The bill establishes restrictions on foreign ownership of agricultural land in Wyoming, prohibiting foreign governments and foreign businesses from purchasing or acquiring title to such land. It defines key terms such as "agricultural land," "foreign business," and "foreign government," and outlines exceptions for entities that already own agricultural land as of July 1, 2023. These entities may continue to hold their land but are barred from acquiring additional agricultural land. If a business becomes classified as a foreign business after acquiring agricultural land, it must either convert the land to a non-agricultural purpose or sell it within two years. The bill also mandates that any foreign ownership of agricultural land must be registered with the Secretary of State, with penalties for non-compliance.

Additionally, the bill requires that assessment schedules and tax notices include information about the prohibition of foreign ownership of agricultural property and the registration requirement. The Secretary of State is tasked with enforcing these regulations, and county officials are required to report any suspected violations. The act is effective immediately upon its passage and completion of necessary legislative procedures.

Statutes affected:
Introduced: 39-13-103, 39-13-107