Government : Foreign Land Ownership Bill Signed into Law, Protects Iowa’s Farmland

With the signing of SF 2204 into law, Iowa Secretary of State Paul Pate is commending Governor Reynolds and the Iowa Legislature for their commitment to protecting Iowa's most valuable resource: Iowa farmland. The bill passed unanimously with little floor discussion, emphasizing the broad, bipartisan support for stronger restrictions on foreign land ownership.

"Iowa is already known for having some of the strongest laws around foreign land ownership, and this bill strengthens state laws and puts Iowa farm owners first," said Secretary Pate. "It is clear, with the passing of this bill, that Iowa's legislature and statewide elected leaders are dedicated to supporting Iowa farmers and upholding our status as a national agricultural leader."

Under SF 2204, foreign landowners must provide more information to the state. The failure to do so will result in or pay increased financial penalties for any violations. The Iowa Secretary of State's office will be tasked with additional tracking and reporting of foreign farmland ownership, including an annual report filed with the Governor and General Assembly on all records of foreign land ownership. The Attorney General will also have access to the report to enforce the law.

"I look forward to working with the Iowa Legislature, Governor Reynolds, and Attorney General Bird on behalf of Iowa farmers to protect Iowa farmland and preserve Iowa's leading role in agriculture," said Secretary Pate.

Currently, foreign landowners are required to register with the Iowa Secretary of State's office and submit agricultural land ownership reports required by Iowa law. The Iowa Secretary of State's office coordinates with the Attorney General's office as necessary on enforcement issues.

Under the new bill, foreign landowners are required to include additional information on reports, including ownership structure and lists its landholdings in excess of 250 acres across the nation. Foreign entities will face increased financial penalties for failure to register with the Iowa Secretary of State's office or misrepresent any required information.