NC S338

Prohibits adversarial foreign governments (as designated by the U.S. Department of Commerce under 15 C.F.R. § 7.4 as of July 17, 2024) from purchasing, acquiring, leasing, or holding any interest in agricultural land or land within 25 miles of military installations in North Carolina

Defines "controlling interest" as possession of more than 50% ownership in an entity, or 50% or less if the owner directs business affairs without requiring consent from other parties

Lists protected military installations including Fort Bragg, Camp Lejeune, Cherry Point Marine Corps Air Station, Seymour Johnson Air Force Base, and the Dare County Bombing Range, among others

Appropriates $50,000 in nonrecurring funds for fiscal year 2025-2026 to the NC Agricultural Development and Farmland Preservation Trust to inventory farmland in the state

Land acquisition restrictions take effect January 1, 2026, and apply only to interests acquired on or after that date; any transfer violating this act is void