US HB4362

Requires foreign persons holding at least 1% interest in U.S. agricultural land to file disclosure reports under AFIDA, whether held directly or through multiple tiers of entity ownership

Directs the Farm Production and Conservation Business Center to validate AFIDA data, ensure compliance with the new 1% reporting threshold, and identify violators subject to civil penalties

Mandates the Secretary of Agriculture enter into memoranda of understanding with CFIUS within 1 year to share all foreign land ownership reports, including submitter identities and submission dates

Requires updating the Farm Service Agency's "Foreign Investment Disclosure" handbook within 1 year to incorporate January 2024 GAO recommendations, with subsequent updates every 10 years

Orders analysis of the streamlined electronic submission process required by the 2023 Consolidated Appropriations Act if not implemented within 1 year, including specific steps and implementation timeline benchmarks