AFIDA Improvements Act of 2024

The AFIDA Improvements Act of 2024 updates the Agricultural Foreign Investment Disclosure Act to require foreign individuals or entities owning at least 1% of U.S. agricultural land (directly or through multiple ownership tiers) to report their holdings. It creates new enforcement duties for the Farm Production and Conservation Business Center (FPAC-BC) to validate data, ensure compliance, and identify violators. The bill mandates the Secretary of Agriculture to share foreign ownership reports with the Committee on Foreign Investment in the United States (CFIUS) and update agency handbooks using recommendations from a 2024 Government Accountability Office report. These changes apply directly to foreign landowners and agricultural agencies like the Farm Service Agency, aiming to improve transparency around foreign ownership of U.S. farmland.