Bill Addresses Concerns Over Foreign Ownership of Farmland

By Andi Anderson

U.S. Senator Sherrod Brown (D-OH) collaborates with a bipartisan group to introduce the Agricultural Foreign Investment Disclosure Act Improvements Act of 2024, aiming to shed light on foreign adversaries acquiring farmland in Ohio and enhance reporting and enforcement of foreign ownership of agricultural land in the United States. The bill seeks to address outdated laws and loopholes that allow foreign entities to conceal their identities and the true extent of the problem. 

Total feedlot inventory stands at 11.9 million head, exceeding year-ago levels since October. Increased live cattle imports, particularly from Mexico, contribute to this trend. Senator Brown, known for his efforts to protect Ohio farmland from foreign adversaries, highlights the importance of updating rules to expose foreign entities owning agricultural land across the country. 

The bill builds on Brown's previous work to prevent foreign adversaries, including China, Russia, Iran, and North Korea, from gaining influence near U.S. military installations. The legislation strengthens the Agricultural Foreign Investment Disclosure Act (AFIDA) based on recommendations from a recent U.S. Government Accountability Office (GAO) report, revealing gaps in how the U.S. Department of Agriculture (USDA) tracks foreign investments. 

According to USDA data from December 2021, foreign investors own approximately 40.8 million acres of U.S. agricultural land. The AFIDA Improvements Act of 2024 addresses these concerns by streamlining data sharing, modernizing the AFIDA Handbook, implementing current law, improving data verification and monitoring, and identifying suspected non-filers. 

Ohio Farm Bureau Federation's Executive Vice President, Adam Sharp, applauds Senator Brown's bipartisan efforts, emphasizing the need for attention to foreign ownership of farmland in Ohio and the U.S. 

The AFIDA Improvements Act, Senator Brown introduced the Farm Credit for Americans Act in September 2022, aiming to prevent foreign individuals from obtaining credit and financial services through the Farm Credit System. The bill targets eligibility criteria for credit through this government-sponsored enterprise, limiting access for certain foreign individuals and entities. 

Photo Credit: farm-credit