An Act to require foreign persons who acquire, transfer, or hold interests in agricultural land to report such transactions and holdings to the Secretary of Agriculture and to direct the Secretary to analyze information contained in such reports and determine the effects such transactions and holdings have, particularly on family farms and rural communities, and for other purposes.
PL 95-460 (S.3384), enacted 10/14/1978

PUBLIC LAW 95-460—OCT. 14, 1978 
92 STAT. 1263 
Public Law 95-460 
95th Congress 
An Act 
To require foreign persons who acquire, transfer, or hold interests in agricultural 
land to report such transactions and holdings to the Secretary of Agriculture 
and to direct the Secretary to analyze information contained in such reports 
and determine the effects such transactions and holdings have, particularly on 
family farms and rural communities, and for otlier purposes. 
Be it enacted hy the Senate and House of Representatives of the 
United States of America in Congress assembled, 
SHORT TITLE 
SECTION 1. This Act may be cited as the "Agricultural Foreign 
Investment Disclosure Act of 1978". 
Oct. 14. 1978 
[S. 3384] 
Agricultural 
Foreign 
Investment 
Disclosure Act 
of 1978. 
7 u s e 3501 note. 
REPORTING REQUIREMENTS 
SEC. 2. (a) Any foreign person who acquires or transfers any 
interest, other than a security interest, in agricultural land shall sub-
mit a report to the Secretary of Agriculture not later than 90 days 
after the date of such acquisition or transfer. Such report shall be 
submitted in such form and in accordance with such procedures as 
the Secretary may require and shall contain— 
(1) the legal name and the address of such foreign person; 
(2) in any case in which such foreign person is an individual, 
the citizenship of such foreign person; 
(3) in any case in which such foreign person is not an individ-
ual or a government, the nature of the legal entity holding the 
interest, the country in which such foreign person is created or 
organized, and the principal place of business of such foreign 
person; 
(4) the type of interest in agricultural land which such 
foreign person acquired or transferred; 
(5) the legal description and acreage of such agricultural 
land; 
(6) the purchase price paid for, or any other consideration 
given for, such interest; 
(7) in any case in which such foreign person transfers such 
interest, the legal name and the address of the person to whom 
such interest is transferred and— 
(A) in any case in which such transferee is an individual, 
the citizenship of such transferee; and 
(B) in any case in which such transferee is not an individ-
ual or a government, the nature of the legal entity holding 
the interest, the country in which such transferee is created or 
organized, and the principal place of business of such 
transferee; 
(8) the agricultural purposes for which such foreign person 
intends, on the date on which such report is submitted to the 
Secretary, to use such agricultural land; and 
(9) such other information as the Secretary may require by 
regulation. 
Land interests, 
acquistions or 
transfers. 
7 use 3501. 
92 STAT. 1264 
PUBLIC LAW 95-460—OCT. 14, 1978 
(b) Any foreign person who holds any interest, other than a security 
interest, in agricultural land on the day before the effective date of this 
section shall submit a report to the Secretary not later than 180 days 
after such effective date. Such report shall be submitted in such form 
and in accordance with such procedures as the Secretary may require 
'''••• and shall contain— 
(1) the legal name and the address of such foreign person; 
.,,, 
(2) in any case in which such foreign person is an individual, 
the citizenship of such foreign person ; 
(3) in any case in which such foreign person is not an individ-
.
i
V
> ual or a government, the nature of the legal entity holding the 
•-.r 
. 
interest, the country in which such foreign person is created or 
• ^•~' 
organized, and the principal place of business of such foreign 
•' 
* 
person; 
~ " 
(4) the type of interest in agricultural land which is held by 
_ v;' such foreign person; 
(5) the legal description and acreage of such agricultural land; 
(6) the purchase price paid for, or any other consideration 
given for, such interest; 
(7) the agricultural purposes for which such foreign person— 
, 
(^) is using such agricultural land on the date on which 
. / . 
such report is submitted to the Secretary; and 
(B) intends, as of such date, to use such agricultural land; 
and 
''•''" ' 
(8) such other information as the Secretary may require by 
regulation. 
(c) Any person who holds or acquires (on or after the effective date 
of this section) any interest, other than a security interest, in agricul-
tural land at a time when such person is not a foreign person and who 
subsequently becomes a foreign person shall submit a report to the 
Secretary not later than 90 days after the date on which such person 
becomes a foreign person. Such report shall be submitted in such 
form and in accordance with such procedures as the Secretary may 
require and shall contain the information required by subsection (b) 
j 
of this section. This subsection shall not apply with respect to any 
person who is required to submit a report with respect to such land 
under subsection (b) of this section. 
