H.R.2124 - Land And National Defense Act; LAND Act (119th Congress)
Summary
H.R.2124, also known as the Land And National Defense Act (LAND Act), aims to regulate foreign purchases of agricultural land in the United States. The bill seeks to impose restrictions on foreign purchasers that mirror those faced by U.S. citizens in the purchaser's home country. It also establishes a task force to identify violations and requires reporting of land sales to foreign entities.
Expected Effects
The likely effect of this bill is increased scrutiny and potential limitations on foreign investment in U.S. agricultural land. This could lead to a decrease in foreign purchases and potentially impact land values and agricultural practices. The task force would monitor and report on these transactions.
Potential Benefits
- National Security: Enhanced monitoring of foreign land ownership near military installations.
- Fairness: Ensures reciprocal restrictions on land purchases.
- Transparency: Increased reporting requirements for land sales.
- Protection of Agricultural Interests: Aims to protect domestic agricultural land from foreign control.
- Congressional Oversight: Notification of land sales to relevant members of Congress.
Most Benefited Areas:
Potential Disadvantages
- Potential for Retaliation: Other countries might impose similar restrictions on U.S. investments abroad.
- Reduced Investment: Could deter foreign investment in U.S. agriculture.
- Complexity: Determining the most restrictive laws in foreign countries could be complex and time-consuming.
- Bureaucracy: Creation of a new task force adds to governmental bureaucracy.
- Economic Impact: Potential negative impact on land values and agricultural economy.
Most Disadvantaged Areas:
Constitutional Alignment
The bill's focus on regulating commerce and property ownership falls under the purview of Congress's powers as outlined in Article I, Section 8 of the Constitution, which grants Congress the power to regulate commerce with foreign nations and among the several states. The Fifth Amendment's Takings Clause could be relevant if the restrictions are so severe as to constitute a taking of property without just compensation. The equal protection clause of the Fourteenth Amendment might be invoked if the restrictions are deemed discriminatory, although distinctions based on citizenship have historically received deference.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).