Bill to tighten foreign ownership of Iowa land becomes law

DES MOINES – With the signing of SF 2204 into law, Iowa Secretary of State Paul Pate is commending Governor Reynolds and the Iowa Legislature for their commitment to protecting Iowa’s most valuable resource: Iowa farmland. The bill passed unanimously with little floor discussion, emphasizing the broad, bipartisan support for stronger restrictions on foreign land ownership.
“Iowa is already known for having some of the strongest laws around foreign land ownership, and this bill strengthens state laws and puts Iowa farm owners first,” said Secretary Pate. “It is clear, with the passing of this bill, that Iowa’s legislature and statewide elected leaders are dedicated to supporting Iowa farmers and upholding our status as a national agricultural leader.”
Under SF 2204, foreign landowners must provide more information to the state. The failure to do so will result in or pay increased financial penalties for any violations. The Iowa Secretary of State’s office will be tasked with additional tracking and reporting of foreign farmland ownership, including an annual report filed with the Governor and General Assembly on all records of foreign land ownership. The Attorney General will also have access to the report to enforce the law.
“I look forward to working with the Iowa Legislature, Governor Reynolds, and Attorney General Bird on behalf of Iowa farmers to protect Iowa farmland and preserve Iowa’s leading role in agriculture,” said Secretary Pate.
Currently, foreign landowners are required to register with the Iowa Secretary of State’s office and submit agricultural land ownership reports required by Iowa law. The Iowa Secretary of State’s office coordinates with the Attorney General's office as necessary on enforcement issues.
Under the new bill, foreign landowners are required to include additional information on reports, including ownership structure and lists its landholdings in excess of 250 acres across the nation. Foreign entities will face increased financial penalties for failure to register with the Iowa Secretary of State’s office or misrepresent any required information.
Attorney General Brenna Bird said the new law gives the state an extra line of defense against foreign misdoings.
“Iowa farmland belongs in the hands of Americans. Today’s bill signing ensures valuable Iowa farmland will be protected from foreign adversaries and that my office has the tools it needs to investigate violations. While Iowa’s laws are already strong, this extra line of defense will make them even stronger. I thankGovernor Reynolds for leading to protect Iowa farmland, and the Iowa legislature for propelling this bill across the finish line. I encourage anyone who has information about foreign ownership of farmland to call my office so that we canget to the bottom of it.”
Reynolds said other states are looking to Iowa to lead the way on tightening foreign ownership controls.
“Iowa’s laws on foreign ownership of land have long been recognized as some of the strongest in the nation, with other states looking to us when crafting their own policies. Yet, in the decades since we first addressed this issue, adversaries like China have grown significantly more aggressive on the world stage, constantly looking for any opening to assert themselves at the expense of our country. One all-too-common weapon in this battle is the purchase of American farmland. 
“Our state’s fertile soil and unmatched production capacity make us a natural target for this strategy. Our farm families produce 10 percent of the nation’s food supply and Iowa ranks as America’s top producer of biofuels. That makes us a natural leader in the race to stave off the evolving threat to American agriculture. When Iowa speaks, the country listens. And with this bill our message is unmistakable: American soil belongs in American hands.”