To amend the Agricultural Foreign Investment Disclosure Act of 1978 to increase the minimum amount of a civil penalty imposed for violating such Act, and for other purposes.

Bill: 118-hr-1789
Sponsor: full_name: Rep. Miller, Mary E. [R-IL-15]
Introduced: 2023-03-24
Policy area: Agriculture and Food
Latest action: action_date: 2023-03-24
text: Referred to the House Committee on Agriculture.

Summaries:
action_date: 2023-03-24
action_desc: Introduced in House
text: <p>This bill increases the minimum amount of a civil penalty for violating the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA). (The regulations that implemented AFIDA require foreign investors who acquire, transfer, or hold an interest in U.S. agricultural land to report such holdings and transactions to the Department of Agriculture.) </p> <p>The bill requires that any AFIDA civil penalty be at least 50% of the fair market value of the interest in the agricultural land associated with the violation. Current law prohibits the civil penalty from exceeding 25% of the fair market value of the interest in the land.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 1789 IN THE HOUSE OF REPRESENTATIVES March 24, 2023 Mrs. Miller of Illinois introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Agricultural Foreign Investment Disclosure Act of 1978 to increase the minimum amount of a civil penalty imposed for violating such Act, and for other purposes.

1. Increase in minimum amount of civil penalty imposed for violating AFIDA Section 3(b) of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3502(b) ) is amended by striking shall not exceed 25 percent and inserting shall be at least 50 percent .