How HR 4362 changes current law

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill adds a reporting requirement for foreign persons with a minimum ownership of 1 percent in agricultural land and modifies enforcement provisions.

• 7 U.S.C. 3501

  (g) Minimum Ownership.--In the case of agricultural land in which more than 1 foreign person acquires or transfers any interest, other than a security interest, the reporting requirements under this section shall apply to each foreign person who holds at least a 1 percent interest in that land-- (1) directly through the first tier of ownership; or (2) in the aggregate through an interest in other entities at various tiers.

  This establishes a new reporting requirement for foreign persons with at least a 1 percent ownership interest in agricultural land.

• 7 U.S.C. 3503

  The Secretary → SEC. 4. INVESTIGATIVE ACTIONS. (a) In General.--The Secretary

  This revises the section heading and introductory text to clarify the focus on investigative actions.

• 7 U.S.C. 3503

  (b) Actions by FPAC-BC.--As part of the actions taken under subsection (a), the Farm Production and Conservation Business Center shall-- (1) take such actions as are necessary to validate the data collected under section 2, including revising and validating information throughout the data collection process; (2) take such actions as are necessary to ensure compliance with section 2(g); and (3) in coordination with the Farm Service Agency, to the maximum extent practicable, identify persons that have carried out an activity subject to a civil penalty described in paragraph (1) or (2) of section 3(a).

  This adds specific responsibilities for the Farm Production and Conservation Business Center in validating data and ensuring compliance.