The proposed legislation establishes Part I-A of Chapter 22 of Title 3 of the Louisiana Revised Statutes, aimed at protecting agricultural lands from foreign adversaries and prohibited foreign actors. It explicitly prohibits these entities from owning, acquiring, leasing, or obtaining any interest in agricultural land, with certain exceptions for specific foreign business entities. The bill defines key terms such as "foreign adversary," "prohibited foreign actor," and "controlling interest," and outlines civil penalties and forfeiture for violations. The attorney general is granted the authority to take legal action against violators, investigate potential breaches, and seek injunctive relief, including ordering divestiture of interests in agricultural land.

Additionally, the legislation introduces provisions to protect ownership interests in immovable property related to transactions involving foreign adversaries. It ensures that forfeitures or dispositions consider the rights of individuals who did not knowingly engage with these entities, safeguarding mortgages, liens, or ownership interests from being affected by forfeiture processes. The Attorney General is required to file actions in the mortgage records of the relevant parish and notify holders of interests in the property about any pending forfeiture. The bill also limits the liability of attorneys and real estate professionals regarding transactions with foreign adversaries, stating they are not required to investigate such transactions and cannot be held liable for failing to identify these parties. The provisions apply only to immovable property acquired by foreign adversaries after August 1, 2024, ensuring that rights in such property remain intact despite prior ownership by these entities.