This bill aims to restrict the ownership of agricultural land in New Jersey by foreign governments and foreign persons. It prohibits any foreign entity from acquiring, purchasing, or obtaining any interest in agricultural land after the bill's effective date, with limited exceptions. Foreign governments or persons who already own agricultural land at the time the bill takes effect may retain ownership for a maximum of five years, during which they must sell or convey their interest to a non-foreign entity, ensuring the land remains devoted to agricultural use. The bill outlines specific conditions under which foreign ownership may continue, such as through legal processes related to debt collection or inheritance.

Additionally, the bill mandates the Secretary of Agriculture to compile and report data annually on the acreage of agricultural land owned by foreign entities, including changes over the past decade and the nationalities of these owners. It also stipulates that any land acquired by foreign entities through legal processes must be sold within two years, with a deed of easement attached to ensure continued agricultural use. Provisions inconsistent with U.S. treaties are exempt from the bill's restrictions, and the Secretary is authorized to gather relevant data from various state and federal sources to fulfill reporting requirements.