Changes the laws regarding the foreign ownership of agricultural land

HB 2236 prohibits foreign individuals and businesses from acquiring agricultural land in the state starting August 28, 2024, while allowing those who already own land before that date to keep it but preventing them from selling it to other foreign entities. The bill requires the state Department of Agriculture to review any proposed land transfers involving foreign owners to ensure compliance with the new restrictions. It also clarifies that existing security interests, such as mortgages, remain valid even if the underlying land ownership violates these rules. This legislation directly affects foreign investors and businesses seeking to purchase farmland, as well as current foreign landowners who wish to sell their property.