting concerns over potential foreign dominance in critical agricultural resources.
Summary
House Bill 1356 aims to regulate foreign investment in agricultural lands within North Dakota by imposing restrictions on the acquisition of such lands by non-citizens and non-residents. The bill seeks to amend existing laws, specifically focusing on the criteria under which foreign nationals can acquire agricultural land. It outlines provisions that allow acquisitions only under certain conditions, such as being a permanent resident or residing in the state for a specified duration, thus ensuring that foreign investments align with state interests.
Contention
The potential contention surrounding HB 1356 may stem from discussions regarding the balance between encouraging foreign investment and protecting local agricultural interests. Supporters of the bill believe it is a necessary measure to manage foreign acquisitions, while critics may argue that such restrictions could deter beneficial investments that could contribute to local economies. Furthermore, questions may arise about the effectiveness of the review board and the criteria for approving applications, leading to debates about transparency and fairness in the evaluation process.
Agricultural definitions, ownership exceptions for beekeeping, agriculture support services, livestock backgrounding and feedlot operations, raising or producing of livestock by persons that have limited landholdings, and required reporting for corporate farming; to provide a penalty; and to declare an emergency.
Ownership of real property and commercial assets by foreign adversaries; to provide for a legislative management study; and to provide an expiration date.