Changes the laws regarding the foreign ownership of agricultural land

HB 672 restricts foreign ownership of agricultural land in the state by setting a statewide cap: no foreign individuals or businesses may acquire new agricultural land after August 28, 2025, and existing foreign owners must sell their land by August 28, 2030. The law requires all transfers of agricultural land involving foreign entities after 2025 to be reviewed by the Department of Agriculture to ensure compliance with the 1% ownership limit. The Department must track foreign-owned land, notify owners by 2026, and report non-compliance by 2030. This bill directly affects foreign-owned agricultural landholders and any entity seeking to transfer such land after the 2025 deadline.