Modifies provisions relating to foreign ownership of agricultural land

SB 866 bans new foreign ownership of Missouri farmland after August 28, 2026, prohibiting foreign individuals or companies from acquiring agricultural land. It directly affects existing foreign landowners by preventing them from transferring land to other foreign entities after that date. All proposed transfers of farmland held by foreign owners must undergo review by the Missouri Department of Agriculture to ensure compliance. The bill removes a previous 1% cap on total foreign ownership, replacing it with a complete ban on new foreign acquisitions after the effective date.