This bill proposes the addition of a new section, 36-1-21a, to the Code of West Virginia, which aims to prohibit specific foreign ownership of agricultural land within the state. Under this new provision, entities such as governmental bodies of China, companies headquartered in China, and those controlled by the Chinese government or citizens are barred from purchasing or acquiring agricultural land. Furthermore, any such entities that already own agricultural land prior to July 1, 2025, will not be allowed to transfer that land to any foreign business after this date. The bill also stipulates that no individual may act as an agent or trustee for these prohibited entities regarding agricultural land.

Additionally, the bill mandates that any proposed transfers of agricultural land by the specified foreign entities must be submitted to the West Virginia Department of Agriculture for approval to ensure compliance with the new ownership restrictions. The department is tasked with establishing rules for the submission and approval process. Importantly, the bill includes provisions that ensure security interests in agricultural land are not invalidated or divested due to violations of these ownership restrictions.

Statutes affected:
Introduced Version: 36-1-21a