HI SB242

Prohibits foreign entities from owning, leasing, or holding a controlling interest in more than a specified number of acres (amount left blank in bill) of agricultural land in Hawaii

Limits agricultural land leases to foreign entities to a maximum of five years

Requires foreign entities with ownership or leasehold interest in agricultural land to file annual reports with the Department of Agriculture detailing acreage, location, land use types, and ownership changes

Establishes an online public registry of foreign-owned agricultural lands to be maintained by the Department of Agriculture

Imposes penalties including fines per acre for excess holdings, daily fines for reporting failures, and voids any land transactions made in violation of the law

Exempts agricultural lands owned by foreign entities before July 1, 2025, as well as inheritances, non-agricultural use with approval, and short-term leases

Effective date set for July 1, 2050