Stricken language would be deleted from and underlined language would be added to present law.
Act 1046 of the Regular Session
1 State of Arkansas As Engrossed: S3/3/21 H3/29/21 H4/19/21 H4/20/21
2 93rd General Assembly A Bill
3 Regular Session, 2021 SENATE BILL 312
4
5 By: Senators B. Johnson, M. Pitsch, B. Ballinger, Beckham, Caldwell, J. Dismang, Flippo, T. Garner,
6 Gilmore, Hester, Hill, Irvin, Rice, B. Sample, J. Sturch, D. Sullivan, D. Wallace
7 By: Representatives Lundstrum, Bentley, Brown, Cavenaugh, Crawford, Gazaway, J. Mayberry, Miller,
8 Payton, Richmond, Rye, B. Smith, Vaught, Jett
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10 For An Act To Be Entitled
11 AN ACT TO AMEND THE LAW CONCERNING OWNERSHIP AND
12 POSSESSION OF REAL PROPERTY; AND FOR OTHER PURPOSES.
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15 Subtitle
16 TO AMEND THE LAW CONCERNING OWNERSHIP AND
17 POSSESSION OF REAL PROPERTY.
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20 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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22 SECTION 1. Arkansas Code Title 2, Chapter 3, Subchapter 1, is amended
23 to add an additional section to read as follows:
24 2-3-111. Reporting requirement.
25 (a) Beginning October 1, 2021, a foreign person required to make a
26 report to the United States Department of Agriculture under the Agricultural
27 Foreign Investment Disclosure Act, 7 U.S.C. 3501 et seq., shall also file a
28 copy of the required report with the Secretary of the Arkansas Department of
29 Agriculture within the time period required under the federal law.
30 (b) The Attorney General:
31 (1) Shall impose a civil penalty not to exceed twenty-five
32 percent (25%) of the fair market value, on the date of the assessment of the
33 penalty, of the interest in the agricultural land for failure to file a copy
34 of the report with the Secretary of the Arkansas Department of Agriculture as
35 required under subsection (a) of this section; and
36 (2) May bring an action to collect the civil penalty in the
*DTP129* 04-20-2021 15:42:38 DTP129
 As Engrossed: S3/3/21 H3/29/21 H4/19/21 H4/20/21 SB312
1 Pulaski County Circuit Court or in the circuit court of any county in which
2 any portion of the agricultural land acquired is located.
3 (c) Sections 2-3-101 through 2-3-110 are suspended while the
4 Agricultural Foreign Investment Disclosure Act, 7 U.S.C. 3501 et seq., is
5 in effect.
6 (d) This section shall expire upon the repeal of the Agricultural
7 Foreign Investment Disclosure Act, 7 U.S.C. 3501 et seq.
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10 /s/B. Johnson
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13 APPROVED: 4/29/21
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2 04-20-2021 15:42:38 DTP129


Statutes affected:
Old version SB312 Original - 2-10-2021 01:37 PM: 18-11-101(a)
Old version SB312 V2 - 3-3-2021 01:43 PM: 18-11-101(a)
Old version SB312 V3 - 3-29-2021 11:59 AM: 18-11-101(a), 2-3-102(1), 03-29-2021, 2-3-102(3), 2-3-102, 2-3-103(a)
Old version of SB 312 - 03-03-21: 18-11-101(a)
Old version of SB 312 - 02-10-21: 18-11-101(a)