Vote Smart's Synopsis:

Vote to amend and pass a bill that establishes acquisitions for agricultural land

Highlights:

• Authorizes any nonresident alien, foreign business, Boeing agent, trustee, or fiduciary who is required to take instruction from or executive decisions for the government is prohibited from (Sec. 1): 

• The purchase, lease, or acquisition of any interest in public or private agricultural land located in the Commonwealth of Kentucky; and 

• Participating in programs administered by the Department of Agriculture. 

• Establishes that any nonresident alien, foreign business, Boeing agent, trustee, or fiduciary who owns agricultural land may continue to hold the land but may not purchase, lease or acquire any additional land (Sec. 1).

• Specifies that nothing in this act shall prohibit: 

• An existing business that has a legal relationship with or is legally bound to take instruction from the government located in the Commonwealth from purchasing, leasing, or acquiring agricultural land adjacent to the land that the foreign business owns; and 

• Any nonresident alien, foreign business, Boeing agent, trustee, or fiduciary from purchasing, leasing, or acquiring land up to three hundred and fifty acres for agricultural research and development purchases. 

• Requires the Department of Agriculture to review any report (Sec. 1): 

• Received in accordance with this section; and 

• Voluntarily submitted by a county register of deeds. 

• Establishes that if the Department of Agriculture has reason to believe that a violation has occurred they shall refer evidence of noncompliance to the office of the Attorney General to investigate for evidence (Sec. 1). 

• Authorizes the court to declare agricultural land escheated to the state and order of the sale if it finds that the land has been purchased or acquired in violation of this section (Sec. 1). 

• Specifies that after the Office of the Attorney General has been reimbursed for the costs of enforcing the sale of the agricultural land all other funds will be disbursed to the following (Sec. 1) :

• Payment of delinquent ad valorem taxes; 

• Payment to mortgage and other lien holders; and

• Despotic in the Budget Reserve Trust Fund.