Digitization and consolidation of foreign land ownership data collection and publication

(a) Definitions In this section: (1) Agricultural land The term agricultural land has the meaning given the term in section 781.2 of title 7, Code of Federal Regulations (as in effect on the date of enactment of this Act). (2) Database The term database means the database developed under subsection (c). (3) Foreign person The term foreign person has the meaning given the term in section 9 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3508). (b) Database Not later than 3 years after the date of enactment of this Act, the Secretary shall develop a database of agricultural land owned by foreign persons, using data that are collected pursuant to the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501 et seq.). (c) Contents Each entry in the database for each registration or updated registration of agricultural land owned or leased by a foreign person shall include pertinent information, as determined by the Secretary, in the applicable filing, except it shall not publicly disclose the name of the filer and the purchase or lease price of such transaction for a period of at least 30 days following such filing. (d) Audit Not later than 180 days after the database is operational, and annually thereafter, the Chief of Operations for Investigative Actions appointed under section 4 of the Agricultural Foreign Investment Disclosure Act of 1978 (as amended by section 12303(a)) shall— (1) conduct an audit of the database; and (2) submit to the appropriate committees of Congress a report— (A) evaluating the accuracy of the database; and (B) describing recommendations for improving compliance with the reporting required under the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501 et seq.). (e) Repeal Section 773 of division A of the Consolidated Appropriations Act, 2023 (Public Law 117–328) is repealed.