Foreign Acquisition of Agricultural Land Monitoring Act

Summary

Foreign Acquisition of Agricultural Land Monitoring Act - Requires a report to the Secretary of Agriculture from any foreign person (including individuals, organizations, and governments or governmental instrumentalities) who owns an interest in United States agricultural land acquired after December 31, 1969. Requires such report to: (1) state the amount of such land and its location; (2) describe the nature of the interest; (3) list the agricultural purposes for which such land was used; and (4) specify any percentage of such foreign person owned by individuals, organizations, or governmental instrumentalities of foreign countries other than the foreign person's place of organization or principal place of business. Establishes a civil penalty for violation of any provisions of this Act in an amount not to exceed 20 percent of the fair market value of the interest, on the date on which such interest was acquired. Requires the Secretary to submit an annual report to Congress about the acquisition by foreign persons of interests in agricultural land situated in the United States.

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1 official file

• Introduced in House

  summary · EN · 24 July 1978

  Open at official source

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