SB348: Bill Text

SB348,,6 710.02 (title) Limitation on nonresident aliens and corporations foreign ownership of agricultural and forestry land.

SB348,2 Section 2. 710.02 (1) of the statutes is renumbered 710.02 (1r), and 710.02 (1r) (intro.), as renumbered, is amended to read:

SB348,,8 710.02 (1r) Limitation. (intro.) The following persons may not acquire, own, or hold any interest, directly or indirectly, except an interest used to secure repayment of a debt incurred in good faith, in more than 640 50 acres of agricultural or forestry land in this state:

SB348,3 Section 3. 710.02 (1g) of the statutes is created to read:

SB348,,10 710.02 (1g) Definition. In this section, “agricultural or forestry land” means land that is classified as agricultural under s. 70.32 (2) (a) 4., agricultural forest under s. 70.32 (2) (a) 5m., or productive forest land under s. 70.32 (2) (a) 6.

SB348,4 Section 4. 710.02 (1r) (d) of the statutes is created to read:

SB348,,12 710.02 (1r) (d) Foreign governments.

SB348,5 Section 5. 710.02 (2) (intro.) of the statutes is amended to read:

SB348,,14 710.02 (2) Exceptions. (intro.) Except as provided in sub. (3), sub. (1) Subsection (1r) does not apply to any of the following:

SB348,6 Section 6. 710.02 (2) (a) of the statutes is amended to read:

SB348,,16 710.02 (2) (a) Subject to sub. (5), any person acquiring an interest in agricultural or forestry land by devise, inheritance, or in the good faith collection of debts by due process of law.

SB348,7 Section 7. 710.02 (2) (b) of the statutes is amended to read:

SB348,,18 710.02 (2) (b) Citizens, foreign governments, or subjects of a foreign government whose rights to hold larger quantities of agricultural or forestry land are secured by treaty.

SB348,8 Section 8. 710.02 (2) (d) to (g) of the statutes are repealed.

SB348,9 Section 9. 710.02 (3) of the statutes is repealed.

SB348,10 Section 10. 710.02 (4) (a) 2. of the statutes is amended to read:

SB348,,22 710.02 (4) (a) 2. If the interest in land is acquired, owned, or held under an exception set forth in sub. (2), a statement which that sets forth the specific exception and, if under sub. (2) (d), (e), (f) or (g), the timetable and plan for conversion and development to a purpose permitted under sub. (2) (d), (e), (f) or (g).

SB348,11 Section 11. 710.02 (5) of the statutes is amended to read:

SB348,,24 710.02 (5) Divestiture. (a) Interests exceeding 640 in agricultural or forestry land in excess of 50 acres that are acquired by persons under sub. (1) (1r) shall be divested at the discretion of the holder to comply with sub. (1) (1r) within 4 2 years after:

SB348,,25 1. Acquiring the interest, if the interest is described under sub. (2) (a) and the person is subject to sub. (1) (1r) (a) or, (b), or (d).

SB348,,26 2. Acquiring the interest or becoming subject to sub. (1) (1r) (c), whichever is later, if the person is subject to sub. (1) (1r) (c).

SB348,,27 (b) Land Agricultural or forestry land subject to divestiture under par. (a) may not be managed to cause undue levels of soil erosion or to injure the long-range productivity of the agricultural or forestry land. The attorney general secretary of agriculture, trade and consumer protection may bring an action to enjoin these those practices on the agricultural or forestry land.

SB348,12 Section 12. 710.02 (6) of the statutes is amended to read:

SB348,,29 710.02 (6) Forfeitures. Interests in lands agricultural or forestry land in excess of 640 50 acres that are acquired, owned, or held in violation of this section are forfeited to the state. The holder of the interest shall determine which agricultural or forestry lands are to be forfeited to comply with sub. (1) (1r).

SB348,13 Section 13. 710.02 (8) of the statutes is amended to read:

SB348,,31 710.02 (8) Enforcement. The attorney general secretary of agriculture, trade and consumer protection shall enforce this section.

SB348,14 Section 14. 710.02 (9) of the statutes is renumbered 710.02 (9) (a) and amended to read:

SB348,,33 710.02 (9) (a) This section Section 710.02, 2021 stats., applies to interests in land acquired after July 1, 1982, and before the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date]. No interest acquired before July 1, 1982, is subject to divestiture or forfeiture under this section s. 710.02, 2021 stats.

SB348,15 Section 15. 710.02 (9) (b) of the statutes is created to read:

SB348,,35 710.02 (9) (b) This section applies to interests in land acquired on or after the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date]. No interest acquired before the first day of the first month beginning after the effective date of this paragraph .... [LRB inserts date], is subject to divestiture or forfeiture under this section.

SB348,,36 (end)