AR SB312

Requires foreign persons to file copies of reports with the Arkansas Department of Agriculture Secretary, beginning October 1, 2021, when reporting agricultural land acquisitions to the U.S. Department of Agriculture under the Agricultural Foreign Investment Disclosure Act.

Authorizes the Arkansas Attorney General to impose civil penalties of up to 25% of the fair market value of the agricultural land interest for failure to file the required report copy with the state.

Allows the Attorney General to collect civil penalties through lawsuits filed in Pulaski County Circuit Court or in any county where the acquired agricultural land is located.

Suspends existing state law sections 2-3-101 through 2-3-110 while the federal Agricultural Foreign Investment Disclosure Act remains in effect.

Automatically expires upon repeal of the federal Agricultural Foreign Investment Disclosure Act.