Protecting America’s Agricultural Land from Foreign Harm Act of 2023
If passed, SB926 would significantly alter existing laws related to land ownership and agricultural investment. It would prohibit not only foreign ownership but also participation in Department of Agriculture programs by these covered individuals or entities. This creates a more stringent regulatory framework aimed at safeguarding U.S. agricultural assets from foreign control, potentially reshaping the landscape of agricultural investment and ownership in rural America.
Senate Bill 926, known as the 'Protecting America’s Agricultural Land from Foreign Harm Act of 2023,' proposes to restrict the purchase or lease of agricultural land in the United States by individuals or entities associated with specific foreign governments. The bill specifically targets citizens and entities from Iran, North Korea, China, and Russia, defining them as 'covered persons.' This legislative proposal serves to enhance national security by preventing foreign adversaries from acquiring American agricultural resources, which some lawmakers perceive as a vulnerability in food security and sovereignty.
However, the bill has raised several points of contention. Critics argue that it may have unintended consequences on legitimate agricultural dealings and investment opportunities from non-hostile foreign entities. There are ongoing debates about the balance between national security and the need for an open market that welcomes foreign investment, particularly in agriculture, which has historically benefitted from global trade. Several stakeholders, including agricultural associations, may express concerns over the implications this bill could have for foreign investment and partnerships that are vital for agricultural innovation and sustainability.