Prohibition on purchase of agricultural land in the United States by persons associated with certain foreign governments

(a) In general Notwithstanding any other provision of law, the President shall take such actions as may be necessary to prohibit the purchase by covered persons of public or private agricultural land (including ranching land) located in the United States. (b) Implementation The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out subsection (a). (c) Penalties A person that violates, attempts to violate, conspires to violate, or causes a violation of subsection (a) or any regulation, license, or order issued to carry out that subsection shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) to the same extent as a person that commits an unlawful act described in subsection (a) of that section.