(d) Any foreign person who holds or acquires (on or after the 
effective date of this section) any interest, other than a security inter-
est, in land at a time when such land is not aj^ricultural land and such 
land subsequently becomes agricultural land shall submit a report to 
the Secretary not later than 90 days after the date on which such land 
becomes agricultural land. Such report shall be submitted in such form 
and in accordance with such procedures as the Secretary may require 
and shall contain the information required by subsection (b) of this 
section. This subsection shall not apply with respect to any person 
who is required to submit a report with respect to such land under 
subsection (b) of this section. 
(e) With respect to any foreign person, other than an individual or 
a government, who is required by subsection (a), (b),_ (c), or (d) of this 
section to submit a report, the Secretary may, in addition, require such 
foreign person to submit to the Secretarv a report containing— 
(A) the legal name and the address of each person who holds 
any interest in such foreign person; 
(B) in any case in which the holder of such interest is an 
individual, the citizenship of such holder; and 
(C) in any case in which the holder of such interest is not an 
individual or a government, the nature of the legal entity holding 
PUBLIC LAW 95-460—OCT. 14, 1978 
92 STAT. 1265 
^
^ 
the interest, the country in which such holder is created or orga-
nized, and the principal place of business of such holder, 
(f) With respect to any person, other than an individual or a gov-
ernment, whose legal name is contained in any report submitted under 
subsection (e) of the section, the Secretary may require such person to 
submit to the Secretary a report containing— 
(A) the legal name and the address of any person who holds 
j; 
any interest in the person submitting the report under this 
' 
subsection; 
^ 
(B) in any case in which the holder of such interest is an 
individual, the citizenship of such holder-; and 
' 
(C) in any case in which the holder of such interest is not an 
' 
individual or a government, the nature of the legal entity holding 
the interest, the country in which such holder is created or 
'• 
organized, and the principle place of business of such holder. 
' 
CIVIL PENALTY 
i SEC. 3, (a) If the Secretary determines that a person— 
7 USC 3502. 
(1) has failed to submit a report in accordance with the provi-
sions of section 2, or 
(2) has knowingly submitted a report under section 2— 
(A) which does not contain all the information required to 
. , 
be in such report, or 
(B) which contains information that is misleading or 
false, 
such person shall be subject to a civil penalty imposed by the 
Secretary. The amount of any such civil penalty shall be deter-
mined in accordance with the provisions of subsection (b) of 
this section. Any such civil penalty shall be recoverable in a civil 
action brought by the Attorney General of the United States in 
an appropriate district court of the United States. 
_,, 
(b) The amount of any civil penalty imposed by the Secretary under 
subsection (a) of this section shall be such amount as the Secretary 
determines to be appropriate to carry out the purposes of this Act, 
except that such amount shall not exceed 25 percent of the fair market 
value, on the date of the assessment of such penalty, of the interest in 
agricultural land with respect to which such violation occurred. 
INVESTIGATIVE ACTIONS 
SEC. 4. The Secretary may take such actions as the Secretary con- 7 USC 3503. 
siders necessary to monitor compliance with the provisions of this Act 
and to determine whether the information contained in any report 
submitted under section 2 accurately and fully reveals the ownership 
<^r;j, >
, . 
interest of all foreign persons in any foreign person who is required 
to submit a report under such section. 
REPORTS TO CONGRESS AND THE PRESIDENT 
SEC. 5. (a) In accordance with the schedule set forth in subsection 
7 USC 3504. 
(b) of this section, the Secretary shall— 
(1) with respect to each period set forth in such subsection, 
analyze information obtained by the Secretary under section 2 
and determine the effects of foreign persons acquiring, trans-
ferring, and holding agricultural land, particularly the effects of 
such acquisitions, transfers, and holdings on family farms and 
rural communities; and 
92 STAT. 1266 
PUBLIC LAW 95-460—OCT. 14, 1978 
f
. 
(2) transmit to the President and each House of the Congress a 
report on the Secretary's findings and conclusions regarding— 
(A) each analysis and determination made under para-
graph (1) ;and 
(B) 
the effectiveness and efficiency of the reporting 
requirements contained in section 2 in providing the informa-
tion required to be reported by such section. 
