An Act to prohibit the acquisition of agricultural land by foreign governments.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. That 43-2A-1 be AMENDED:
43-2A-1.
For
purposes ofTerms
used in this
chapter,
the term "agricultural land" means
mean:
(1) "Agricultural
land,"
land capable of use in the production of agricultural crops, timber,
livestock or livestock products, poultry or poultry products, milk or
dairy products, or fruit and other horticultural products,
but does
not
include
including
any royalty
interest, any oil, gas, or other mineral interest, or any lease,
right of way, option, or easement relating thereto, or
any land zoned by a local governmental unit for a use other than and
nonconforming with agricultural use;
(2) "Controlling interest," possession of:
(a) An ownership interest that is greater than fifty percent; or
(b) An ownership interest in any entity whose business and affairs are directed by a foreign government, without a requirement for consent by another party;
(3) "Foreign government," a government or the state-controlled enterprise of a government, other than the United States, its states, or its territories; and
(4) "State-controlled enterprise," a business entity in which a foreign government has a controlling interest.
Section 2. That 43-2A-2 be AMENDED:
43-2A-2.
No
An
alien, who is
not a resident of this state, of some
another
state or
territory of the United States,
or of the District of Columbia;
and no foreign government shall hereafter,
may not acquire
agricultural
lands
land, or any
interest
therein
in agricultural land,
exceeding one hundred sixty acres, except
such as may be acquiredunless
the acquisition is by
devise
or,
by inheritance,
and such as may be held
as
or
security for
indebtedness.
The
provisions of thisA
foreign government may not purchase, acquire, lease, or hold any
interest in agricultural land in this state.
This
section do
does
not apply
tocitizens,
foreign
governments:
(1) Citizens
or subjects of
a foreign country whose
if
their right to
hold land are
is
secured by
treaty;
or
(2) Any interest in agricultural land acquired by a foreign government before July 1, 2023.