Agricultural Foreign Investment Disclosure Act: Revisions to Reporting Requirements

Résumé

The Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) implementing regulations establish requirements under which foreign persons must report interests in U.S. agricultural lands to the U.S. Department of Agriculture (USDA). AFIDA regulations describe the type of interest in agricultural land a foreign person must have to trigger the reporting requirement, specific information that must be included in the report, and the mechanics of filing the report with USDA. AFIDA also requires some information about foreign persons who hold an interest in the agricultural land even though they may not own it directly, provided those foreign persons have "significant interest or substantial control" in the direct interest holder. USDA uses information from the filings to produce periodic reports to Congress on the effect that foreign ownership of U.S. agricultural land has on family farms and rural communities, and for other purposes. AFIDA regulations were last updated in 2006. Since that time, national security attention to foreign ownership or substantial control of agricultural land has increased. Committee on Foreign Investment in the United States (CFIUS) agencies, including