Reporting requirements

Section 3 of the Agricultural Foreign Investment Disclosure Act of 1978 (as redesignated by section 12201(b)(1)(A)) is amended— (1) in subsection (a)— (A) in paragraph (4), by striking acquired or transferred and inserting acquired, transferred, or leased; (B) in paragraph (6), by inserting or lease after purchase; (C) in paragraph (7), by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and indenting the clauses appropriately; and (D) by redesignating paragraphs (1) through (9) as subparagraphs (A) through (I), respectively, and indenting the subparagraphs appropriately; (2) by striking the section designation and heading and all that follows through Such report in the second sentence of subsection (a) in the matter preceding paragraph (1) and inserting the following: 3. Reporting requirements (a) Acquisitions or transfers of certain agricultural land interests by foreign persons (1) In general A foreign person that acquires or transfers any interest in agricultural land, or that enters into a leasing agreement the period of which is longer than 5 years with respect to agricultural land, shall submit to the Secretary a report describing the acquisition, transfer, or lease, as applicable, not later than 90 days after the date of the acquisition, transfer, or lease. (2) Requirements A report under paragraph (1); (3) by striking subsection (b); (4) in subsection (c)— (A) by striking the third sentence; (B) in the second sentence— (i) by striking subsection (b) of this section and inserting subparagraphs (A) through (F), (H), and (I) of subsection (a)(2); and (ii) by striking Such report and inserting the following: (2) Requirements A report under paragraph (1); and (C) by striking the subsection designation and all that follows through who subsequently in the first sentence and inserting the following: (b) Change in foreign person status of interest holders (1) In general A person that holds or acquires any interest in agricultural land at a time when the person is not a foreign person, and that subsequently; (5) in subsection (d)— (A) by striking the third sentence; (B) in the second sentence— (i) by striking subsection (b) of this section and inserting subparagraphs (A) through (F), (H), and (I) of subsection (a)(2); and (ii) by striking Such report and inserting the following: (3) Requirements A report under paragraphs (1) and (2); (C) by striking the subsection designation and all that follows through security interest, in the first sentence and inserting the following: (c) Conversion of land (1) Conversion of land to agricultural use A foreign person that holds or acquires any interest; and (D) by inserting after paragraph (1) (as so designated) the following: (2) Conversion of land out of agricultural use A foreign person that holds or acquires any interest in agricultural land that subsequently ceases to be agricultural land shall submit a report to the Secretary not later than 90 days after the date on which that land ceases to be agricultural land.; (6) in subsection (e)— (A) in subparagraph (A), by striking each person who and inserting each person that; (B) by redesignating subparagraphs (A) through (C) as paragraphs (1) through (3), respectively; and (C) in the matter preceding paragraph (1) (as so redesignated)— (i) by striking who is required by subsection (a), (b), (c), or (d) of this section and inserting that is required under subsection (a), (b), or (c); and (ii) by striking (e) With respect and inserting the following: (d) Additional reports by foreign persons other than individuals or governments With respect; and (7) in subsection (f)— (A) in subparagraph (A), by striking any person who and inserting each person that; (B) in subparagraph (C), by striking principle place and inserting principal place; (C) by redesignating subparagraphs (A) through (C) as paragraphs (1) through (3), respectively; and (D) in the matter preceding paragraph (1) (as so redesignated)— (i) by striking subsection (e) of the section and inserting subsection (d); and (ii) by striking (f) With respect and inserting the following: (e) Persons holding certain interests With respect.