Protecting U.S. farm ground from foreign purchases, that is the goal of a new legislation introduced.
The Security and Oversight of International Land Holdings, or SOIL Act, was introduced by two Oklahoma Senators as an effort to provide transparency for U.S. ag land purchases that could threaten national security. Oklahoma Senator James Lankford says, “We need to know who is buying our land, how they are using it, and if any criminal activity is occurring.” He voiced his concern over illegal drug trafficking.
The SOIL Act requires a committee to review foreign purchases, bans federal assistance for certain foreign-held real estate holdings, and broadens disclosure requirements.
