Bill calls for confidential report on foreign ownership of Iowa farmland
January 31st, 2024 by Ric Hanson
(Radio Iowa) – The bill Governor Kim Reynolds has proposed to find out if foreigners are using a loophole to acquire Iowa farmland has cleared initial review in the Iowa Senate. Iowa’s secretary of state would be required to review land ownership records, to see if foreigners or foreign governments are involved in U-S based companies or trusts that have purchased or inherited Iowa farmland and prepare a summary.
Republican Senator Dan Zumbach, a farmer from Ryan, says the information would be presented to the governor and the legislature, but the annual report would be confidential and not released to the public.
“I think the information, when it’s all said and done, that the public would have some redated versions of that, of what’s going on,” Zumbach says, “but at this point we’re good where we’re at.” Iowa already prohibits foreigners from buying more than 320 acres of land. The bill would impose higher fines for violations.