MO HB260

Reduces the cap on foreign ownership of agricultural land in Missouri from 1% to 0.5% of total aggregate agricultural acreage, calculated using the USDA's 2012 census of agriculture

Eliminates the requirement for Department of Agriculture approval on all agricultural land sales; review is now required only when the purchaser has not signed a complete IRS Form W-9

Reserves 20% of agricultural acreage currently owned by aliens or foreign businesses for expansion by those existing owners or their direct descendants

Allows aliens who establish bona fide U.S. residency to acquire agricultural land on the same terms as U.S. citizens; those who lose residency status have 2 years to divest their holdings or face court-ordered public sale

Includes an emergency clause declaring the act effective immediately upon passage to ensure timely financing for agricultural land purchases