Rounds amendment would limit foreign ag land purchases
A similar statewide effort by Gov. Kristi Noem came up short last legislative session
An amendment passed Tuesday by the United States Senate would restrict four hostile countries from purchasing American farmland and agricultural businesses.
That amendment, carried by South Dakota Sen. Mike Rounds, sailed through the Senate in the annual National Defense Authorization Act (NDAA).
“This commonsense provision will make our homeland more secure,” Rounds said in a statement. “I am pleased this amendment was included in this year’s NDAA, and I look forward to working with my colleagues to move this legislation across the finish line.”
As written, Rounds’ amendment would restrict China, Russia, North Korea, and Iran from purchasing American ag land. Specifically, it would require review by the U.S. Committee on Foreign Investments (CFIUS) on purchases of more than 320 acres or land valued at more than $5 million.
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