MO SB292

Reduces the cap on total foreign and alien ownership of agricultural land in Missouri from 1% to 0.5% (one-half of one percent) of total agricultural acreage in the state

Requires all proposed acquisitions of agricultural land by aliens or foreign businesses to be approved by the Director of the Department of Agriculture before any sale, transfer, or acquisition can occur

Grandfathers agricultural land owned by aliens or foreign businesses as of August 28, 2015, and permits those owners to acquire up to an additional 20% more acreage beyond their holdings on that date

Exempts aliens who establish bona fide U.S. residency, granting them the same land acquisition rights as U.S. citizens; if residency ends, they have 2 years to divest agricultural holdings or face court-ordered public sale

Prohibits holding agricultural land as an agent, trustee, or fiduciary for aliens or foreign businesses in violation of these restrictions