(b) An analysis and determination shall be made, and a report on 
the Secretary's findings and conclusions regarding such analysis and 
determination transmitted, pursuant to subsection (a) of this 
section— 
(1) with respect to information obtained by the Secretary under 
section 2 during the 6-month period following the effective date of 
section 2, within 9 months after such effective date; 
(2) with respect to information obtained by the Secretary under 
section 2 during the 12-month period following the effective date 
of section 2, within 15 months after such effective date; and 
(3) with respect to each calendar year following the 12-month 
ihu; i'kiii > 
period referred to in paragraph (2), within 90 days after the end 
of such calendar year. 
REPORTS TO THE STATES 
7 use 3505. 
SEC. 6. Not later than 30 days after the end of each 6-month period 
beginning after the effective date of section 2, the Secretary sihall 
transmit to each State department of agriculture, or such other appro-
priate State agency as the Secretary considers advisable, a copy of 
each report which was submitted to the Secretary under section 2 dur-
ing such 6-month period and which involved a^icultural land located 
in such State. 
PUBLIC 
I N S P E C T I O N 
7 use 3506. 
SEC. 7. Any report submitted to the Secretary under section 2 shall 
be available for public inspection at the Department of Agriculture 
located in the District of Columbia not later than 10 days after the 
date on which such report is received by the Secretary. 
., 
REGULATIONS 
7 use 3507. 
SEC. 8. Not later than 90 days after the date of the enactment of this 
Act, the Secretary shall prescribe regulations for purposes of carrying 
out the provisions of this Act. 
•:0^-;^ 
DEFINITIONS 
7 use 3508. 
SEC. 9. For purposes of this Acl^-
(1) the term "agricultural land" means any land located in one 
or more States and used for agricultural, forestry, or timber pro-
duction purposes as determined by the Secretary under regula-
tions to be prescribed by the Secretary; 
.3,. . vj; s, 
(2) the term "foreign government" means any government other 
tihan the Federal Government or any government of a State or a 
political subdivision of a State; 
(3) the term "foreign person" means— 
,, 
(A) any individual— 
^ 
(i) who is not a citizen or national of the United 
States; 
(ii) who is not a citizen of the Northern Mariana 
Islands or the Trust Territory of the Pacific Islands; or 
PUBLIC LAW 95-4^0—OCT. 14, 1978 
92 STAT. 1267 
(iii) who is not lawfully admitted to the United States 
for permanent residence, or paroled into the United 
States, under the Immigration and Nationality Act; 
(B) any person, other than an individual or a government, 
which is created or organized imder the laws of a foreign gov-
ernment or which has its principal place of business located 
outside of all the States; 
(C) any person, other than an individual or a government— 
(i) which is created or organized under the laws 
of any State; and 
(ii) in which, as determined by the Secretary under 
' 
regulations which the Secretary shall prescribe, a signifi-
cant interest or substantial control is directly or indirectly 
held— 
(I) by any individual referred to in subpara-
graph (A); 
(II) by any person referred to in subparagraph 
(B); 
(III) by any foreign government; or 
(IV) by any combination of such individuals. 
personSj or governments; and 
(D) any foreign government; 
(4) the term "person" includes any individual, corporation, 
company, association, firm, partnership, society, joint stock com-
pany, trust, estate, or any other legal entity; 
(5) the term "Secretary" means the Secretary of Agriculture; 
and 
(6) the term "State" means any of the several States, the Dis-
trict of Columbia, the Commonwealth of Puerto Eico, the 
Northern Mariana Islands, Guam, the Virgin Islands, American 
Samoa, the Trust Territory of the Pacific Islands, or any other 
territory or possession of the United States. 
. ^1 
,., i i 
^ 
,•. EFFECTIVE DATES 
; , . , ^ , , „ . 
; ., 
SEC. 10. (a) Except as provided in subsection (b) of this section, this 7 USC 3501 note. 
Act shall become effective on the date of the enactment of this Act. 
(b) Section 2 shall become effective on the date on which regulations 
prescribed by the Secretary under section 8 become effective. 
Approved October 14, 1978. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 95-1570 accompanying H.R. 13356 (Coram, on Agriculture). 
SENATE REPORT No. 95-1072 (Coram, on Agriculture, Nutrition, and Forestry). 
CONGRESSIONAL RECORD, Vol. 124 (1978): 
Aug. 11, considered and passed Senate. 
Sept. 26, H.R. 13356 considered and passed House; passage vacated and 
S. 3384, amended, passed in lieu. 
Oct. 2, Senate concurred in House amendments. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 14, No. 42: 
Oct. 14, Presidential statement.