IL SB3490

Prohibits "prohibited foreign-party-controlled businesses" (entities with 50% or more ownership by parties from countries subject to International Traffic in Arms Regulations) from acquiring any interest in public or private land in Illinois

Bars "prohibited foreign parties" (citizens, residents, governments, or entities of ITAR-restricted countries) from acquiring agricultural land in Illinois, regardless of intended use

Grants resident aliens from prohibited foreign parties the right to hold agricultural land while residing in Illinois, but requires divestiture within 2 years if residency ends

Establishes violations as a Class 4 felony punishable by up to 2 years imprisonment, a $15,000 fine, or both, with the Attorney General authorized to pursue judicial foreclosure of non-divested properties

Creates the Office of Agricultural Intelligence within the Department of Agriculture to collect information on unlawful sales, investigate violations, and enforce the Act's provisions