Iowa Governor Kim Reynolds (R) signed into law new reporting requirements and harsher penalties related to foreign land ownership in Iowa.
“With this bill our message is unmistakable: American soil belongs in American hands,” said Reynolds.
The law (Senate File 2204) grants the Iowa attorney general more powers related to foreign land ownership. Those powers include the ability to subpoena foreign landowners for financial records and land purchase agreements for investigations into potential violations of foreign farmland owner restrictions.
Foreign landowners would be required to provide details to the state about their land owned in other states if it’s more than 250 acres. It also requires the Iowa Secretary of State to file an annual report on foreign farmland ownership in Iowa for consideration by state officials.
The law also raises fines on violations of reporting requirements. Failing to report holdings every two years would be up to $10,000 per violation for foreign landowners, and failure to disclose leases or purchases of farmland by foreign entities would be fined up to 25% of the property’s value per violation, which is a potentially much higher rate than the previous $2,000 fine maximum per violation.
“Adversaries like China have grown significantly more aggressive on the world stage, constantly looking for any opening to assert themselves at the expense of our country. One all-too-common weapon in this battle is the purchase of American farmland. Our state’s fertile soil and unmatched production capacity make us a natural target for this strategy. Our farm families produce 10 percent of the nation’s food supply and Iowa ranks as America’s top producer of biofuels. That makes us a natural leader in the race to stave off the evolving threat to American agriculture,” said Reynolds.
In March, Indiana Gov. Eric Holcomb (R) signed House Bill 1183 into law that prohibits adversarial countries, such as China, Russia, Iran, North Korea, Cuba, and Venezuela, from owning or leasing farmland in Indiana. The bill, introduced by State Rep. Kendell Culp (R-Rensselaer), also prohibits China, Russia, Iran, and North Korea from buying any real estate within 10 miles of a military installation in Indiana. The law takes effect in Indiana on July 1, 2024.
Sources: Office of Iowa Gov. Kim Reynolds, NAFB News Service
