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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.
12/15/2023, 3:55 PM
Summary of Bill HR 1789
Bill 118 hr 1789, also known as the Agricultural Foreign Investment Disclosure Act Amendment, aims to make changes to the Agricultural Foreign Investment Disclosure Act of 1978. The main purpose of this bill is to increase the minimum amount of a civil penalty that can be imposed for violating the original Act. This means that individuals or entities who fail to comply with the regulations outlined in the Act will face steeper fines as a consequence.
In addition to increasing the minimum civil penalty, the bill also includes provisions for other purposes related to the Agricultural Foreign Investment Disclosure Act. These additional purposes could include clarifying existing regulations, updating enforcement mechanisms, or addressing any loopholes or shortcomings in the original Act.
Overall, the goal of Bill 118 hr 1789 is to strengthen the enforcement of the Agricultural Foreign Investment Disclosure Act and ensure that individuals and entities are held accountable for any violations. By increasing the penalties for non-compliance, the bill aims to deter future violations and promote greater transparency and accountability in foreign investment in the agricultural sector.
In addition to increasing the minimum civil penalty, the bill also includes provisions for other purposes related to the Agricultural Foreign Investment Disclosure Act. These additional purposes could include clarifying existing regulations, updating enforcement mechanisms, or addressing any loopholes or shortcomings in the original Act.
Overall, the goal of Bill 118 hr 1789 is to strengthen the enforcement of the Agricultural Foreign Investment Disclosure Act and ensure that individuals and entities are held accountable for any violations. By increasing the penalties for non-compliance, the bill aims to deter future violations and promote greater transparency and accountability in foreign investment in the agricultural sector.
Congressional Summary of HR 1789
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.)
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.
Read the Full Bill
Current Status of Bill HR 1789
Bill HR 1789 is currently in the status of Bill Introduced since March 24, 2023. Bill HR 1789 was introduced during Congress 118 and was introduced to the House on March 24, 2023. Bill HR 1789's most recent activity was Referred to the House Committee on Agriculture. as of March 24, 2023
Bipartisan Support of Bill HR 1789
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1789
Primary Policy Focus
Agriculture and FoodAlternate Title(s) of Bill HR 1789
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.
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.
Comments
Sponsors and Cosponsors of HR 1789
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