A CONCURRENT RESOLUTION, To provide for an interim study regarding foreign ownership of agricultural land.

WHEREAS, the concept of limiting foreign ownership of agricultural land received little attention in the United States until the 1970s, when several large purchases took place and concerns were raised about liquidity in oil exporting countries, resulting in more such purchases; and

WHEREAS, in 1978, Congress enacted the Agricultural Foreign Investment Disclosure Act to serve as the basis for any future action Congress might take in establishing controls or limits on foreign investment in agricultural land and to provide states with information related to land holdings or acquisitions by foreigners; and

WHEREAS, the Agricultural Foreign Investment Disclosure Act defines agricultural land as "any land located in one or more states and used for agricultural, forestry, or timber production purposes"; and

WHEREAS, while penalties can be assessed under the Agricultural Foreign Investment Disclosure Act, they rarely are, because the Act is viewed as a reporting statute, rather than a regulatory Act; and

WHEREAS, information available under the Agricultural Foreign Investment Disclosure Act is usually several years old and often lacking in accuracy; and

WHEREAS, some estimates suggest that foreign investors already own more than thirty million acres of United States farmland - acreage almost equal in size to the state of Ohio; and

WHEREAS, with the median age of farmers continuing to rise, and many facing retirement with no prospect of family members willing or able to take over their operations, it is likely that the number of agricultural acres under foreign ownership will also continue to rise; and

WHEREAS, while foreign ownership or control of agricultural land raises broad issues of national security, food security, and economic security, it also raises issues regarding the survivability of South Dakota's rural communities and culture, local supply chains and distribution mechanisms, and land stewardship; and

WHEREAS, Governor Noem has joined with sixteen other Governors in sending, to the Biden administration and the United States House and Senate Leadership, a letter that references "recent alarming land purchases" and calls for action to protect this country "from the imminent national security threat directly related to the Communist Party of China's efforts to amass U.S. land:"

NOW, THEREFORE, BE IT RESOLVED, by the House of Representatives of the Ninety Ninth Legislature of the State of South Dakota, the Senate concurring therein, that the Executive Board of the Legislative Research Council establish an interim committee to study foreign ownership and control of agricultural land in this state and the short-term and longer-term impacts on national security, food security, and economic security; and

BE IT FURTHER RESOLVED, that the interim committee seek data regarding the foreign ownership and control of agricultural land in this state and recommendations for statutory or regulatory changes from federal, state, and local governmental officials, and from representatives of interest groups focusing on agriculture, banking, commodity marketing, economic development, environmental issues, and real estate sales; and

BE IT FURTHER RESOLVED, that the interim committee prepare and report its findings and recommendations to the Executive Board of the Legislative Research Council, together with any legislation required to implement the recommendations, on or before December 1, 2024.