Agricultural Foreign Investment Information Act

Summary

Agricultural Foreign Investment Information Act - Requires a report to the Secretary of Agriculture, containing legal name, address, citizenship, type of interest, legal description of the land involved, and other specified information, from any foreign person (including individuals, organizations, governments, or any combination thereof) who holds, acquires, transfers, or accepts transference of any interest, other than a security interest, in agricultural land. Directs the Secretary: (1) to develop and distribute a standard report form to facilitate automated data processing, analysis, and reporting of the information gathered; (2) to analyze such information to determine the trends and the actual and potential effects that the acquisition, transferring, and holding of agricultural lands in the United States by foreign persons have on the agricultural industry, the national economy, and the foreign relations of the United States; and (3) to report his findings and conclusions to the President and to the appropriate committees of Congress. Directs the Secretary to require the Office of Inspector General to conduct periodic studies to determine the reliability of information gathered pursuant to this Act. Establishes a civil penalty for violation of any provision of this Act in an amount not to exceed 25 percent of the fair market value of the land interest involved on the date of the penalty assessment.

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1 official file

• Introduced in Senate

  summary · EN · 3 August 1978

  Open at official source

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