Iowa wants to strengthen their foreign land ownership rules

The state of Iowa is looking to strengthen land ownership rules.

Governor Kim Reynolds, along with Ag Secretary Mike Naig, developed a bill to protect farmland from foreign buyers. The legislation will improve reporting and enforcement, increase penalties, and provide more transparency on what land is currently under foreign ownership.

The state of Oregon is looking to do the same after a recent data gap on foreign farmland purchases. A Singapore-based company, owned by a Chinese billionaire, purchased 200,000 Oregon acres in 2015, but the company’s holdings are not included in the 2021 foreign ownership data compiled through the USDA. Senator Jon Tester is calling for a review and the passage of his bill that would block adversaries from buying farmland.