AFIDA Improvements Act of 2024

This bill updates the Agricultural Foreign Investment Disclosure Act (AFIDA) to strengthen reporting requirements for foreign ownership of U.S. agricultural land. It requires foreign individuals or entities holding at least 1% interest (directly or through multiple ownership layers) to report holdings, and directs the Farm Production and Conservation Business Center (FPAC-BC) to validate data and ensure compliance. The bill also mandates coordination with the Committee on Foreign Investment in the U.S. (CFIUS), updates the Farm Service Agency handbook using GAO recommendations, and analyzes streamlining electronic reporting. These changes aim to improve transparency and national security oversight of foreign agricultural land investments.