Disclosure requirements for foreign agricultural real estate holdings

(a) Reporting requirements Section 2(a) of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501(a)) is amended— (1) in the first sentence of the matter preceding paragraph (1)— (A) by inserting, or enters into a leasing agreement the period of which is longer than 5 years with respect to agricultural land, after agricultural land; and (B) by striking acquisition or transfer and inserting acquisition, transfer, or lease; and (2) in paragraph (4), by striking acquired or transferred and inserting acquired, transferred, or leased. (b) Revocation of minimum acreage requirement Section 9(1) of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3508(1)) is amended by inserting, subject to the condition that the Secretary may not exclude land from this definition based on the acreage of the land before the semicolon at the end.