US HB2124

Foreign purchasers of U.S. agricultural land would face the same restrictions that U.S. citizens face when purchasing agricultural land in the foreign purchaser's home country (reciprocity principle)

Establishes a "U.S. Land Protection Task Force" chaired by the Secretary of Agriculture, including CFIUS, DOJ National Security Division, and Secretary of State, to identify violations and determine which countries have the most restrictive land purchase laws

For purchasers with multiple citizenships or companies with foreign ownership of at least 5%, the country with the most restrictive agricultural land laws would apply

Requires sellers of agricultural land to foreign purchasers to report sales to the Secretary of Agriculture, who must then notify the relevant U.S. Senators and House member for that location

Task Force must submit reports to Congress every 6 months detailing percentage of agricultural land sold to foreign purchasers, purchase costs, title history, and whether land is within 100 miles of a military installation