
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC3501]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 66--AGRICULTURAL FOREIGN INVESTMENT DISCLOSURE
 
Sec. 3501. Reporting requirements


(a) Acquisitions or transfers of certain agricultural land interests by 
        foreign persons

    Any foreign person who acquires or transfers any interest, other 
than a security interest, in agricultural land shall submit a report to 
the Secretary of Agriculture not later than 90 days after the date of 
such acquisition or transfer. Such report shall be submitted in such 
form and in accordance with such procedures as the Secretary may require 
and shall contain--
        (1) the legal name and the address of such foreign person;
        (2) in any case in which such foreign person is an individual, 
    the citizenship of such foreign person;
        (3) in any case in which such foreign person is not an 
    individual or a government, the nature of the legal entity holding 
    the interest, the country in which such foreign person is created or 
    organized, and the principal place of business of such foreign 
    person;
        (4) the type of interest in agricultural land which such foreign 
    person acquired or transferred;
        (5) the legal description and acreage of such agricultural land;
        (6) the purchase price paid for, or any other consideration 
    given for, such interest;
        (7) in any case in which such foreign person transfers such 
    interest, the legal name and the address of the person to whom such 
    interest is transferred and--
            (A) in any case in which such transferee is an individual, 
        the citizenship of such transferee; and
            (B) in any case in which such transferee is not an 
        individual or a government, the nature of the legal entity 
        holding the interest, the country in which such transferee is 
        created or organized, and the principal place of business of 
        such transferee;

        (8) the agricultural purposes for which such foreign person 
    intends, on the date on which such report is submitted to the 
    Secretary, to use such agricultural land; and
        (9) such other information as the Secretary may require by 
    regulation.

(b) Agricultural land interests presently held by foreign persons

    Any foreign person who holds any interest, other than a security 
interest, in agricultural land on the day before the effective date of 
this section shall submit a report to the Secretary not later than 180 
days after such effective date. Such report shall be submitted in such 
form and in accordance with such procedures as the Secretary may require 
and shall contain--
        (1) the legal name and the address of such foreign person;
        (2) in any case in which such foreign person is an individual, 
    the citizenship of such foreign person;
        (3) in any case in which such foreign person is not an 
    individual or a government, the nature of the legal entity holding 
    the interest, the country in which such foreign person is created or 
    organized, and the principal place of business of such foreign 
    person;
        (4) the type of interest in agricultural land which is held by 
    such foreign person;
        (5) the legal description and acreage of such agricultural land;
        (6) the purchase price paid for, or any other consideration 
    given for, such interest;
        (7) the agricultural purposes for which such foreign person--
            (A) is using such agricultural land on the date on which 
        such report is submitted to the Secretary; and
            (B) intends, as of such date, to use such agricultural land; 
        and

        (8) such other information as the Secretary may require by 
    regulation.

(c) Change in foreign person status of interest holders

    Any person who holds or acquires (on or after the effective date of 
this section) any interest, other than a security interest, in 
agricultural land at a time when such person is not a foreign person and 
who subsequently becomes a foreign person shall submit a report to the 
Secretary not later than 90 days after the date on which such person 
becomes a foreign person. Such report shall be submitted in such form 
and in accordance with such procedures as the Secretary may require and 
shall contain the information required by subsection (b) of this 
section. This subsection shall not apply with respect to any person who 
is required to submit a report with respect to such land under 
subsection (b) of this section.

(d) Conversion of land to agricultural uses

    Any foreign person who holds or acquires (on or after the effective 
date of this section) any interest, other than a security interest, in 
land at a time when such land is not agricultural land and such land 
subsequently becomes agricultural land shall submit a report to the 
Secretary not later than 90 days after the date on which such land 
becomes agricultural land. Such report shall be submitted in such form 
and in accordance with such procedures as the Secretary may require and 
shall contain the information required by subsection (b) of this 
section. This subsection shall not apply with respect to any person who 
is required to submit a report with respect to such land under 
subsection (b) of this section.

(e) Additional reports by foreign persons other than individuals or 
        governments

    With respect to any foreign person, other than an individual or a 
government, who is required by subsection (a), (b), (c), or (d) of this 
section to submit a report, the Secretary may, in addition, require such 
foreign person to submit to the Secretary a report containing--
        (A) the legal name and the address of each person who holds any 
    interest in such foreign person;
        (B) in any case in which the holder of such interest is an 
    individual, the citizenship of such holder; and
        (C) in any case in which the holder of such interest is not an 
    individual or a government, the nature of the legal entity holding 
    the interest, the country in which such holder is created or 
    organized, and the principal place of business of such holder.

(f) Persons holding interests under subsection (e)

    With respect to any person, other than an individual or a 
government, whose legal name is contained in any report submitted under 
subsection (e) of the section, the Secretary may require such person to 
submit to the Secretary a report containing--
        (A) the legal name and the address of any person who holds any 
    interest in the person submitting the report under this subsection;
        (B) in any case in which the holder of such interest is an 
    individual, the citizenship of such holder; and
        (C) in any case in which the holder of such interest is not an 
    individual or a government, the nature of the legal entity holding 
    the interest, the country in which such holder is created or 
    organized, and the principle \1\ place of business of such holder.
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    \1\ So in original. Probably should be ``principal''.
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(Pub. L. 95-460, Sec. 2, Oct. 14, 1978, 92 Stat. 1263.)

                       References in Text

    For the effective date of this section, referred to in subsecs. (b) 
to (d), see section 10(b) of Pub. L. 95-460, set out as an Effective 
Date note below.


                             Effective Date

    Section 10 of Pub. L. 95-460 provided that:
    ``(a) Except as provided in subsection (b) of this section, this Act 
[enacting this chapter] shall become effective on the date of the 
enactment of this Act [Oct. 14, 1978].
    ``(b) Section 2 [section 3501 of this title] shall become effective 
on the date on which regulations prescribed by the Secretary under 
section 8 [section 3507 of this title] become effective.''


                               Short Title

    Section 1 of Pub. L. 95-460 provided that: ``This Act [enacting this 
chapter] may be cited as the `Agricultural Foreign Investment Disclosure 
Act of 1978'.''

                  Section Referred to in Other Sections

    This section is referred to in sections 3502, 3503, 3505, 3506 of 
this title.
