Bill Overview
Title: Agriculture Foreign Investment Transparency Act
Description: This bill revises reporting requirements related to acquisitions or transfers of certain agricultural land interests by foreign persons. Specifically, the bill (1) requires the Department of Agriculture to make all reports required under the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) publicly available on its website, and (2) expands the material required to be reported under the AFIDA to include security interests and land leases of any period.
Sponsors: Rep. Stefanik, Elise M. [R-NY-21]
Target Audience
Population: Individuals affected by foreign investment in agriculture globally
Estimated Size: 1000000
- Approximately 570 million farms exist worldwide, and nearly half of these are family farms. Not all possess land acquired by foreign persons, but many could be affected by this legislation in terms of transparency and possibly market valuation.
- Foreign investors in agricultural lands are the primary targets of this bill as it requires more transparency in their land holdings in the U.S.
- Families and individuals working on farms that have foreign investment could face changes in regulatory oversight.
- The increased transparency could indirectly affect many stakeholders, including foreign governments and multinational agriculture firms with investments globally.
Reasoning
- The focus is on both foreign investors in U.S. agriculture and American farmers who might be leasing or operating on foreign-owned land.
- The policy targets increased transparency, possibly impacting foreign investors' willingness to invest and American farmers' business operations.
- The policy's budget suggests it is large enough to implement these transparency measures, but its direct impact on individual well-being might be limited without more direct intervention in market conditions.
Simulated Interviews
Farmer (Iowa)
Age: 52 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- I think the policy will make it clearer who owns the land I'm leasing, which is good.
- It might be a double-edged sword if it causes the foreign investor to rethink their investment.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Policy advisor (California)
Age: 37 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 15/20
Statement of Opinion:
- This act might increase reporting burdens but could also clarify foreign investment's impact on U.S. agriculture.
- Transparency could benefit advisors and clients by providing clearer data for decisions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Investment Analyst (New York)
Age: 29 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- The transparency can make risk assessment easier for foreign clients.
- Might deter some investors due to increased scrutiny and required disclosures.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 7 | 8 |
| Year 3 | 7 | 8 |
| Year 5 | 7 | 8 |
| Year 10 | 7 | 8 |
| Year 20 | 6 | 7 |
Community Organizer (North Carolina)
Age: 45 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- Local farmers could benefit from knowing more about who owns the land.
- There's concern about international ownership affecting local control.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Retired Farmer (Nebraska)
Age: 60 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 20/20
Statement of Opinion:
- I've always been wary of foreign investment in our farmlands.
- Transparency is good, but it might be too late to make a big difference.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Agricultural Technologist (Texas)
Age: 33 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- This law might assure some tech investors about market stability.
- Increased data could help refine tech solutions for agricultural transparency.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 6 | 6 |
Land Appraiser (Kansas)
Age: 49 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 7.0 years
Commonness: 6/20
Statement of Opinion:
- Having more information will make my job easier and more accurate.
- The market might be affected if foreign investors pull back.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Agricultural Consultant (Florida)
Age: 41 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- Increased transparency could help sustainabilities in the long-term.
- International partners may hesitate, affecting my work.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 7 | 8 |
| Year 3 | 7 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 7 | 8 |
Farm Owner (Ohio)
Age: 58 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- I'm worried about market value changes due to disclosure impacts.
- Understanding foreign interests better might help future planning.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Agricultural Student (Wisconsin)
Age: 27 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 14/20
Statement of Opinion:
- Such policies are crucial for understanding global agricultural economics better.
- Personally, it aligns with my academic interests, providing more substantial data for research.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $5000000 (Low: $4000000, High: $6000000)
Year 2: $3500000 (Low: $3000000, High: $4000000)
Year 3: $3600000 (Low: $3100000, High: $4100000)
Year 5: $3800000 (Low: $3200000, High: $4300000)
Year 10: $4000000 (Low: $3400000, High: $4600000)
Year 100: $4000000 (Low: $3400000, High: $4600000)
Key Considerations
- The primary cost components involve upgrading and maintaining digital infrastructure for reporting and transparency.
- Ongoing compliance costs will persist indefinitely as data will need to be continuously updated, verified, and made accessible.
- The policy will require collaboration with various stakeholders, including foreign embassies and agricultural firms, to ensure compliance from foreign investors.