HB 706 Summary

• Prohibits foreign governments and foreign state-controlled enterprises from purchasing or holding controlling interests in agricultural land, water rights, mining claims, or mineral rights in Idaho, with exceptions for interests acquired before the effective date and foreign pension funds.

• Prohibits foreign principals from foreign adversary countries (China, Russia, Iran, North Korea, Cuba, Venezuela, Syria) from purchasing or holding controlling interests in agricultural land, water rights, mining claims, or mineral rights, with limited exceptions for de minimis indirect interests in publicly traded companies.

• Requires foreign principals owning agricultural land to divest within 180 days of the effective date and to register with the Idaho State Department of Agriculture within 60 days of ownership.

• Prohibits foreign principals from foreign adversaries from purchasing, renting, or controlling any property within specified geographic coordinates near military installations, with a 180-day divestiture requirement.

• Establishes enforcement mechanisms including attorney general lawsuits, judicial foreclosure of noncompliant properties, and a whistleblower reward program providing 30% of sale proceeds; effective date is July 1, 2024.