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MO HB2732
Bill
Status
3/14/2016
Primary Sponsor
Jeff Pogue
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AI Summary
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Prohibits aliens or foreign businesses from acquiring agricultural land in Missouri if total foreign ownership exceeds 0.3% (three-tenths of one percent) of the state's total agricultural acreage
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Requires agricultural land sales to be submitted to the Missouri Department of Agriculture for review when the purchaser has not signed an IRS Form W-9
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Prohibits any person from holding agricultural land as an agent, trustee, or fiduciary for aliens or foreign businesses in violation of the law
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Protects security interests (such as mortgages or liens) from being invalidated even if a violation occurs
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Directs the Department of Agriculture to establish rules for submitting and approving acquisition requests under these restrictions
Legislative Description
Changes the laws regarding foreign ownership of agricultural land
Last Action
Referred: Agriculture Policy(H)
5/13/2016