Assembly Bill 218 aims to amend existing laws regarding foreign ownership of agricultural land in Wisconsin. The bill significantly reduces the maximum acreage that certain foreign persons can own from 640 acres to 50 acres and specifies that the limitation applies only to land classified as agricultural for property tax purposes, excluding forestry land. Additionally, the bill expands the definition of "covered foreign persons" to include foreign governments and raises the ownership threshold for entities to be classified as foreign-owned from 20% to 25%. It also introduces a new provision that prohibits covered foreign persons from acquiring any real property within 10 miles of military installations and establishes a divestiture period of three years for those who exceed the acreage limit.

Furthermore, the bill explicitly prohibits foreign adversaries, as defined by the U.S. Department of Commerce, from acquiring any interest in real property in Wisconsin. This includes countries such as China, Cuba, Iran, North Korea, Russia, and Venezuela. Any interests acquired in violation of this prohibition will be forfeited to the state, with enforcement responsibilities assigned to the attorney general. The bill also allows for exceptions, such as leases for agricultural research purposes and interests acquired through inheritance or debt collection, provided that these interests are divested within specified timeframes.

Statutes affected:
Bill Text: 710.01, 710.02(title), 710.02